Hedging | Capital Markets | Capital Expenditure | Capex Decrease | Drilling Program-Rig Count | Capital Expenditure - 2020
Matador Cuts 2020 Capex by 35% After Cutting Half of Rigs; Updates Hedges
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Matador Resources Co. has made further adjustments to its plans for 2020.
This comes after the March 11, 2020 announcement in which it reported plans to cut its spending plans and reduce executive salaries.
Cuts $250MM from Capex (Down 35% from Original)Having already cut its rig fleet from six to three (in early March 2020), Matador now plans:
Operated and non-operated D/C/E capital expenditures are expected to be reduced by approximately $250 million (or 35%) compared to approximately $720 million in D/C/E capex originally announced in February 2020 Operating costs, particularly lease and G&A expenses, will be reduced by approximately $40 million. Most of these reductions are attributable to general and administrative expenses, resulting primarily from (1) anticipated reductions in…- ✓ Full news archive — U.S., Canada & international coverage
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