Operational Updates | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update | Reserves | Financial Results | Capital Markets | Capex Decrease | Capital Expenditure - 2018
Perpetual Cuts Capex for -32% 2018; Talks Q4 Production, Results
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Perpetual has released its Q4 2017 results.
Q4 Highlights: Fourth quarter average production of 11,765 boe/d- combination of production growth of 45% relative to the fourth quarter of 2016 Cuts 2018 CapexIn response to recent commodity market changes, Perpetual revised its 2018 capital plan to preserve the value of its East Edson natural gas reserves by deferring 2018 development drilling at East Edson and accelerating spending on highly economic heavy oil projects at Mannville, for a net 32% reduction to the 2018 capital budget to $23 to $27 million from $37 million initially set in November 2017.
The revised capital plan is expected to result in the drilling of one (1.0 net) ERH liquids-rich natural gas well in 2018 along with three (3.0 net) completion and fracs at East Edson and…
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