Laredo Petroleum cut its 2020 capex budget by 36% to $290 million, with a 55% reduction in Q2-Q4. Completion operations will be suspended for the year beginning the first week of May. The company’s operated rig count will also fall to one from four by June for the rest of the year. Laredo will not complete any wells on its new acreage in Howard County, Texas, this year and will build a DUC inventory......
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