Exploration & Production | Capital Markets | Capital Expenditure
Penn West Tags $900MM Capital Budget
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Penn West Petroleum Ltd. is pleased to announce that the Board of Directors has approved its capital budget for 2013.
Penn West has a leading position in several emerging and established light-oil resource plays as well as numerous other large scale resource opportunities. Control of this quality asset base affords Penn West the ability to allocate capital to achieve a range of strategic goals. In the past several years, Penn West has balanced appraisal of its significant resource base with a meaningful dividend. In 2013, Penn West plans to remain committed to the dividend model and to improving capital efficiencies and production reliability. Over the long-term, Penn West remains focused on realizing the significant value inherent in our extensive light oil resource base. Consistent with…
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