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Rosetta Outlines Billion-Dollar 2014 Budget; Will Focus on Texas Ops
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Rosetta Resources Inc. has approved a 2014 capital budget of $1.1 billion.
Approximately $735 million, or approximately 67 percent, will be spent on development activities in the liquids-rich window of the Eagle Ford shale in South Texas. Approximately $265 million, or 24 percent, will be spent on activities in the Delaware Basin in West Texas. In addition, the 2014 budget allocates approximately $100 million for other capital items, including evaluation of new venture opportunities, capitalized interest and other corporate capital.
The 2014 capital expenditure program will be funded from a combination of internally generated cash flow, cash on hand, and borrowings under our credit facility.
Jim Craddock, Chairman, Chief Executive Officer and President, commented: "The 2014 capital plan…
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