LNG / CNG | Capital Markets | Capital Expenditure | Capital Expenditure - 2020 | 2020 Guidance
Pieridae to Spend Over 75% More in 2020; Deal with Shell Likely Catalyst
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Pieridae Energy has detailed its 2020 capital plan.
The noticeable increase in spending and production can likely be attributed to Pieridae's acquisition of Alberta Foothills assets from Shell, which was announced in July 2019 (click here to access the deal).
The company picked up over 28,000 boepd in production thanks to the agreement.
Pieridae is focused on development of the Goldboro LNG project and its Alberta Foothills assets.
2020 SummaryFinancial:
Pieridae anticipates a 2020 NOI in the range of $80-110 million through, among other things, finding efficiencies in the field and by expanding third party revenue. The top end of the range would be a 10 times increase in NOI compared to a pre-Foothills assets acquisition NOI at a maximum of $10 million.
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