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PS - Concho beats year-end well costs reduction target a quarter early - October 30, 2019
During Q3, Concho Resources surpassed its YE19 well cost reduction goal by 10%. Drilling, completion and equipping costs averaged $955/ft, representing a 20% improvement compared to 1H19. The improvement was led by the Delaware basin, where DC&E costs are down 28% vs. H1 at $1,118/ft. Midland Basin costs fell 13% to $791/ft during the period. Concho plans to further reduce costs through optimizing drilling, completion and facilities design; increasing use of in-basin sand to......
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