EOG Resources (EOG) William R. Thomas on Q2 2016 Results Can grow production at 10% at $50 oil ” Due to the sustainable gains in well productivity and cost, we can grow oil production at a 10% compound annual growth … Continued
Apache (APA) John J. Christmann on Q1 2016 Results Targeting cash flow neutrality at $35 oil “Apache is targeting cash flow neutrality in 2016 under our current budget, which assumes flat $35 oil and $2.35 gas.” Well costs are down … Continued
Anadarko Petroleum (APC) R. A. Walker on Q1 2016 Things feel better than they did 90 days ago “I think it almost goes without saying that things feel better today than they did 90 days ago, both for our industry … Continued
EOG Resources (EOG) William R. Thomas Slammed on the brakes in 2015 “After four years of 40% compound annual oil growth, we slammed on the brakes and decided to defer production growth. It was an easy decision. Outspending cash flow … Continued
Getting balance sheet in order “So far in 2015, we have paid down $2.5 billion of debt. Currently our net debt is less than two times annualized 2015 adjusted EBITDA. We have extended our nearest long-term debt maturity to 2018, … Continued
Reduced per well costs at Wolfcamp by 4m per well and could cut another 2m “At our Wolfcamp oil play, this year alone we’ve reduced our per well costs by $4 million, to $7.5 million, with direct line of sight … Continued