Canada's Penn West Raises 2017 Capex Budget

Reuters

Jan 5 (Reuters) - Canadian oil and gas producer Penn West Petroleum Ltd raised its 2017 capital budget to C$180 million ($135 million) from C$150 million, and said it expected a 15 percent increase in production from core areas.

The Calgary-based company, which had forecast 2016 capital spending of C$90 million, said in November it expected 10 percent core production growth in 2017.

The company also said on Thursday that David Hendry, vice president of finance, will take over form David Dyck as the company's chief financial officer.

(Reporting by John Benny in Bengaluru; Editing by Maju Samuel)

Copyright 2017 Thomson Reuters. Click for Restrictions.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
Accountant - Intercompany
Expertise: Accounting
Location: Alpharetta, GA
 
Cost Accountant
Expertise: Accounting
Location: Ville Platte, LA
 
Margin Optimization Analyst
Expertise: Accounting|IT - SAP / ERP|Refinery Specialist
Location: Dallas, TX
 
search for more jobs

Brent Crude Oil : $50.2/BBL 3.29%
Light Crude Oil : $47.89/BBL 3.34%
Natural Gas : $2.94/MMBtu 1.37%
Updated in last 24 hours