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Tag Archives: EOG Resources

‘We really don’t plan on giving up our lead,’ EOG chief says

'We really don't plan on giving up our lead,' EOG chief says

William Thomas, chairman and CEO of Houston-based EOG Resources, told the audience at the 2016 NAPE Summit that he does not plan to surrender the lead his company has made as the largest onshore oil producer in continental United States. “We really don’t plan on giving up our lead,” Thomas said at the George R. Brown Convention Center in Houston. ...

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U.S. oil output on brink of “dramatic” decline, exec says

LONDON – Oil executives warned on Tuesday of a “dramatic” decline in U.S. production that could pave the way for a future spike in prices if fuel demand increases. Delegates at the Oil and Money conference in London, an annual gathering of senior industry officials, said world oil prices were now too low to support U.S. shale oil output, the ...

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North Dakota may let more oil wells be temporarily idled

WILLISTON, N.D. – North Dakota’s oil regulators said on Monday they may allow more wells to be temporarily abandoned, a step that would permit producers to delay fracking beyond the typical one-year window and prevent even more crude from flooding onto global markets. The change would fuel massive savings for oil producers in the state who have amassed a backlog ...

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Eagle Ford expert: No telling how low oil can go

Just when oil seemed to have finally gained some momentum, West Texas Intermediate plummeted to $39 a barrel Monday morning. The dive left one crude economic expert with a phrase to capture the warranted anxiety of the industry: “All bets are off.” Thomas Tunstall, an economics professor at the University of Texas at San Antonio and notable expert with energy ...

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In downturn, frackers turn to toilet water in drought-prone Texas

HOUSTON– Top shale oil producer Pioneer Natural Resources Co <PXD.N> has found an unusual way to both save water and cut costs for its wells: tapping the treated runoff from toilets, sinks and showers in west Texas. Pioneer has signed an 11-year, $117 million deal with the city of Odessa, Texas that will guarantee it access to millions of gallons ...

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Family attacks EOG after water well explosion leaves permanent scars

EOG Resources and several other companies are facing a lawsuit from a family that suffered damages when their water well ignited into an immense explosion due to methane from nearby fracked wells. Desmog reports that the family of four, including a four-year-old child, her parents and her grandfather, were the victims of an explosion that occurred due to their water ...

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Breaking even: Bakken still profitable, but barely

The oil price crash just can’t keep a good shale driller down. According to a Bloomberg Intelligence analysis, parts of North Dakota’s Bakken shale formation continue to be profitable at less than $30 per barrel, half the amount of some predictions gave last year when prices began to drop. As companies tap larger wells and reap the benefits of decreased ...

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EOG profit beats Street as cost cuts offset drop in oil prices

EOG Resources Inc reported a better-than-expected adjusted quarterly profit on Thursday as the oil producer successfully slashed well and transportation costs to offset plunging crude prices. The price drop has hamstrung nearly all of the energy industry this past year, forcing many companies to lay off staff and curb spending. While EOG is trimming its capital budget for the year ...

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Oil, saltwater spill reported at well site near Parshall

BISMARCK, N.D. — North Dakota regulators say 20 barrels of oil and 246 barrels of saltwater spilled at a well site near Parshall. Officials say the spill was reported Wednesday by Houston-based EOG Resources, which owns the well. The company says the oil and saltwater was contained and recovered at the site, about four miles southwest of Parshall. The company ...

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