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U.S. E&P to Drill & Complete 170 Wells in 2020; Niobrara, Permian
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Noble Energy provided an update to its 2020 development program.
The company announced a 2020 capex program of $1.7 billion (midpoint of guidance) which is down -30% from 2019. The program will see corporate production growth +10% and corporate oil production up +2.6% to 395 Mboe/d and 138 Mbbls/d.
The company does not plan to allocate any capital to the Eagle ford asset and took at $1.1 billion charge related to the asset. The company shifted capital from the Eagle ford to the DJ Basin where the company intends to spend $17 million more in 2020 and complete 11.1 more wells.
Here is a break-down of the Capital program by Region.
Capital Budget/ ExpendituresBreakdown of Wells to be drilled and completed by Region
Completions / Wells Frac'd Drilling / Rig Program 2020The comp…
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