Top Story | Capital Markets | Capex Increase | Capital Expenditure - 2018 | Drilling Increase
Permian Operator Bolsers 2018 Budget by Over +30%; Adds Wells to Agenda
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Ring Energy has bumped up its 2018 budget by approximately $47 million, making an estimated total of $197 million (an increase of over +30%).
Ring is not the first company to increase its budget plans for 2018 - click here to find out which companies have also ramped up spending for the year.
The Company has increased its second half 2018 budget by $10 million to approximately $85 million.
The budget includes the drilling of 26 new horizontal San Andres wells on its CBP, two new North Gaines horizontal wells and two new Brushy Canyon horizontal wells on its Delaware Basin property. Additionally, the budget includes multiple workovers on existing San Andres horizontal wells and extensive infrastructure upgrades and improvements as the Company continues to maximize the potential of all…
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