Exploration & Production | Debt | Capital Markets | Capital Expenditure | Drilling Program
Pacific Rubiales Reduces Capex 13%
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Pacific Rubiales Energy Corp. has provided a revision to the Company's 2015 capital budget guidance, reducing capital expenditures from $1.5 billion to a range of $1.1 to $1.3 billion, reflecting a WTI oil price assumption range of $55 to $60.
All amount values in this release are in U.S.$ and all production numbers are expressed in net after royalty volumes, unless otherwise stated.
2015 Revised Guidance - Key Highlights: Net production of 150 to 160 Mboe/d, a slight decrease from the previous guidance, representing approximately 1 to 8% growth over expected 2014 production levels. Average WTI oil price assumption of $55 to $60/bbl during the year. Oil price realization is expected to be $1 to $2 above the WTI benchmark price assumption. A significant reduction in 2015 cash costs: with…- ✓ Full news archive — U.S., Canada & international coverage
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