Exploration & Production | Quarterly / Earnings Reports
Perpetual Sees Dip in Q3 Canadian Production; Plans Growth Projects
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Perpetual Energy Inc. has reported its financial and operating results for the three and nine months ended September 30, 2013.
Capital ActivitiesThird quarter capital spending of $23 million continued to advance Perpetual's commodity diversification strategy, concentrating on liquids-rich natural gas and heavy oil development projects.
Drilling activities during the third quarter included five (4.0 net) wells, with three (3.0 net) heavy oil wells on the Corporation's Mannville property and two (1.0 net) natural gas wells drilled in the greater Edson area.
Enhancements to the West Edson gas processing facility, including construction of a refrigeration plant and sales pipeline, were completed late in the third quarter, with deliveries into the Alliance pipeline commencing on October 1…
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