EOG Resources May Delay Some Dorado Gas Wells in Texas Due to Low Prices

(Reuters) — U.S. shale producer EOG Resources on Friday said it may delay some well completions in its Dorado natural gas play in Texas due to a low-price environment.

Natural gas prices tumbled around 50% at the start of this year. On Friday Henry Hub futures were trading around $2.13 per million British thermal units (MMBtu) NGc1.

The company said that well costs should increase no more than 10% this year compared to 2022 as oilfield inflation has shown signs of leveling off.

Shares of EOG were up 4.3% to $116.11 in early trading.

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