09:51 AM EST - Penn West Petroleum Ltd. : Has approved a highly disciplined capital budget of $50 million for 2016. This budget responds to the significant decline in commodity prices and proposes capital spending levels 90% lower than the 2015 planned capital program. The company’s 2016 capital budget is consistent with the strategy announced on September 1, 2015 which limits total expenditures to funds flow from operations, while driving down its cost structure. Penn West Petroleum Ltd.
shares T.PWT are trading up $0.07 at $1.05.
