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WS - PDC adding Wattenberg DUCs, suspending completions until Q4 - June 30, 2020

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PDC Energy significantly scaled back its Wattenberg field plans for 2020. Capex guidance was lowered by $300 million to $450 million, a 40% cut. The number of wells to be spudded was reduced by 40% to 100 from a previously planned 165. Lateral lengths will average 8,900 ft. After dropping from three active rigs, the company will run one through year’s end. The number of planned completions was slashed 45% to 120 from 220.......
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