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EOG Ups Capex, Adds 20 New Eagle Ford Completions; Cuts Well Costs Across Plays
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EOG Resources reported its Q3 2018 results.
Increased 2018 Capex / Adds 20 Eagle Ford Completions to AgendaThe company elected to retain high performing service providers for the remainder of 2018. Approximately 65% of its anticipated 2019 services have been secured at competitive pricing. As a result, EOG increased its 2018 exploration and development expenditure forecast to $5.8 to $6.0 billion.
This is an increase of +5% at the midpoint from $5.4-5.8 billion originally plannedEOG now expects to complete approximately 720 net wells in 2018, an increase of 20 net wells from its prior forecast. This echoes Shale Experts' previous story about the company ramping up activity across the majority of its plays.
All of the 20 new completions will be in the Eagle Ford.EOG has raised its…
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