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Laredo Petroleum Oil Production Falls, Getting Gassy
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Laredo Petroleum, Inc. is reporting that it has increased its completion and spending plans for the full-year 2019. However, given a closer look, something bigger is happening here.
The real story that is emerging is that the company's production getting gassier. The company said in its September 2019 presentation that it's wider spaced wells are getting more olier, however the data being reported from the same company quarterly is showing a different story. Look below, the company has seen its oil mix go from 43% in Q1 of 2018 to 34% in Q3 2019.
Source : Shale Experts Presentation Database, via Laredo Petroleum
As you might remember, Laredo talked about issues it faced with spacing wells too close. The company said recently that it had fixed the problem - however, a look at the…
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