By OGJ editors
HOUSTON, Dec. 14 -- Edge Petroleum Corp. approved an initial 2006 capital expenditure program of $110 million, a 15% increase over 2005, excluding acquisitions.
The Houston independent allocated $78 million for drilling 60-65 wells along with other well activity, including recompletions and workovers. Edge plans to spend $22 million on land and seismic activity. It did not specify how the other $10 million would be spent.
Edge has a contingent capital expenditure program that envisions drilling 35-40 more wells. Those wells and related activities could require an additional capital expenditure of $35-40 million.
