CardiumIn the first half of 2013, we completed a selective drilling program in the Cardium focusing on program capital efficiencies and advancement of slick water fracture stimulation techniques. In the Alder Flats area, drilling and completion costs in the first half of 2013 improved by more than 30 percent from 2012. Based upon these results and extensive study by our teams, we are confident that comparable savings can be repeated in the Willesden Green and Lodgepole areas of the Cardium. The Cardium represents an opportunity to create repeatable and sustainable value creative investment programs and we will be reallocating $40 million of capital to the play in the second half of 2013. As a result of this shift, we anticipate drilling 14 additional wells. We expect that a continuous, even flow drilling approach will allow us to further improve our performance in the future.
Penn West Exploration Announces Its Financial Results For The Second Quarter Ended June 30, 2013
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