Exploration & Production | Capital Markets | Capital Expenditure
Trilogy Sets Big Duvernay 2014 Capital Budget
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For 2014 and beyond, Trilogy believes it is well positioned with debt capacity from its revolving credit facility.
Trilogy is forecasting modest production growth in 2014 as a large portion of the Company’s capital spending will be allocated to the Duvernay play, which is not expected to add significant production or cash flow until late 2014 at the earliest. Notwithstanding the short term production impact in 2014, Management believes the allocation of capital to the Duvernay will facilitate Trilogy’s long term growth objectives and is a prudent investment of capital at this time.
Trilogy is planning a 2014 capital budget of $375 million, of which approximately $150 million will be allocated to the Duvernay to drill approximately 11 net wells, $135 million will be directed towards…
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