EOG uses new technology in its Eagle Ford operations.
In a recent presentation, EOG’s Executive VP, Exploration and Production, Billy Helms, reflected on five qualities that he believes is keeping the company competitive and as a leader in the industry. Most notable is the company’s focus on advancement and completion technology.
Recent examples include EOG’s high density completions that help maximize recovery are increasing the recovery in every acre of land that the company has.
EOG has used this new technology in the Eagle Ford, where it has increased completion improvements by 33% from 2014-2015. EOG is also focusing on finding the best rock by understanding the rocks and how they improve the recovery through ‘targeting’. The company has identified a couple of targets that will increase recovery in the productive interval.
Another characteristic touted by EOG is its ability to cut costs. There has been a 10% cost reduction in the company’s Eagle Ford well costs this year. oNe of the factors here is reduction in drilling time. In 2012 it took us 14 days to drill a well and now it takes a little over a week.