Twin Butte Energy Ltd. expects Capital spending to be below $83 million for 2015, below prior guidance, as drilling and completion costs continue to come in below estimates and spending on the Wildmere water flood project has been deferred due to low oil prices.

Twin Butte has significant cash flow torque to even a modest recovery in oil prices. However, at current spot and strip oil prices, cash flow, although positive will be below the level of capital expenditures required to maintain production in 2016.