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Eagle Ford E&P Suspends Drilling & Completion Activity For 2019, Talks 2020
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This seems to be a running theme amoung a lot of E&Ps this year. Lonestar Resources is reporting that it has deffered until the December or early January 2020. Here is why. The company's full year 2019 drilling program called for the drilling of 20 wells with $118.5 million (mid-point of guidance). The company ran a 2 rig program from January - August of this year. At the end of the third quarter, the company had 17 of those 20 wells already drilled and online.
Early look at 2020.
The company said "Today, we believe that our 2020 production target can be achieved by drilling 13 to 19 gross wells / 12 - 16 net wells at a cost of between $90 and $115 million, both of which yield free cash flow generation. We have positioned Lonestar to thrive in the current environment and continue to…
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