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Penn West to Spend $50MM in 2016; Details 4Q Viking, Cardium Results
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Penn West Petroleum Ltd. has reported its financial and operational results for the year ended December 31, 2015 .
All figures are in Canadian dollars unless otherwise stated.
2016 Guidance 4Q15 & Full Year 2015 Results Financial and Operational Highlights: We had strong delivery from our 2015 operations with results within or ahead of guidance. Full year production volumes averaged 86,357 boe/d, above the mid-point of guidance. Capital expenditures were $30 million below our guidance, resulting in full year spending of $470 million . Our focus on reducing the cost structure within our business drove full year operating costs of $18.96 per boe that were notably below the bottom end of guidance and G&A of $2.91 per boe was within our guidance rangeDuring the year, we entered into…
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