Tulsa-based Laredo Petroleum said recently in its quarterly financial report that it will send a completions crew to Howard County in September to begin operations on 15 wells in 2020Q4. Well costs are expected to be $550 per lateral foot. Laredo expects the additional activity to improve production beginning in 2021Q1. Jason Pigott, president and CEO, said, “Steady completions activity in Howard County, combined with increased commodity prices and hedges in 2021, supports an estimated $120 million in additional cash flow in 2021 and should return our oil production to full-year 2019 levels.”
During 2020Q2 Laredo completed 5 gross (4.6 net) horizontal wells on its recently-acquired acreage in western Glasscock County. Laredo said Aug. 5 it is currently operating 1 drilling rig in Howard County.