Forecast - Production | Capital Markets | Capital Expenditure | Drilling Program-Rig Count | Capital Expenditure - 2019
Approach's Output to Decline for Third Straight Year as D&C Ops Deferred
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Approach Resources has detailed its 2019 capital plan.
In its Q4 conference call, the company noted that it will be deferring D&C activity until commodity prices rebound: "Considering the current Waha natural gas price discount and oil bulk price volatility, we decided to defer our drilling and completion activities until higher commodity prices and/or lower gas differentials are realized."
They did not specify at what price they would resume D&C operations.
2019 Plans- 2019 Capex: $30-60 million (midpoint is down a slight -4% YOY to the $47 million spent in 2018)
The company noted that commodity prices will affect how much it ultimately spends this year- Rigs: While rig plans were not disclosed, the company has had one rig running since Q3 2018
- 2019 Production: 3,600-3,800 MBOE (dow…
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