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Battalion Cuts 2020 Well Plans, Capex in Half; Talks Q4 Results
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Battalion Oil Corp. reported results of operations for the three months and full year ended December 31, 2019.
Updated 2020 PlansBattalion had planned to spend between $123 and $138 million to keep one rig active throughout 2020 in order to spud approximately 10 wells and place online 12 to 14 wells.
As a result of recent changes in market conditions and commodity prices, we are considering revisions to our 2020 capital budget which would lower anticipated capital expenditures to approximately $60 million to $76 million and include drilling four to six gross operated wells and putting online six to seven gross operated wells during the year.
Since the acreage is substantially held by production, and the original capital program assumed most of the annual activity would be front-weighted…
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