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Bullboard - Stock Discussion Forum Petrus Resources Ltd T.PRQ

Alternate Symbol(s):  PTRUF

Petrus Resources Ltd. is a Canadian oil and gas company focused on property exploitation, strategic acquisitions and risk-managed exploration in Alberta. The Company has an inventory of low-risk oil and natural gas development assets in its Ferrier, North Ferrier and Thorsby operating areas. Its core area, Ferrier, is a resource play. The Ferrier is a liquid rich Cardium gas play. North Ferrier... see more

TSX:PRQ - Post Discussion

Petrus Resources Ltd > PRQ results
View:
Post by llerrad5 on Sep 29, 2022 5:09pm

PRQ results

On September 19th, Petrus released updated 2022 capital budget guidance. The
revised budget will see the company increase its capital investment to $105-$115
million, with the majority ($85-$90 million) being directed toward drilling activity in
Ferrier.
Through the successful execution of this capital program, we anticipate

achieving a 2022 exit rate in the range of 10,500 to 11,000 boe/d.

That will be a 51% increase over the last 3 mos. of 2022.

Not bad at all, keep up the great work.
Comment by WRig33JN on Sep 29, 2022 7:13pm
To add to this.. the way i see it there will be wells drilled but not on production by years end. Therefore production will continue to increase in Q1. Drilling began in June and currently none of tjose wells have come on line. Petrus could be well above 10500 - 11000 bpd in Q1.
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