Drilling & Completions | Forecast - Production | Capital Markets | Capital Expenditure | Drilling Activity | Capital Expenditure - 2019
Surge Energy Cuts Planned 2019 Spending by $25MM; Eyes 20% Output Growth
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Surge Energy Inc. detailed its 2019 capital plans.
Details:- 2019 Capex: $135 million (down -16% from $160 million originally planned)
Surge’s 2H 2019 capital spending forecast has further flexibility to be increased by an additional $25 million of exploration and development capital, if the outlook for Canadian crude oil pricing and egress improves.- 2019 Production: Targeting an average production rate of 22,000 boepd for 2019 (this is a 20% increase compared to 2018)
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