EOG Resources 2016 Q2
EOG resources announce they have increased their Eagle Ford investments to almost 2,000 locations.
Related: EOG Highlights Eagle Ford Well Performance
For the second quarter of 2016, EOG Resources reported a net loss of $292.6 million while increasing their premium drilling locations from 3,200 to 4,300. They were also able to decrease cash operating costs per unit by 15% compared to full-year 2015.
Eagle Ford Operations
During a conference call last week, EOG executives highlighted their Eagle Ford assets, saying these continue to lead the company in activity and production.
“Year after year, we improve our well productivity in the Eagle Ford. Much of this year’s increase can be attributed to our shift to premium drilling. However, just 60% of our 2016 drilling program is premium, so we expect to see improvement for many years to come.”
Eagle Ford Highlights for 2016 Second Quarter
- Increased premium inventory by 390 net drilling locations to almost 2,000 total
- Completed 60 wells with an average treated lateral length of 4,800 feet per well
- Averaged 30-day initial production rate per well of 1,705 barrels of oil equivalent per day (Boed)
- Droped total well cost another 11% year to date to $5.1 million