EOG keeps West Texas’ Delaware Basin central to oil plans

EOG Resources continues to make the Delaware Basin a core part of its West Texas operations as the company adjusts its capital plans toward oil-focused assets. According to the Midland Reporter-Telegram, Chairman and CEO Ezra Yacob said EOG is increasing oil production by 2,000 barrels per day and shifting investment toward plays with stronger oil exposure while keeping a long-term view of market cycles.

The company expects to complete 300 wells while running 13 rigs and three frac fleets, which Yacob described as generally consistent with recent activity levels. The Delaware Basin has been EOG’s busiest asset for the past 10 to 12 years, reinforcing the continued importance of Permian Basin production for U.S. energy supply and investor attention.

EOG also continues to expand its Midland presence, recently completing a third building that supports about 650 employees across land, geoscience, accounting, legal, and other functions. While Waha natural gas pricing remains a regional issue, Yacob said only about 5% of EOG’s natural gas production is exposed to Waha hub pricing, and additional pipeline capacity is expected to support broader basin conditions over time.

Source: Midland Reporter-Telegram

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