Eog

Lower 48 heavyweights EOG Resources Inc. and Coterra Energy Inc. are reducing activity in their natural gas plays to deal with slipping commodity prices. However, the pullback does not dim the long-term bullish outlook, EOG CEO Ezra Yacob said. During the first quarter conference call, Yacob said the Houston-based independent is still “constructive on future…

EOG Resources Inc., a multi-basin exploration and production firm, said its strong fourth quarter and full-year 2022 results were powered by robust natural gas and oil demand, price spikes and steady production activity. For the year, EOG said, the natural gas prices it fetched jumped 49% from a year earlier, while crude prices increased 42%.…

U.S. natural gas and oil drilling permit activity ended the year surpassing expectations, climbing 13% in December or up by 389 permits from November, according to Evercore ISI. The energy analyst team led by James West compiles domestic permitting figures using state and federal data. Lower 48 permits often are issued three to six months…

Oil and natural gas permitting in the Lower 48 slowed down sequentially in October, although the monthly permit count was up on both a year/year basis and when compared to pre-Covid October 2019 numbers, Evercore ISI data show. Operators filed a total of 3,308 permits last month, down 16% from September but up 25% versus…

EOG Resources Inc.’s recent performance and long-term prospects for natural gas growth are inspiring more exposure to high commodity prices and an ongoing emphasis on low costs and high returns, management said.  CEO Ezra Yacob told investors during a second quarter conference call the firm’s performance during the first half of the year “proves that…

Cheniere Energy Inc. said Wednesday it made a positive final investment decision (FID) to expand its Corpus Christi liquefied natural gas (LNG) export terminal in South Texas.  The project would add seven midscale liquefaction trains and 10 million metric tons/year (mmty) of capacity at the facility as global demand for LNG surges. “Reaching FID on…

For the first four months of 2022, liquefied natural gas (LNG) exports from Texas’ Port of Corpus Christi were up 56.2% over the previous tonnage record set in January through April 2020, the port authority said Monday. The Port of Corpus Christi’s CEO Sean Strawbridge said “we have the table set for meeting the increasing…

EOG Resources Inc. has updated its plans for developing stacked natural gas pay zones in the massive Dorado natural gas play in the Austin Chalk and Eagle Ford Shale in South Texas. “Our preliminary plan for the play was to focus initial development on the Austin Chalk formation and then follow that with the Eagle…

Houston-based EOG Resources Inc., one of the Lower 48’s biggest oil and natural gas producers, is looking to give back to shareholders instead of boosting volumes, with discipline still the mantra going into 2022. The independent delivered better-than-expected natural gas, oil and liquids production during 3Q2021, along with sharply higher profits, CEO Ezra Yacob said…