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Alberta production cuts lead some operators to cut capex
The production cuts of 325,000 bo/d mandated by the Alberta provincial government have forced some of the largest producers to reduce their planned capex for 2019. Meanwhile, Canada’s rig count has fallen from 174 to 70 over the last two weeks of 2018, the lowest number since June 2016 (PG.9). In response, the Canadian federal government announced $1.65 billion in loans and incentives to give struggling energy companies some respite from low oil and......
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