The independent plans to increase its capital expenditure programme for the rest of the year by C$40 million (US$30 million).
The funds will go towards developing the Cardium and Alberta Viking plays in Canada, where the company plans to drill five wells and 11 wells, respectively. Nineteen wells are also planned in the neighbouring Peace River area.
"We expect our second-half drilling programme to add approximately 3000 barrels of oil equivalent per day to our 2016 exit production and set us up for continued growth into next year," Penn West said.
During
