Commodities and Futures News
EOG eyes 10% well cost increase in 2023, maintains low single-digit oil growth
2022.11.04 11:11
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© Reuters. FILE PHOTO: The logo of U.S. oil and gas company EOG Resources is seen in its office in Chongqing, China December 15, 2017. Picture taken December 15, 2017. REUTERS/Chen Aizhu
(Reuters) – U.S. shale producer EOG Resources (NYSE:) said it anticipates well cost to increase by 10% next year, on top of a 7% increase in 2022, as inflation continues to snarl the oilfield.
EOG, which this week announced it had extended operations into Ohio, will maintain low single-digit oil growth next year. Oil equivalent growth, which includes gas and liquids, will grow at a low double-digit rate, executives told investors on Friday.
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