Three Random Observations From EOG's 1Q14 Earnings Conference Call

Link here to SeekingAlpha. The original post on EOG's 1Q14 earnings call was here.

First:

We modeled our Eagle Ford production for the next 10 years. If we increase this year's 520 net wells by a modest amount and hold that number flat through 2024, our Eagle Ford oil volumes increase every year. The Eagle Ford will draw a free cash flow this year and every year through 2024.

Second:

In our model, we haven't assumed any improvements in well productivity or well cost. We've maintained the status quo. We’ve talked about the 6,000 net remaining locations on our acreage. 

Third, perhaps the most important comment in the call:

The Company is not so much focused on production growth. We're really focused on capital return, and that is what drives EOG. We're not interested in drilling low return wells to grow production. So we're going to very much stay focused and very much stay disciplined in our CapEx plans. So the plays have to have a very strong rate of return before we're going to spend money on them.