Production Rates | Capital Markets | Capital Expenditure | Capital Expenditure - 2020
Laredo Issues 2020 Capex Program; Oil Growth, $360 Million
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Laredo Petroleum finally provided a full year 2020 capex and production guidance, after issuing initially a 1Q2020 guide. We have written at length about the fact that the compay production over the last year had gotton gassy, two acquisitions were announced last year in an effort to boost its oil mix.
2019 Actuals
- Oil Mix fell off the cliff from 43% to 32.5%
- NGL becoming a larger part of the mix, at a time when NGL prices are falling
2020 Program
The company said it's budget is based on $50 WTI and $2.25 per MMbtu Henry Hub (HH) pricing.
Regarding production growth (the company said mid-single digit oil and equivalent daily production growth) which we interpret as 5% growth.
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