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Updated: A Look at the Permian Operators Cutting Rig Programs for 2019
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Shale Experts is taking a look at planned rig activity for 2019. Several E&Ps have already announced rig plans, which are detailed below.
Many of the companies are cutting down on rigs for 2019 (compared to 2018) due to the price volatility the industry has seen in recent months.
**NOTE: This has been updated as of February 7, 2019
On February 19, 2019, Concho detailed its plans, which called for a rig count decrease in the Permian (down 8 rig to 32).
On February 19, 2019, Diamondback updated its previous guidance (given on 12/10/2018), the company plans to average 20 rigs, however end the year with 14 rigs. (down -6).
On February 12, 2019 , Callon said it will be cutting its rig count from 6 to 4 by mid year.
On February 13, 2019, Laredo Petroleum detailed its plans, which called for…
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