Montney Shale producer Advantage Energy Ltd. is seeking to boost oil and natural gas output this winter after raising its capital spending target for 2021 amid improved commodity prices.

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The Calgary-based company said it was raising its capital guidance by $20 million to a range of $140 million-$150 million. Advantage plans on using the extra cash to pull forward drilling originally scheduled for 1Q2022 into 4Q2021.

“The corporation’s 2021 development program is two months ahead of schedule and capital to-date is below budget, creating an opportunity to optimize fourth quarter operations and deliver higher production into winter markets,” Advantage said.

The decision marks a departure from the strategies of many North American exploration and production (E&P) companies,...