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PS - EOG shifts D&C to wells profitable below $30/bbl in two plays - May 13, 2020
EOG Resources altered its 2020 plans to fit a sub-$30/bbl environment. Capex was lowered by $3 billion from the original target to current guidance of $3.3-3.7 billion. In just six weeks, the company dropped 78% of its rigs, going from 36 to eight, and 69% of its frac spreads, going from 16 to five. The company has identified more than 4,500 net drilling locations that will generate returns at less than $30/bbl WTI and......
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