EOG hopes to drill more shale wells with fewer rigs
Aug 3 (Reuters) - EOG Resources said Thursday it plans to drill more wells in the Eagle Ford prospect in south Texas with fewer rigs.
The company said it is lowering the number of rigs in the Eagle Ford shale to 20 from 24, taking advantage of new efficiencies.
Well costs, however, are running higher than previous estimates at $6 million a well due to expensive fracking gel and larger well completion undertakings, EOG said during the company's second-quarter earnings call.
The Houston-based firm also said it will increase the volume of crude it ships from the Bakken shale in North Dakota to the St. James, Louisiana, terminal to 80,000 barrels per day by the end of the year.
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