The WTI front-month contract closed at $55.26/bbl on December 22, down 48% since June 30. Given the backdrop, upstream companies that recently announced their 2015 capital plans --- Laredo Petroleum, Rosetta Resources and Approach Resources --- have cut Permian spending for 2015, in some cases by more than half.Laredo is reducing its budget in 2015 to $525 million, down from $1.3 billion in 2014. On its Permian-Garden City acreage in (Glasscock, Howard, Irion, Tom Green,......
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