RE:From StockWatch Energy Today, Feb. 17Just a little glitch in that commentary:
"It did not set a specific production target, but looks to be aiming to keep production fairly flat at around 100,000 barrels a day."
Raising capex to $350m -$400m will not bring production to unchanged 100 000 boe/d.
Current production is already over that level.
Existing wells decline is 28% and $10 000 will be required to bring 1 boe/d in new production.
$280m in capex to replace 28 000 boe/d decline, $70m - $120m in capex for new production. 7 000 boe/d - 12 000 boe/d
Expected end of 2022 production of 110 000 boe/d with a year average of 105 000 boe/d, taking into account the high decline rates of new wells brought into procution during 2022.