EOG resources announce they have increased their Eagle Ford investments to almost 2,000 locations.
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.
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