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EOG Touts Latest IP30s in Key Plays; Production Up +16% YOY to 660 MBOEPD
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EOG Resources reported its Q1 2018 results.
Highlights:- Q1 production of 660 MBOEPD (up +16% YOY and flat from 4Q17)
The company increased first quarter 2018 crude oil production by 15% compared to the first quarter 2017 EOG maintained its forecast for 16 to 20% crude oil growth for full year 2018 Delaware Basin - Shift to Larger-Scale DevelopmentRunning 19 rigs (up +46% from 13 in 2017) 70 new wells began production
In the Delaware Basin Wolfcamp, EOG completed several notable wells, including the State Magellan 7 22H-28H:
500' spacing 4,700' average lateral Average IP30 of 2,200 BOEPD (1,455 BOPD, 310 BPD of NGLs and 2.6 MMcf/d of gas)In the Delaware Basin First Bone Spring, EOG completed the Beowulf 33 State Com 301H in Lea County, NM:
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