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Tuesday, May 5, 2015

Snippet From Today's EOG Conference Call -- 1Q15

  • EOG Resources  plans to increase drilling activity as soon as oil prices stabilize at $65/bbl - probably in Q4 2015 - CEO William Thomas said on today's earnings conference call.
  • Thomas anticipates EOG would return to double-digit growth in 2016, and in this year's Q3 may begin finishing wells that it has left half-drilled, with a decision likely in July
  • "We don’t want to get in a hurry... We don’t want to jump-start completions" and then see the price fall, the CEO said.
  • Thomas joins Pioneer Natural Resources, whose CEO Scott Sheffield said last month he was preparing for a return to growth and may begin adding rigs as soon as June.
One word: amazing. 

Transcript here

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