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Permian E&P To Boosts 2H16 Rig Count
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Laredo Petroleum, Inc. announced it has updated its 2016 capital budget and estimated production.
Key Points: Board of Directors has approved a revised capital budget of $420 million for 2016 (up from $385 million) The Company now expects to operate three horizontal rigs for the entirety of 2016 (up from two) and anticipates drilling approximately 45 to 49 gross horizontal wells (compared to 37 originally planned). Revised 2016 Capital BudgetLaredo today announced that its Board of Directors has approved a revised capital budget of $420 million for 2016, excluding investments in the Medallion Gathering & Processing, LLC pipeline system. The budget includes approximately $345 million for drilling and completions, approximately $35 million for production facilities and approximately $40…
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