With three quarters of 2019 now over, many oil and gas operators are adjusting their capex and production guidance. While revisions happen every year, they have become the norm in 2H19 as companies announced Q2 results and H2 plans. At the beginning of Q3, Ultra Petroleum elected to drop one of its two active drilling rigs, lowered capex by $60 million and trimmed production guidance by less than 2% (PG.1). By the end of......
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