Reuters logo
BRIEF-Petrus Resources announces farm-in agreement and provides an operations update
October 4, 2017 / 11:18 AM / in 15 days

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

Oct 4 (Reuters) - Petrus Resources Ltd:

* 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​ Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below