Centennial Resource Development CEO says 2020 plan looks to organic growth, is not targeting big M&A deals
Centennial Resource Development (ticker: CDEV) announced third quarter results today, showing net income of $39.3 million, or $0.15 per share.

Centennial produced 62.9 MBOEPD in Q3, up 81% from last year and up 9% from Q2 2018. The company spent $273.6 million this quarter, up significantly from the $203.2 million the company spent in Q2. This increase is because Centennial completed a higher number of wells in Q3. Despite this increase, however, the company is sticking to its CapEx guidance, and is one of the few E&P companies in the country that has not increased CapEx guidance in the year.

Centennial also added a ...

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