I believe EOG Resources assets in the Eagle Ford Shale are now worth more than the entire market cap of the company. Also, any meaningful rebound in natural gas prices will be very good news for EOG.
http://www.thestreet.com/story/11595426 ... _ven=YAHOO
EOG
Re: EOG
Morning Natural Gas Market Report
Mon 25 Jun 2012 08:21:00 CT
Related Keywords: Energy Share on emailShare on printShare on facebookShare on twitterShare on linkedin August natural gas prices broke out to their best level since May 25th in overnight and early morning action. The market seemed to garner support from Tropical Storm Debby and the closure of nearly 25% of Gulf of Mexico oil and gas operations. The market might have also found support from the latest rig count data from Baker Hughes, which showed its gas-directed rig count falling to the lowest level since August 1999. The Commitments of Traders Futures and Options report as of June 19th showed non-commercial traders were net short 115,441 contracts, an increase of 8,199. Non-commercial and nonreportable traders combined held a net short position of 93,204 contracts, for an increase of 2,119 during the report week.
Mon 25 Jun 2012 08:21:00 CT
Related Keywords: Energy Share on emailShare on printShare on facebookShare on twitterShare on linkedin August natural gas prices broke out to their best level since May 25th in overnight and early morning action. The market seemed to garner support from Tropical Storm Debby and the closure of nearly 25% of Gulf of Mexico oil and gas operations. The market might have also found support from the latest rig count data from Baker Hughes, which showed its gas-directed rig count falling to the lowest level since August 1999. The Commitments of Traders Futures and Options report as of June 19th showed non-commercial traders were net short 115,441 contracts, an increase of 8,199. Non-commercial and nonreportable traders combined held a net short position of 93,204 contracts, for an increase of 2,119 during the report week.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: EOG
http://beta.fool.com/jewishitalian31/20 ... lnk0000001
In an analysts call, EOG CEO Mark Papa was also very positive on Eagle Ford, which is mainly a crude play. “The Eagle Ford continues to be our 800-pound gorilla in terms of crude oil growth, and we still believe our position is the largest domestic net oil discovery in 40 years and generates the highest direct (after tax rate of return) of any current large hydrocarbon play,” according Papa. In the same call, EOG reported that its rate of Bakkan production is actually increasing, despite an earlier prediction that it would fall off this year. EOG ships its Bakken production by rail to its St. James, Louisiana terminal. The first crude arrived in April 15th of this year. Rail shipments are expected to have a capacity of 70,000 barrels by the end of the year.
Papa also discussed the company’s plant in Wisconsin that produces sand for hydraulic fracturing—he said that having their own sand plant saves them $500,000 on the cost of a well. The company is developing another sand mine in Cook County, TX.
In an analysts call, EOG CEO Mark Papa was also very positive on Eagle Ford, which is mainly a crude play. “The Eagle Ford continues to be our 800-pound gorilla in terms of crude oil growth, and we still believe our position is the largest domestic net oil discovery in 40 years and generates the highest direct (after tax rate of return) of any current large hydrocarbon play,” according Papa. In the same call, EOG reported that its rate of Bakkan production is actually increasing, despite an earlier prediction that it would fall off this year. EOG ships its Bakken production by rail to its St. James, Louisiana terminal. The first crude arrived in April 15th of this year. Rail shipments are expected to have a capacity of 70,000 barrels by the end of the year.
Papa also discussed the company’s plant in Wisconsin that produces sand for hydraulic fracturing—he said that having their own sand plant saves them $500,000 on the cost of a well. The company is developing another sand mine in Cook County, TX.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group