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Triangle Petroleum to Cut Budget Down 70% YOY
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Triangle Petroleum Corporation reported its capital budget outlook and guidance for its E&P segment, RockPile Energy Services and an update on Caliber Midstream for fiscal year 2016, ending January 31, 2016.
Fiscal Year 2016 Capital Budget Outlook Triangle's fiscal year 2016 capital expenditure budget totals approximately $165-195 million: FY2016 budget represents a 71% year-over-year reduction Focused on 1) protecting the balance sheet, 2) maintaining adequate liquidity, 3) return on capital and 4) positioning the Company for earnings and production growth post-recovery Development plan contemplates 2 operated rigs on average for the year Triangle currently delaying all operated well completions until May or longer, subject to commodity prices and gaps in the RockPile third-party…- ✓ Full news archive — U.S., Canada & international coverage
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