Posted on 09/16/2014 8:43:21 AM PDT by bestintxas
EOG had a 40% increase in their crude oil production from 2012 to 2013. They have great results in the Eagle Ford and Bakken, but they are still investing in all three.
Otherwise they would be saying the same sorts of things that Pioneers CEO has been saying lately
I don't agree.
The Permian isn't like the Eagle Ford. It is many different plays in different layers. It doesn't have a simple trend from oil to wet gas to dry gas like the Eagle Ford. As far as I know, no other major production area is like that.
I just don’t think their lands are any good.
EOG had a 40% increase in their crude oil production from 2012 to 2013. They have great results in the Eagle Ford and Bakken, but they are still investing in all three.
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EOG’s big push this year is in the Eagle Ford. Not in the Permian. Their huge increases naturally are in the EagleFord Bakken...their last report also mention some significant increases off a low base in Wyoming. EOG is just not putting that much effort into the Permian right now.
There should be an easy way to show this graphically.
The Permian isn’t like the Eagle Ford. It is many different plays in different layers. It doesn’t have a simple trend from oil to wet gas to dry gas like the Eagle Ford. As far as I know, no other major production area is like that.
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agree. but in certain spots in the Permian the oil layer is 1000 feet deep for heavens sake. And that’s just the big layer. There a dozen other smaller layers. Likely Pioneer has leased lands over these layers and EOG has not.
Agreed. Their total oil production and oil production growth is far greater than Pioneer. I don't agree that they know less about US oil production and would say the same as Pioneer, if they were only better in the Permian.
Thickness of plays is not the same as volumes of oil. It is a good indicator of potential but permeability and porosity can be deciding factors. You can have two fields, one twice as thick but containing half the recoverable oil.
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