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Bankers Petroleum announces revised 2015 capital budget and work program


Published Feb 2, 2015
Bankers Petroleum Ltd.

Bankers Petroleum Ltd. announces its revised 2015 capital program of US$153 million, reduced from the previously announced 2015 capital program of $218 million. These adjustments have been made to ensure 2015 spending fits within funds generated from operations and cash resources in the latest oil price environment. The revised budget has been approved by the Company's Board of Directors and will be submitted to the Albanian authorities for their approval.

David French, President and CEO, commented, "We believe it is prudent with today's commodity outlook to show capital discipline and preserve our strong balance sheet. Our project portfolio is flexible enough to allow us to choose our pace and scale of development as appropriate. This revised budget reflects our rigorous focus on capital and operating cost efficiency with a balance of both short term drilling execution and long term flood expansion of the field."

Tags: Bankers Petroleum Ltd.




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