Top Story | Capital Markets | Capital Expenditure | Drilling Program - Wells | Capital Expenditure - 2017
Viking, Deep Basin E&P Spending Over 600% More in 2017; $65MM
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Perpetual Energy has detailed its capital spending plans and expected production growth for 2017.
Overview:Perpetual will spend +614% more in 2017 (compared to 2016's budget of $9.1 million).
East Edson takes bulk of budget (85%) Plans to recommence its one rig drilling program after break up to continue to grow production, at East Edson, with the drilling of up to an additional eight wells. Pending successful drilling results and commodity prices, four additional heavy oil wells are planned for the second half of 2017 in Mannville.Perpetual expects to exit 2017 at a production rate of 12,750 to 13,000 boe/d in December 2017, with full year 2017 production averaging between 10,750 to 11,000 boe/d (85% natural gas). This represents growth in average daily production from Q4 2016…
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