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PS - Earthstone targets 20% Permian-fueled 2020 production growth - February 2020
Earthstone Energy set its 2020 capital budget guidance 21% lower compared to 2019 at $160-170 million, with $145-155 million allocated to drilling and completions. The plans assumes a one-rig program in the Midland Basin and the turning to sales of 19 operated wells (85% WI) and 3.1 net non-operated wells. Production is forecast to grow by 20% YOY to 15,500-16,500 boe/d (64% oil). The company anticipates generating free cash flow by H2. During 2019,......
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