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Advantage Announces Increase to 2020 Capital Guidance
Advantage Announces Increase to 2020 Capital Guidance Canada NewsWire CALGA...
About this update from Advantage Energy Ltd
[{"type":"text","content":"AAV-CapitalGuidance\n \n \n \n Advantage Announces Increase to 2020 Capital Guidance\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnbcc{\nBORDER-TOP:0pt solid; BORDER-RIGHT:0pt solid; BORDER-COLLAPSE: COLLAPSE; BORDER-BOTTOM:0pt solid; BORDER-LEFT:0pt solid\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n CALGARY, AB, Oct. 8, 2020\n \n \n \n \n (TSX: AAV)\n \n \n \n CALGARY, AB\n \n ,\n \n Oct. 8, 2020\n \n /CNW/ - Advantage Oil & Gas Ltd. (\"Advantage\" or the \"Corporation\") is pleased to announce a modest increase in 2020 capital guidance, as a result of continued strengthening of the Corporation's outlook.  Spending for 2020 is now projected to be between\n \n $147 million\n \n and\n \n $162 million\n \n , an increase of approximately\n \n $17 million\n \n , primarily to accelerate a four-well pad into Q4 2020 and augment natural gas production through the winter season.\n \n \n \n \n \n \n \n \n \n Program highlights:\n \n \n \n The four additional wells are to be drilled at Glacier (two D4\n \n Montney\n \n and two Upper Montney); all four of these wells are expected to be onstream during the first quarter of 2021\n \n \n Six Glacier wells have been drilled to date in the second half of 2020 (all D1\n \n Montney\n \n ); all six of these wells are expected to be onstream prior to year-end 2020\n \n \n All 10 wells in the program are expected to have payouts within one year of spud date\n \n \n Production will be processed using existing capacity at Advantage's 400 mmcf/d Glacier Gas Plant, incurring minimal incremental operating costs and low carbon-intensity\n \n \n \n Advantage's 2021 production is expected to grow between 5% and 10%, with exceptional growth anticipated in adjusted funds flow\n \n (a)\n \n (\"AFF\") based on current natural gas futures pricing.  Directionally, Advantage expects that 2021 net capital expenditures ...