Capital Markets | Capital Expenditure | Drilling Program - Wells | Capital Expenditure - 2020 | 2020 Guidance
HighPoint Deferring All Future D&C Activity for 2020; No Change to $210MM Capex
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HighPoint Resources Corp. reported an update to its 2020 development program, liquidity and hedges.
The company said that all drilling and completion activity that is currently in progress will be completed, and all new planned activity will be deferred.
HighPoint set its 2020 capex at $210 million in February. There were no changes to the budget detailed in this week's release from the company, however it said it may adjust it depending on future market conditions.
Chief Executive Officer and President Scot Woodall commented, "Given the rapidly changing dynamics of crude oil prices our top priority is to preserve our balance sheet and liquidity in this lower crude price environment. As such, we have prudently decided to defer any new drilling and completion activity as we continue to…
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