Well Lateral Length | Rig Count | Proppant | Capital Markets | Capital Expenditure | Drilling Program - Wells | Capital Expenditure - 2017 | Private Equity Activity | Drilling Contractor
Permian Operator Ups 2017 Spending +26% to $530MM; 70 Completions
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Laredo Petroleum detailed its 2017 capital budget and anticipated production growth and its conference call to discuss fourth-quarter and full-year 2016 results.
Key Points: 2017 Capex of $530 million (up +26% YOY) Four operated rigs running (increase of one rig YOY) Drilling / Completing 70 horizontal wells 85% of activity in Upper / Middle Wolfcamp 15% of activity in Spraberry / Cline 2017 Capital BudgetLaredo has approved a $530 million capital budget for 2017. The budget includes approximately $450 million for drilling and completions activities and approximately $80 million for production facilities and other capitalized costs, including completions testing, data acquisition and land. The approved budget does not include potential investments in the Medallion-Midland…
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