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MCS - Devon trims 2019 STACK growth plans in favor of cash flow - August 14, 2019
Given the current price environment, Devon Energy has reduced its planned 2019 STACK capex by $50 million to $325-375 million. With the revised plan, the company expects $300 million of free cash flow from the play. The strategy is to prioritize cash flow over volumes growth. H2 activity will decline by ~40% compared to H1. Now that Devon has right-sized its well spacing at four to six wells per DSU, it is tallying stronger......
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