Houston-based EOG Resources said recently that efficiencies and cost-reduction strategies developed in its foundational assets in Delaware Basin and Eagle Ford are delivering operational improvements in the company’s emerging plays. EOG reported Aug. 3 improvements of up to 25 percent in daily drilled footage in Dorado dry gas play in south Texas, Ohio Utica and Powder River Basin in Wyoming.
Ezra Yacob, chairman and CEO, said, “Along with strong performance in the Delaware Basin and Eagle Ford, we are pleased by the outstanding progress across our emerging plays. South Texas Dorado, southern Powder River Basin and Ohio Utica combo are achieving significant operational improvements, driving lower costs and supporting higher returns. EOG is performing better than ever with the benefits of our multi-basin portfolio providing a clear runway to drive further improvements and value.”
Total oil production in 2Q of 476,000 b/d was above midpoint of guidance and up four percent from 1Q. NGL and natural gas production also were above midpoint of guidance. Fullyear guidance for oil production is 471,000 to 476,000 b/d. EOG’s oil production in 2022 was 460,700 b/d after 443,400 b/d in 2021 and 408,100 b/d in 2020.