Officials from Houston-based EOG Resources said last week they have trimmed the company’s 2026 capital budget by about $100,000 because of continued efficiencies in operations in Delaware Basin and faster-than-expected integration of Encino in Utica Basin acquired last year. Ann Janssen, CFO, said at a Goldman Sachs conference that EOG capex now is forecast at $6.5 billion compared to last fall’s estimate of $6.6 billion.
Janssen said the $6.5 billion budget is up from $6.3 billion in 2025. She said that translates to “low to no growth” in production this year compared to 2025Q4. She said EOG continues to see cost improvements in Delaware Basin and Eagle Ford. “It’s not happening by accident,” Janssen said. “It’s by us investing in infrastructure, investing in learnings, and trying to grow those and get better. U.S. shale has a lot of opportunity.”