EOG Resources Follows Suit and Cuts CAPEX by 40%

EOG_Resources_LogoOn February 18th, 2015, EOG Resources announced Q4 earnings for 2014.  The company also announced a CAPEX cut of 40% of $4.9B-$5.1B this year, and will delay a “significant” number of well completions as part of a strategy to increase its net present value while capitalizing on future commodity price increases.

EOG has a minimum of 460 locations which equals up to 12 years of drilling in the DJ basin. EOG reported that the bulk of its capital expenditures in 2015 will go to its top plays which are the Eagle Ford, Delaware Basin and Bakken. EOG did not specifically call out its DJ basin CAPEX for 2015.

To view the EOG Resources Investor Presentation for Q4 Earnings click here

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