Exploration & Production | Capital Markets | Capital Expenditure
Parallel IDs 2015 Capital Budget of $10.5MM; Talks Plans
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Parallel Energy Trust announced its 2015 capital budget; its 2015 production and cash flow guidance; and, a change to its distribution.
Corporate SummarySince its inception, Parallel has focused on acquiring and managing assets that are ideally suited for a distribution-paying oil and gas producer. As a result, Parallel's asset base has a very low decline rate of approximately eight per cent, attractive drilling efficiencies of approximately US$15,000 per flowing boe/day and a high reserve life index comprised primarily of proven reserves. Parallel has also remained committed to operating a sustainable business model, which requires that the Trust generate more than sufficient free cash flow to fund its distribution and capital expenditures.
Parallel recognizes that the Trust's ability…
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