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EOG IDs 2017 Capex of ~$3.9 Billion; Up +45% YOY
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EOG Resources reported ts Q4 2016 results and its 2017 outlook.
2017 Plans 2017 capex of $3.7-4.1 billion (up ~45% from $2.7 billion in 2016) Complete 480 net wells (up +8.0% from 2016)EOG's 2017 plan is designed to maximize returns and grow crude oil volumes while maintaining a strong balance sheet through disciplined spending. EOG expects to grow total company crude oil volumes by 18 percent, assuming investment and dividend payments within cash flow at a $50 average oil price.
Capital expenditures for 2017 are expected to range from $3.7 to $4.1 billion, including production facilities and gathering, processing and other expenditures, and excluding acquisitions. The company expects to complete approximately 480 net wells in 2017, compared to 445 net wells in 2016. EOG anticipates…
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