Is maintenance capital the new, wholesome benchmark?

Back in the day, this industry was all about spending more capital. Today that is changing. The goal used to be leasing as much acreage far and wide as you could. Send an army of landmen to every county and line them up on the doorstep of the courthouse at dawn. Plant a stake in every play, ink more joint ventures and farm in to every well that is proposed; get access to more data than anyone else, if nothing else.

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