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Perpetual Energy Reduces 2015 Capex
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Perpetual Energy Inc. has announced that strong natural gas production in all of the Company's key operating areas combined for a 2014 exit production rate (December average), of approximately 24,150 boe/d, exceeding Perpetual's target exit rate of 23,400 boe/d and representing 30 percent growth over the Company's 2013 exit rate.
Perpetual has also announced continued positive operational performance and capital execution results in the Greater Edson area, the details of which are disclosed below.
Despite strong operational results, Perpetual has reduced its 2015 first quarter capital program by 30 percent to $45 million, down from the $64 million program announced in November 2014 in response to declining commodity prices. Spending for the remainder of 2015 will be finalized after the…
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