Capital Markets | Capital Expenditure | Drilling Program - Wells | Drilling Program-Rig Count | Capital Expenditure - 2022
Laredo to Drill 65, Complete 55 Wells in 2022; Two Rigs, 1-2 Frac Crews
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Laredo Petroleum, Inc. announced its capital budget and production guidance for full-year 2022.
2022 Plan- Capex: $520 million - up 17% vs. 2021
D&C Total: $436 million D&C Op: $416 million (80%) D&C Non-Op Activity: $20 (4%) Facilities & Land: $46.8 million (9%) Corporate: $36.4 million (7%) ESG: $10 million- Rigs Running: 2-3 rigs
- Frac Crews: 1-2 crews
- Well Plans: Spud 65 (62.9 net) wells :: Complete 55 (53.1 net) wells :: Turn-in-line 55 (53.1 net) wells
- Production: 82-86 MBOEPD - up 3% vs. 2021
Oil Production: 39.5-42.5 MBOPD - up 29% vs. 2021Highlights
Allocates capital to highest-return opportunities, prioritizing the generation of Free Cash Flow1 and leverage reduction Maintains capital discipline with flat activity levels versus 2021, with expected total…- ✓ Full news archive — U.S., Canada & international coverage
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