EOG Resources’ Chairman and Chief Executive Officer Bill Thomas told investors on 6 May that the company has the ability to post strong returns with oil prices at approximately USD 40/bbl and would post triple-digit returns should prices spike to USD 60/bbl. The Houston-based company is considered one of the most efficient US drillers. EOG is also successfully boosting recovery from existing wells with relatively low new investment, particularly in south Texas’ Eagle Ford Shale. These projects “will get more efficient as we move forward, and lower cost,” Thomas said.
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