BAKU, Azerbaijan, April 13. The US share oil producer EOG plans to extract up to 467 mbod of oil in the US this year, the company told Trend.
“Our U.S. oil production guidance range for 2022 is 455 mbod – 467 mbod,” said the company.
EOG notes that capital plan of $4.3 to $4.7 billion returns oil production to pre-pandemic levels, maintains flat well costs, lowers per-unit cash costs and funds investments to further improve the business. Cash from operations before working capital funds capital plan at $32 WTI.
“Looking to 2022, our disciplined capital plan reflects an oil market that is in position to rebalance during the year. It is focused on investments in high-return double premium wells along with exploration and infrastructure projects to further improve the business. Combined with our low cost structure and an improved commodity price environment, EOG is positioned to once again generate significant free cash flow. We remain firmly committed to our long-standing free cash flow and cash return priorities. EOG has never been better positioned to generate significant long-term shareholder value,” the company said.
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