Penn West reported operating results for the fourth quarter and full year of 2016. For the period, the company reported average production of volumes approximately 38,500 boe per day.

For the full year, the company reported average production of approximately 55,000 boe per day.

For the year 2017, the company plans to spend $180 million of total capital. The company will spend $97 million, more than half of its total capital, on a 55-well programs including 45 vertical injection wells to provide pressure support for those horizontal producing wells. Its $180 million capital budget is expected to deliver full year 2017 production of 27,000 boe per day to 29,000 boe per day, approximately 2/3 liquid weighted.