Exploration & Production | Drilling & Completions | Capital Markets | Capital Expenditure
TriOil Goes for Cardium, Dunvegan HZ Development in 2013
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TriOil Resources Ltd. has approved a capital expenditure program of $93 million for 2013. TriOil also announces that its Board of Directors have formed a committee of independent directors to conduct a strategic review of the Company's business plan and to consider additional means to enhance shareholder value.
Capital Budget and GuidanceThe 2013 Capital Budget will focus on the development of TriOil's Cardium and Dunvegan light oil plays and provides continued production growth while maintaining the Company's strong financial position. Approximately 45% of the 2013 Capital Budget will be directed to our Cardium light oil resource play at Lochend to drill 15 (8.9 net) Cardium horizontal wells and participate in an expansion of the recently constructed central oil battery. Kaybob will…
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