Antero cuts spending, reduces rigs but still plans for production growth of 9%
Monday, May 4, 2020
Although Antero Resources is cutting its 2020 capital budget again, reducing drilling rigs in the Appalachian Basin and deferring 20 well completions into 2021, it’s projecting 2020 production growth of 9%, according to Kallanish Energy.
Antero is reducing its 2020 capital spending by 35% from an initial $1.15 billion to the current $750 million. The new budget is 41% lower than what the company spent on capital projects in 2019.
Additionally, it is reducing its rig count from the four rigs in early 2020 to one rig for the rest of the year and cutting its completion crews from three to one in May for the rest of 2020.
Learn more: Kallanish Energy > Antero sticks with full-year 2020 production growth of 9%
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