EOG 3Q16 Earnings Call Notes

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EOG Resources’ (EOG) CEO William Thomas on Q3 2016 Results

Bill Thomas

Oil in the 40s not enough to sustain production growth

” Over the long-term we believe oil in the 40s will not sustain enough production to meet demand worldwide. While EOG can deliver strong oil growth within cash flow with $50 oil, we believe that US industry as a whole needs to sustain $60 oil prices and extended lead time to provide a moderate level of growth. Worldwide Base decline rates are slowly reducing supply and consensus view is the current large inventory overhang could return to normal levels by late 2017.”