Drilling & Completions | Top Story | Exclusives / Features | Capital Markets | Capital Expenditure | Capital Expenditure - 2020
Appalachian 2020 E&P Activity Tracker: Wells Planned, Capex Budgets
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Cabot Oil & Gas released its preliminary 2020 spending and the details are what we expected.
The company is opting to deploy its "maintenance" plan, which calls for $575 million in capex (a 20% decrease vs. its original 2020 plan and down 29% from 2019).
While the company didn't detail its well plans, we estimate well count will be down 18-22% year over year.
The major drillers in the Appalachian region have now provided guidance on 2020 capex and drilling programs. Looking at the data, completed wells planned for the region is currently trending down -20% overall compared to 2019.
In addition to completion decline, overall capital spending is also down for the majority of operators in the region.
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