Exploration & Production | Top Story | Capital Markets | Capital Expenditure
Perpetual's 2014 CapEx Takes Cut; Focuses on Liquids-Rich Assets
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Perpetual Energy Inc. has reported its 2014 strategy, including its capital budget.
The company has earmarked a 2014 CapEx of up to $70 to 80 million, down from the company's 2013 budget of $90-95 million.
Perpetual's strategic priorities for 2014 are as follows: Reduce debt and manage downside risks; Grow Edson liquids-rich gas production, reserves, cash flow, inventory and value; Maximize value of Mannville heavy oil; Maximize cash flow from shallow gas; and Advance and broaden portfolio of high impact opportunities with risk-managed investment. First Quarter PlansPerpetual is targeting capital spending in 2014 to be fully funded by 2014 funds flow. The Company's Board of Directors has approved a $70 to $80 million capital budget for full calendar year 2014. First quarter spending…
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