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Whitecap IDs 2020 Budget; Cuts Cardium, Viking Spending in Favor of Waterflood
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Whitecap Resources Inc. has detailed its 2020 capital plan.
Whitecap has approved a 2020 capital budget of $360 - $380 million which is expected to deliver average production of 71,000 – 72,000 boe/d, similar to the average production we are targeting in 2019 with $400 million of capital spending.
The capital budget includes drilling 150 (122.5 net) wells focused on adding production as well as investment in EOR projects forlong-termvalue creation and the drilling of 12 (10.3 net) horizontal injection wells.
Plan Breakdown Northwest Alberta & British ColumbiaWe anticipate investing 27% of our capital budget in this area in 2020. In the Karr Montney, we anticipate drilling 2 (1.2 net) HZMF oil wells. This is the start of amulti-yeardevelopment program with the potential to grow…
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