What are EOG Resources' production growth targets for the coming years?

EOG Resources is reiterating its target of approximately 9% production growth for 2006 and aiming for approximately 10% growth in 2007. For the period 2008-2010, the company projects an average annual production growth of 9%, within a range of 7% to 11%.

What updates have been provided regarding EOG's activities in the Fort Worth Barnett Shale and Uinta Basin?

In the Fort Worth Barnett Shale, EOG has increased its acreage to over 600,000 acres and raised its potential reserve targets (probable and possible, not proved) based on positive production results and expanded testing. For the Uinta Basin in Utah, the company plans to pursue future drilling activity with 20-acre spacing, with the potential to reduce spacing to 10 acres, based on new data.

What should investors be aware of regarding the reserve information provided?

Investors should note that reserve estimates, particularly those not specifically designated as 'proved,' may include categories of reserves that the SEC's guidelines prohibit EOG from including in official filings. The company urges investors to consider the disclosures in its Form 10-K for the fiscal year ended December 31, 2005, for a more complete understanding of its reserve reporting.

EOG 8-K: Regulation FD — Nov 29, 2006

Q: What is EOG Resources' planned capital expenditure for 2007?

EOG Resources has set a preliminary capital expenditure budget of approximately $3.4 billion for 2007, not including any potential acquisitions.

Summary

EOG Resources, Inc. (EOG) has released an 8-K filing on November 28, 2006, providing an update on its production growth targets, capital expenditure budget, and key operational activities. The company is reiterating its commitment to strong production growth, targeting approximately 9% for 2006 and 10% for 2007, with a continued annual growth rate of 7-11% projected from 2008 to 2010. This indicates a strategic focus on expanding output and market presence over the medium term. Furthermore, EOG has outlined a preliminary capital expenditure budget of approximately $3.4 billion for 2007, excluding potential acquisitions. This significant investment underscores the company's confidence in its growth strategy and its pursuit of new opportunities. The filing also highlights increased activity and reserve potential in the Fort Worth Barnett Shale, with an expanded acreage position and updated potential reserve targets, as well as strategic drilling plans for the Uinta Basin, Utah, focusing on denser well spacing to maximize resource recovery.

Key Highlights

1Reiterated 2006 production growth target of approximately 9%.
2Targeting 10% production growth for 2007.
3Projecting 7-11% annual production growth (average 9%) from 2008-2010.
4Preliminary 2007 capital expenditure budget set at approximately $3.4 billion (excluding acquisitions).
5Increased potential reserve targets and acreage in the Fort Worth Barnett Shale play.
6Developing plans for denser well spacing (20-acre to 10-acre) in the Uinta Basin, Utah.

EOG RESOURCES INC 8-K Report, Regulation FD Disclosure (Nov 29, 2006)

Summary

Key Highlights

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