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January 10, 2013
05:07 EDTPWEPenn West Exploration approves capital budget of $900M
The 2013 Base Capital Budget is $900M and includes an option to layer in up to $300M of incremental capital weighted in the second half of the year. This incremental capital is subject to commodity price and crude oil differential realizations, demonstrating expected capital efficiencies and ongoing strategic portfolio management. Penn West will announce in advance, if the company plans to spend beyond the Base Capital Budget of $900M.
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