Houston-based EOG Resources said recently its 2025 capital program includes “steady year-over-year activity levels” in Delaware Basin with increased activity in Utica and Dorado plans. EOG said Feb. 27 in its quarterly report, “The plan delivers 3 percent oil volume growth and 6 percent total volume growth through the drilling and completion of 605 net wells across EOG’s multi-basin portfolio.” Total expenditures for 2025 are $6.0 billion to $6.4 billion, including reducing average well costs by 6 percent.
Ezra Yacob, chairman and CEO, said, “We are excited about 2025 where we have detailed a disciplined plan that builds on last year’s success and lays a foundation for the future… Oil and total volumes (in 2024) were higher than our original plan, capital expenditures were on target, and we continued to lower cash operating costs. We improved productivity and base production performance through innovations in completion design and artificial lift automation.”
Last year EOG increased oil production 3 percent to 491,000 b/d, NGL production by 10 percent, natural gas production by 14 percent, and total equivalent production by 8 percent.
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