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CM - EOG breaking even at lower price points, spending less on F&D - June 2019
EOG Resources, Inc. told investors its breakevens would trend downward while adding more wells at lower finding and developing costs. Its breakevens have fallen from more than $80/bbl a few years ago to $55/bbl last year to $50 this year, EVP Ken Boedeker said at a June 18 industry conference. During the 2015-2016 downturn, EOG turned to a premium drilling strategy with a 30%-plus after-tax return target assuming a flat oil price of $40/bbl and gas at $2.50/Mcf. EOG said......
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