Rosetta Resources Raises 2013 Capital Expenditure Guidance

Rosetta Resources Inc. raised its 2013 capital guidance to $840 million to $900 million, from $640 million to $700 million.

The 2013 capital program is based on a five to six-rig program in South Texas and a Delaware Basin program with three rigs increasing to six rigs during the year.

Rosetta said about $600 million will be spent for development activities primarily located in the liquids-rich window of the Eagle Ford shale in South Texas, including about $55 million allocated to facilities projects. About $175 million will be allocated to operated and non-operated development activity in the oil-rich Delaware Basin, including about $7 million for facilities projects.

Last month Rosetta agreed to buy all of Comstock Resources Inc.'s oil and gas properties in the Reeves and Gaines counties of West Texas for $768 million, giving Rosetta exposure to the Permian Basin and a complement to its Eagle Ford properties.

On Monday, the company noted the guidance range now includes about $25 million of capitalized interest related to the pending acquisition. The remainder of the capital plan includes allocations for new ventures activity and other corporate capital.

Copyright (c) 2012 Dow Jones & Company, Inc.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
CFO/ Senior Financial Manager
Expertise: Accounting|Financial Analyst
Location: Carrizo Springs, TX
 
Sr. Accounting Specialist- Revenue, Severance Tax
Expertise: Accounting
Location: Houston, TX
 
Sr. Accountant / Accounting Specialist, Revenue Accounting
Expertise: Accounting
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $55.49/BBL 2.45%
Light Crude Oil : $52.42/BBL 2.04%
Natural Gas : $3.2/MMBtu 5.04%
Updated in last 24 hours