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Petrus Resources Drilling 16 Cardium Wells in 2017
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Petrus Resources Ltd. has announced a term loan refinancing and provide a corporate update including a 2017 outlook.
2017 Outlook $50 to $60 million capital budget for 2017 Drilling 16 gross (11.7 net) Cardium wells at Ferrier The processing and compression capability of the Ferrier gas plant is expected to be doubled to reach a capacity of approximately 60 mmcf/d by the fourth quarter of 2017 Capital will also be allocated to expansion of the Ferrier gathering system to tie in additional volume to Petrus' Ferrier gas plant for processing. Petrus expects the 2017 capital program will increase December 2016 field estimated production of 8,572 boe/d by approximately 12 to 18% by year-end 2017 to 9,600 to 10,200 boe/d. The 2017 capital program is expected to be funded through cash flow and…- ✓ Full news archive — U.S., Canada & international coverage
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