Exploration & Production | Forecast - Production | Capital Markets | Capital Expenditure
Pengrowth Approves 2016 Budget; Freezes Drilling
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Pengrowth Energy Corporation announced its 2016 capital expenditure plans and suspension of its dividend.
Highlights: $60-70 million average production of between 59,000 and 61,000 BOE/d The 2016 capital program has no capital allocated for drilling but will allocate some minor capital to advance long-term projects, namely at Lindbergh and BernadetPengrowth's Board of Directors has approved a $60 to $70 million capital budget for 2016, which is expected to generate annual average production of between 59,000 and 61,000 barrels of oil equivalent per day (boe/d). The 2016 capital budget will focus on maintenance initiatives and does not contemplate a drilling program.
2016 Capital PlanThe 2016 capital program has no capital allocated for drilling but will allocate some minor capital to…
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