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Article: Canada : ARC Energy Trust announces a $575 million capital budget for 2010.
- Article from:
- TendersInfo
- Article date:
- November 9, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: datta03
ARC Energy Trust (the "Trust" or "ARC") announced today that its Board of Directors has approved a budget for 2010 that includes a $575 million capital expenditure program and plans for substantial growth in production each of the next three years.
John Dielwart, ARC's Chief Executive Officer, said, "Strong production from 2009 provides a platform for a period of growth beginning in 2010 and continuing for several years beyond. Commissioning of the new Dawson gas plant early in the second quarter of 2010 should propel ARC exit volumes to greater than 73,000 boe per day and work has already begun on the Phase 2 gas plant for proposed ...