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Bankers Petroleum announces 2014 capital budget and work program


Published Dec 16, 2013
Bankers Petroleum Ltd.

Bankers Petroleum Ltd. announce its 2014 capital program of US$313 million, to be fully funded with funds generated from operations, cash and available credit facilities. This represents a record annual activity level for the Company. The budget has been approved by the Company's Board of Directors and submitted to the Albanian authorities for their approval.

The 2014 capital program will focus on horizontal drilling and expansion of the secondary recovery program in the Patos-Marinza oilfield. The Company will also direct capital towards associated projects including infrastructure and facilities construction, drilling of core wells in the South area of the field, new development in Kuçova, and exploration for natural gas in Block "F".

Tags: Bankers Petroleum Ltd.




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