EOG Resources, Inc. (NYSE: EOG) is one of the largest crude oil and natural gas exploration and production companies in the United States with proved reserves in the United States and Trinidad.
EOG expects to spend $3.7 billion-$4.1 billion this year to maintain oil production at 440,000 boe/d and complete approximately 500 net wells as it continues to increase shareholder value and returns with a focus on wells that generate a 60% rate of return at $40 oil in 2021
EOG Resources First Quarter 2021 Generated $1.1 billion of free cash flow, incurred $945 million of cash capital expenditures and operated 19 drilling rigs
EP Energy 2021 budget GUIDANCE $370 million and reported production of 51,000 barrels of oil equivalent (BOE) per day.
EOG capital plan of $3.7 to $4.1 billion plan maintains 2021 crude oil volumes of 434,000 to 446,000 Bopd, approximately flat with 4Q 2020.
147 Oil & Gas Operators that spud (drilled) 681 wells in Texas, Louisiana, New Mexico & Oklahoma last 30 days. The map shows the location and spud count.
chart shows a strong recovery of well permits from EOD since COVID. We also see a drilling recovery I expect to continue to improve in 2021.
EOG Well Permits 2020