Top Story | Quarterly / Earnings Reports | Third Quarter (3Q) Update
STACK/SCOOP Operator Suspends Drilling & Completion Activity
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Roan Resources, Inc. has reported its Q3 2019 results
Suspended Drilling & Completion Activity"Roan has also elected to temporarily curtail its drilling and development activity and to suspend all completion activity. This reduction in activity is to allow our new CEO, Rick Gideon, time to assess the Company’s overall operations plan. As a result of this change, investors should no longer rely on the guidance provided by the Company on its last quarterly investor call, and Roan does not expect to otherwise update or provide further guidance."
We believe this has more to do with the preservation of capital than anything else. Here is a look at the info.
FY 2019 Capex Guidance was $495-525 (mid-point $510 million) and YTD capital investment amounts to $416 of the $510 million. From the…
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