Penn West to seek JVs for tight oil plays

摘要

Calgary—Calgary-based light oil and natural gas liquids producer Penn West Exploration will seek joint ventures in 2013 to develop its tight oil acreages in western Canada, while keeping its options open for further asset divestments. “In the past four years, our focus has been on maintaining average production levels of at least 100,000 b/d of oil equivalent and that will continue into the new year. But, we will now focus on setting up JVs as the company moves into developing new asset bases,” Penn West President Murray Nunns said January 10, during a conference call to discuss the company’s 2013 capital budget.