Forecast - Production | Capital Markets | Capital Expenditure | Drilling Program - Wells | Drilling Program-Rig Count | Capital Expenditure - 2019
Contango Cuts Spending Nearly 30% for 2019; Well Activity Down -24%
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Contango Oil & Gas has detailed its 2019 guidance and operating plan.
The company was mum on its production expectations for the year, only disclosing its Q1 2019 production estimates - which come in 17% lower than its 2018 average output.
2019 Plan- 2019 Capex: $37 million (D&C total of $30 million) - down -29% YOY
Delaware Basin: $28.4 million Non-Op Georgetown Drilling: $1.9 million Lease / Facilities / Infrastructure & Other: $6.8 million- Well Plans (gross): Drill 6 / Complete 7 wells (including two non-op Georgetown wells)
- Rigs: One rig running (flat)
- 2019 Production: The company did not disclose its full-year 2019 production expectations. However it did mention that it expects Q1 2019 production to range from 34 – 39 Mmcfe/d.
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