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CALGARY , Jan. 8, 2020 /CNW/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to announce its 2020 capital budget which targets investment between $170 and $200 million . The 2020 capital budget is expected to culminate in a significant increase in revenue by year-end and 130% growth in liquids production over 2019.
CALGARY , Nov. 11, 2019 /CNW/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to announce the appointment of Mr. Mike Belenkie to the position of President in addition to his current role as Chief Operating Officer of Advantage. Advantage is also pleased to announce the appointment of Mr. John Quaife as Vice President, Finance of the Corporation. Mr. Belenkie joined Advantage in 2018 and has already made significant contributions to further the Corporation's strategic direction and operating successes.
CALGARY , Sept. 3, 2019 /CNW/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to announce a significant Montney light oil pool has been discovered and appraised at Progress, Alberta , on the Corporation's 47 net section block of 100% owned lands. This discovery elevates the Progress asset to be a primary element of the Corporation's near-term liquids development program. Advantage has drilled four successful Montney wells to date at Progress, with the most recent located at 16-36-76-10W6 demonstrating average production test rates over 2,100 boe/d (62% liquids).
Marketing gains were $16 million in the second quarter of 2019, including $7 million from long-term market diversification gains (outside of AECO) and $9 million from hedging gains. In June, Advantage further strengthened its market diversification portfolio by adding a total of 76 mmcf/d of firm NGTL capacity to Empress , which begins in November 2020 and increases in 2021. With this additional service, Advantage's exposure to AECO is expected to be negligible by 2021 based on our current production outlook.