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. | |
---|---|---|
+5.28% | 290B | |
+9.53% | 149B | |
+39.38% | 112B | |
+18.29% | 80.93B | |
+5.20% | 73.31B | |
+16.03% | 60.74B | |
+8.11% | 56.91B | |
+5.24% | 46.09B | |
-1.80% | 37.54B |