Exclusives / Features | Capital Markets | Capital Expenditure | Drilling Program-Rig Count
Here are the Operators Cutting Activity in 2H 2019
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As Q2 reports are released, are pulling together highlights from company conference calls. Here are the notable items from several E&P's calls including Concho Resources, Cimarex, Callon, Southwestern, EOG, and Pioneer.
Many companies have been reducing activity and rigs in an effort to save capital, as seen in the charts below. E&Ps are calling the move "capital effeciencies", but if you truly look at the data, it has more to do with capital preservation (see second chart).
Concho Resources Focuses on Capital Discipline; Tempers OpsConcho is focused on capital discipline for 2019. The company detailed how its operating program has been adjusted to spur savings: "Turning to our capital program, we averaged 26 rigs in the second quarter and capital totaled $785 million, which was down…
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