Top Story | Capital Markets | Capital Expenditure | Capital Expenditure - 2020 | 2020 Guidance
Oxy Takes Axe To 2020 Capex; Well Count Down 45% Y/Y
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In a move that was somewhat expected, but not as drastic Oxy outlined its 2020 capex and the cuts are deep. A picture is worth a thousand words. The the picture below. Lets focus on a few areas.
Rockies (previously anadarko's asset) (2019 capex based on Anadarko's initial capital guidance. All areas are being cut next year. Which means, we should expect the company to lay down rigs throughout the rest of the year.
As you can see from the chart, Permian will be down 50% next year, and DJ and Powder down some 40% as well.
Well Count (Permian Basin ONLY)
Well for 2019 is based on Oxy and Anadarko's initial drilling program guidance. 2020 program was constructed is based on Oxy's disclosed capex and the the fact that of the $2 billion 70% is normally used for D&C and 15% for…
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