December 8, 2016 – Page 2

Land tax revenues increasing amid the oil downturn Texas is one of the country’s preeminent wealth generators for both agriculture and oil and gas. In fiscal 2016, the two industries contributed a combined $3.4 billion in tax revenues to the state. The downturn in oil and gas activity has had a significant impact on Texas’ tax receipts, however, and land

Chevron announces $20 Billion Capex in 2017

December 8, 2016

70% of planned upstream projects will generate production in 2 years California-based Chevron Corp. (ticker: CVX) announced its 2017 capital budget Wednesday. The company will cut its capex spending for the fourth consecutive year as it focuses on short-cycle, high-return investments, according to the company. Including $4.7 billion in affiliate expenditure, Chevron’s 2017 budget will be $19.8 billion, the company

Manitok Sets New Record Production

December 8, 2016

Manitok announces production of 7.1 MBOEPD Calgary-based Manitok Energy Inc. (ticker: MEI) announced that the company has set a new production record. Manitok is currently producing at levels exceeding 7.1 MBOEPD (40% light oil and liquids), based on field estimates, surpassing its previously announced record production of 6.5 MBOEPD. Manitok attributed the increased production to three wells that the company

WesternZagros Resources Ltd. (CDX:WZR:CA) Paces TSX Venture Basic Materials Companies with 5.88% Gain in Morning Trading on December 8

December 8, 2016

WesternZagros Resources Ltd. (CDX:WZR:CA) Paces TSX Venture Basic Materials Companies with 5.88% Gain in Morning Trading on December 8

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