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CM - EOG deepens spending cuts & shut-ins, stays in black in Q1 - May 2020
EOG Resources Inc. announced that it had further reduced 2020 capex by $1.0 billion at midpoint to the $3.3-3.7 billion range, an overall 46% drop from original guidance. It has cut its operated rig count down to eight from 36 since the end of March and expects an average of six to run through the rest of the year. It will shut in existing wells and delay starting up almost 150 net new wells......
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