EOG has upside to my valuation of $110/share. This "Core Holding" has very little production hedged, so it has a lot of exposure to rising oil & gas prices. It is also getting outstanding well results. Comments below from Raymond James on 12/27/2016.
> EOG announced record wells in the Delaware Basin with an average IP of 3,400 Boe/d. While the company did not upgrade the standard area type curve to account for such a production profile, we believe the company could make such a move in the future.
> With the company’s acquisition of Yates Petroleum, EOG now possesses 150,000 acres in the Northwest Shelf area (New Mexico). The company hopes to begin testing the acreage in 2017.
> North Dakota: The company drilled its first successful second bench test into the Three Forks, producing at an IP rate of 3,150 BOPD.
EOG Resources (EOG)
EOG Resources (EOG)
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: EOG Resources (EOG)
Argus Research announced 12/27 that they are raising their price target on EOG from $105 a share to $119.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group