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Bullish on Oil: Operators Turn on Taps After Curtailments
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This week, several companies have announced that they are placing the majority of their curtailed production back online.
They largely credit the improvement in oil prices as the catalyst.
EOG ResourcesThe company said it expects oil prices to continue to recover and head higher in the coming months. To demonstrate its belief, the company decided to cash out its second half 2020 hedges.
During the RBC Conference, EOG Resources noted that the resurgence in oil prices has given them a more positive outlook for 2H20.
EOG Closes HedgesDuring the Q&A session of the presentation EOG's E&P VP Ken Boedeker signaled that it will "accelerate" output in the coming months. Additionally, he noted that the company has closed out its hedges due to the relative rebound.
Q: One of the questions is that…
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