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An Early Look at Company 2024 Capital & Development Plans
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Here is an early look at company disclosed development capex & drilling activity for 2024. As we said back in December of last year. We expect to see a reduction in capital and drilling activity in 2024 as a result of the number of M&A transactions last year. You will hear words like "high grading capital", "improved capital effeciency".
We will continue to update this document as well as the capex database as more intel becomes available.
Devon (2024e capex 10% reduction)Cutting capital
3Q-2023 Earnings
"To deliver this production profile in 2024, we anticipate a capital investment of $3.3 billion to $3.6 billion. This level of spending represents an improvement of 10% compared to 2023, and we expect to fund this program at pricing levels below $40 per barrel."
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