The company said it expects to produce 60,000-64,000 barrels of oil equivalent per day this year, about 30 percent lower than its 2015 production estimate in September.
(Reporting by Amrutha Gayathri in Bengaluru; Editing by Shounak Dasgupta)
(Reuters) - Canada's Penn West Petroleum Ltd cut its 2016 capital budget by as much as 90 percent to C$50 million from a year earlier, to weather a steep plunge in crude oil prices.
The company said it expects to produce 60,000-64,000 barrels of oil equivalent per day this year, about 30 percent lower than its 2015 production estimate in September.
(Reporting by Amrutha Gayathri in Bengaluru; Editing by Shounak Dasgupta)
1st Jan change | Capi. | |
---|---|---|
+11.22% | 306B | |
+12.21% | 153B | |
+51.38% | 124B | |
+22.70% | 83.43B | |
+12.20% | 78.06B | |
+19.56% | 62.81B | |
+13.52% | 60.08B | |
+12.74% | 49.91B | |
+33.97% | 37.05B |