Forecast - Production | Capital Markets | Capital Expenditure | Drilling Program - Wells | Capital Expenditure - 2019
Torc Oil & Gas Upping Spending Nearly 10% for 2019; Expects Flat Production
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TORC Oil & Gas Ltd. has set an initial 2019 capital budget of $180 million - this is a slight +9% increase from 2018.
D&C (75%): $135 million Operational/Facility Optimization (25%): $45 millionThe company plans to drill 88 gross (69.3 net) wells in 2018.
The capital program is concentrated on the Company’s primary core areas in southeast Saskatchewan, focused on both conventional and unconventional opportunities, along with the Cardium play in central Alberta.
Expects to Keep Production FlatTorc is looking to maintain 2018 exit production levels resulting in 2019 average and exit production of 28,000 boepd (~88% light oil & liquids) while continuing to maintain a decline profile of approximately 23%.
Highlights by AreaSE Saskatchewan
In 2019, TORC plans to drill 45 gross (33.7…
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