Saturday, May 7, 2016

EOG Can Post "Strong Returns" At $40 Oil -- EOG/CEO -- May 7, 2016

Reuters is reporting:
EOG Resources Inc has the ability to post strong returns with oil prices around $40 a barrel, and would post triple-digit returns should prices spike to $60, Chairman and Chief Executive Bill Thomas told investors on Friday.
Houston-based EOG, considered one of the most efficient U.S. drillers, has a $15-$20 per barrel cost advantage over the rest of the industry, which needs a "sustained $60-$65 oil price and 12 months of lead time" to deliver modest growth, Thomas said on a call to discuss first quarter results.
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And with that, I'm off the net for awhile. Lots of soccer today. Have a great weekend.

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