EOG Peters and Co Conference Presentation Notes

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This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. The quotes are generally pieces of information that I find interesting or helpful to understanding the company, industry or economy and are not meant to provide summaries of the full content of the call. Other posts in this series can be found by clicking here. Full transcripts can be found at Seeking Alpha.

“We had seen certainly a lot of the what we would call monster wells in the East side of Eagle Ford. But what changed this last quarter is we are seeing dramatic improvements in our western area, a lot people thought with all the monster wells going to the East, we drill up our inventory early and we wouldn’t have a lot of these big wells going forward. What we have seen though from our improvement on the completion technology that our western acreage is generating 100% rate of return also. So we are generating really good rate of return across all of our Eagle Ford acreage”

“EURs have jumped dramatically in the last year and that’s largely a result of our completion technology, and at the same time we’ve been able to lower our well cost”

” You have about 2.6 times of production from the Eagle Ford as you do the same number of wells in the Permian.”

“What’s going to drive the oil growth in the U.S. and North America is going to be the Bakken and Eagle Ford.”

“the Eagle Ford just recently passed the Bakken in total oil growth, and then if you look at the Bakken curve the other thing you will note there is the rate of growth is starting to slow in the Bakken, which is typical when these plays start maturing. So we are not expecting that oil growth in the U.S. will continue at these rapid rates. I think you will start to see the oil growth in U.S. start to slow as we go forward.”

“the Permian won’t have the same impact on a national scale that the Bakken and Eagle Ford have had.”