Debt | Production Rates | Hedging | Capital Markets | Capital Expenditure | Capex Decrease | Capital Expenditure - 2020
Silverbow Cuts Capex 55% for 2020; Suspends D&C Activity
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SilverBow Resources, Inc. has announced changes to its 2020 plan in response to the COVID-19 pandemic and the oil price slump.
Cuts Capex 55%; Suspends D&C SilverBow suspended drilling and completions activity until commodity prices warrant further investment. As such the Company is now guiding to a 2020 capital program of $80-$95 million, a 55% reduction at the midpoint from the previous guidance. The Company deferred completing and bringing online eight oil wells until at least the second half of 2020. Production - Curtailments SilverBow expects first quarter total net production to average approximately 230 MMcfe/d, with a commodity mix of 79% natural gas, 12% oil, and 9% natural gas liquids. During the second half of March, the Company elected to curtail approximately 35 MMcf/d…- ✓ Full news archive — U.S., Canada & international coverage
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