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Laredo Approves $525MM Capital Budget; Talks Plans
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Laredo Petroleum, Inc. announced its capital budget, anticipated production growth and updated commodity derivative positions for 2015.
2015 Capital BudgetLaredo announced that its Board of Directors has approved a $525 million capital budget for 2015. The budget includes approximately $430 million for drilling and completions, approximately $35 million for production facilities, approximately $25 million for Laredo Midstream Services, and approximately $35 million for land and other capitalized costs. The budget includes approximately $100 million for completion activities and production facilities related to 2014 drilling activity.
Randy A. Foutch, Laredo Chairman and Chief Executive Officer, commented: "Our 2015 capital budget demonstrates the Company's ability to operate efficiently…
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