EOG is reaping the benefits from being an early mover in the Eagle Ford Shale. The company was able to build an over 500,000 acre position for $450 per acre, while industry deals are now trading above $20,000 per acre. After assembling its acreage position, EOG drilling operations commenced and the company has gone for 0 to 23,000 barrels of oil per day in just 18 months.
The company did a recent interview on its Shale Oil operation with CNN and you get a taste for how early the company began moving into liquids plays. [Read more…]