Exploration & Production | Top Story | Capital Markets | Capital Expenditure
Tourmaline Ups Guidance; Increase 2013 Capital Budget to $950 Million
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Tourmaline Oil Corp. has reported an update to its guidance, which reflects an increase for both year-end and 2014 totals.
The 100,000 boepd 2013 production exit volume is expected to be reached and exceeded during the fourth quarter. 2014 production guidance increased to between 116,000 and 120,000 boepd. The Company continues to successfully delineate and expand the major new light oil resource play in the Charlie Lake Formation on the Peace River High. Significant strategic acquisitions thus far in 2013 to the Alberta Deep Basin asset base. Tourmaline is currently operating 15 drilling rigs and 8-9 frac spreads, ahead of forecast activity levels. The initial large pool Paleozoic Exploration well is currently drilling at Sunset BC. Strategy to grow a 50,000 bpd TOU liquids business by…- ✓ Full news archive — U.S., Canada & international coverage
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