Raging River has $120M capital plan

CALGARY • Junior oil and gas producer Raging River Exploration Inc. unveiled Tuesday a $120-million capital budget as it pocketed $69 million from a bought deal financing.

The company spun out in March assets not included in the sale of Wild Stream Exploration Inc. to Crescent Point Energy Corp. added it is closing the $65-million sale announced last month of two private companies and an asset package for $65 million. The purchases increase its stake in the Saskatchewan Viking play, where it plans to spend all of its 2013 capital budget. Raging River said it expects to more than double average production next year to 4,600 barrels of oil equivalent per day.