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Torc to Ramp Up Spending, Ops in 2H16; Low-Risk Development
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TORC Oil & Gas Ltd. reported its financial and operating results for the three month period ended March 31 , 2016.
Key Points: With more than 70% of the capital program planned for the second half of the year, TORC remains well positioned to achieve the previously announced production guidance Cardium - TORC drilled 4 (3.7 net) successful Cardium development wells in the first quarter. Two of the four wells were completed in the first quarter with the remaining two wells to be completed in the second half of the year. For 2016, the Company has budgeted to drill 10 (9.1 net) Cardium wells representing less than 5% of TORC's identified undrilled inventory. SE Saskatchewan - With the encouraging results to date, TORC's 2016 plan is to drill 6 (5.0 net) development wells.TORC spen…
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