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4-Traders Homepage  >  Equities  >  Nyse  >  EOG Resources Inc    EOG

Delayed Quote. Delayed  - 08/26 10:02:15 pm
90.18 USD   -0.08%
08/15 EOG RESOURCES : boosts fracking plans
08/05 EOG RESOURCES : Announces Second Quarter 2016 Results
08/05DJEOG RESOURCES : Swings to Loss but Boosts Well Completion Target
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EOG Resources : boosts fracking plans

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08/15/2016 | 07:43am CEST

Shale oil bellwether EOG Resources boosted this year’s fracking plans by 30 per cent, saying it expected big returns on new wells even as oil dipped back to $40 a barrel.

The plans are the boldest yet among US shale oil companies, many of which have raised their production forecasts in recent days after posting second-quarter results. The upward revisions highlight how the fittest shale companies, mainly those with the oiliest land, are surviving at a time when dozens of others are filing for creditor protection in the biggest wave of bankruptcies since the telecom meltdown in the early 2000s.

Houston-based EOG raised the number of wells it plans to bring online this year to 350 from 270, and lifted by 50 to 250 the number of wells it would drill, while keeping its budget stable around $2.5 billion.

Since the start of the worst price crash in a generation in mid-2014, when oil was still above $100 a barrel, many shale producers have cut costs and lifted well productivity by 50 per cent or more. Wall Street has also demanded they focus more on capital efficiency rather than just raising output.

"The benefits of EOG’s premium drilling strategy are beginning to show in our operating performance," CEO Bill Thomas said in a statement. "We are committed to focusing capital on our premium assets."

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Financials ($)
Sales 2016 7 086 M
EBIT 2016 -958 M
Net income 2016 -990 M
Debt 2016 6 655 M
Yield 2016 0,74%
P/E ratio 2016 -
P/E ratio 2017 180,43
EV / Sales 2016 7,95x
EV / Sales 2017 6,23x
Capitalization 49 657 M
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Mean consensus OUTPERFORM
Number of Analysts 41
Average target price 96,1 $
Spread / Average Target 6,5%
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Managers
NameTitle
William R. Thomas Chairman & Chief Executive Officer
Gary L. Thomas President & Chief Operating Officer
Timothy K. Driggers Chief Financial Officer & Vice President
Sandeep Bhakhri Chief Information Officer & Vice President
Charles R. Crisp Lead Independent Director
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