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Penn Virginia Drops 2015 Capex Over 50 Percent
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Penn Virginia Corporation provided its 2015 capital plan and guidance.
Full-Year 2015 Capital Plan and Guidance Capital Expenditures Capital expenditures are expected to be $295 to $345 million, a decrease of 57% to 63% from 2014, with 60% to 65% of the expenditures being incurred during the first half of the year. Drilling and completion capital expenditures, which will be focused on the Upper Eagle Ford, are expected to be $270 to $310 million. Pipeline, gathering, facilities, seismic and other capital expenditures are expected to be $10 to $15 million. Lease acquisition capital expenditures are expected to be $15 to $20 million. We expect drilling and completion capital expenditures to range between $6.0 and $7.5 million per well for wells with two strings of casing, assuming 15…- ✓ Full news archive — U.S., Canada & international coverage
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