Well Lateral Length | Top Story | Capital Markets | Capital Expenditure | Drilling Program | Capital Expenditure - 2018
Pure-Play Permian Operator Cuts 2018 Capex; Plan 60 Completions
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Laredo Petroleum provided guidance into its 2018 development. Below are the details. Here is a quick read.
Total Capital of $555 million excluding acquistions. Aprox. $470 for drilling and completions and $85 for production facilities, land and other. This is down -12% vs 2017.
Laredo is currently operating 3 horizontal rigs and expects to increase to 4 in the 2nd half of 2018.
Completion plan calls for 60-65 net wells with average lateral of 10,400 ft (up from 10,000 ft in 2017)
Expect to operate within cash flow by year-end 2018.
Formation target is upper and middle wolfcamp.
Production Growth expected to be +12%Capex YoY is down -12%. *** This comes with a caveat, the company is already facturing in cost inflation from 2H17, where we saw well cost increase by $700,000.
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