The Canadian operator will cut spending to C$109 million (US$82 million) next year from C$213 million this year — about C$9 million less than its original guidance for 2016.
About C$51 million will be used to upgrade existing rigs, another C$51 million will go towards sustaining infrastructure, while C$7 million, carried forward from its 2016 budget for international newbuild drilling rigs, will be directed to expansion.
“Recent
