🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

BRIEF-Petrus Resources announces farm-in agreement and provides an operations update

Published 2017-10-04, 07:16 a/m
© Reuters.  BRIEF-Petrus Resources announces farm-in agreement and provides an operations update
PRQ
-

Oct 4 (Reuters) - Petrus Resources Ltd PRQ.TO :

* Petrus Resources announces farm-in agreement and provides an operations update

* Petrus Resources Ltd - to accommodate farm-in agreement, board has approved a $10 million increase to company's capital budget for 2017 to $60 to $70 million

* Petrus Resources Ltd - budget increase for 2017 is expected to be funded through availability under company's existing credit facilities

* Petrus Resources Ltd - company estimates that farm-in agreement will contribute 16 gross (5.2 net) Cardium locations to its drilling inventory

* Petrus Resources Ltd - Petrus' estimated August monthly field production is 10,650 BOE/D

* Petrus Resources - new production related to 2.2 net DUC wells and 2 net ERH wells related to farm-in agreement expected to be brought on stream in Q4

* Petrus Resources Ltd - has initiated a non-core asset divestiture process for its central alberta and foothills areas

* Petrus Resources Ltd - divestiture process is expected to take place in Q4 of 2017

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.