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EOG Resources may delay some Dorado gas wells in Texas due to low prices
2023.05.05 11:06
© 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/File Photo
DENVER (Reuters) – U.S. shale producer EOG Resources (NYSE:) on Friday said it may delay some well completions in its Dorado play in Texas due to a low price environment.
Natural gas prices tumbled around 50% at the start of this year. On Friday Henry Hub futures were trading around $2.13 per million British thermal units (mmBtu).
The company said that well costs should increase no more than 10% this year compared to 2022 as oilfield inflation has shown signs of leveling off.
Shares of EOG were up 4.3% to $116.11 in early trading.
