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Amoco Canada Petroleum Co. ”will spend roughly $100 million (Canadian)
more on production-type items and a little bit less on exploration” in 1990 than in the current year, when exploration and development spending will reach about $510 million (Canadian), said T. Don Stacey, chairman and president of Amoco Canada, a wholly owned unit of Chicago`s Amoco Corp. Amoco, meanwhile, said it has found ”significant” reserves of natural gas in Oklahoma`s Arkoma Basin. The recently completed well was the fourth Amoco well to strike sizable amounts of gas in the basin in the last year.
