off-the-wire

UPDATE 1-EOG Resources may delay some Dorado gas wells in Texas due to low prices

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Adds details on well costs, share price) DENVER, May 5 (Reuters) - U.S. shale producer EOG Resources on Friday said it may delay some well completions in its Dorado natural gas play in Texas due to a low price environment. Natural gas prices tumbled around 50% at the start of this year. On Friday Henry Hub futures were trading around $2.13 per million British thermal units (mmBtu) .


The company said that well costs should increase no more than 10% this year compared to 2022 as oilfield inflation has shown signs of leveling off.


Shares of EOG were up 4.3% to $116.11 in early trading.

(Reporting by Liz Hampton in Denver)

Messaging: Reuters Messaging: liz.hampton.reuters@reuters.net))
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