Terra Energy Corp. (TO: TT.TO) detailed the plan for its 2014 capex budget on Feb. 14. The initial capex amount is CA$14.3 million, the company said.
Pipeline projects for existing wells, in addition to oil and natural gas plays—including the Stoddart and Red Creek light oil plays in British Columbia—will take most of the year’s capex, the company said.
The capex is designed to reverse the past two years’ declining production trend and to “develop a platform for growth, Terra Energy said.
The capex plan will be funded from operations ...