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Vanguard Unveils 2018 Spending Plans; New CEO Takes Helm
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Vanguard has detailed its 2018 capital plan as well as named Richard Scott Sloan as its new President & CEO. The company also detailed three other executive changes.
The executive shuffle may be related to the company's hiring of advisors to explore strategic alternatives in October 2017. Shortly before this (in August 2017) the company emerged from bankruptcy.
In September, the company scored $240MM from the equity markets for drilling and completion activity.
2018 PlansThe company will be focusing its spending on the growth of its Pinedale, Piceance and Arkoma assets.
- 2018 Capex: $160 million (company was going through bankruptcy in 2017 - so no comparable budget)
D&C: $135 million (85%) - Pinedale $93 million / Piceance $21 million / Arkoma Woodford $18 million Other: $25 million…- ✓ Full news archive — U.S., Canada & international coverage
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