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EOG Touts EOR 'Breakthrough' in the Eagle Ford; Efficiency Gains
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EOG Resources, Inc. reported a first quarter 2016 net loss of $471.8 million, or $0.86 per share. This compares to a first quarter 2015 net loss of $169.7 million, or $0.31 per share.
Highlights: Completes First Economic Enhanced Oil Recovery Test in U.S. Horizontal Shale Reservoir EOG confirmed success of its internally developed EOR process in the Eagle Ford following more than three years of testing in four successful pilot projects with 15 producing wells. Adds New Reserve Potential at Single Digit Per Barrel Costs Generates High Net Present Value Delivers Rates of Return on Investment Exceeding 30 Percent at $40 Oil Price Extends EOG's Horizontal Technology Gains Announces Successful South Texas Austin Chalk Exploratory Results Reports Strong Quarterly Operating Results…- ✓ Full news archive — U.S., Canada & international coverage
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