EOG sees tighter global oil supply in 2023, Permian activity flat |
January 6 (Reuters) – USAshale producer EOG Resources Inc ( EOG.N ) said on Friday it expects its operations in the Permian Basin to be flat this year as supplies and equipment remain expensive and it focuses on shareholder returns.
Chief executive Ezra Jacob told a Goldman Sachs conference in Miami, Florida, that global oil supplies are likely to tighten this year, but he said demand is currently more “difficult to see.”
Oil prices began the year with the biggest two-day decline in three decades amid growing concerns about a global recession, naturally gas prices and in the first week of January USA and decreased by 18% due to warmer than normal temperatures in Europe. demand.
Jacob, natural for 2023 gas prices that it is constructive regarding 2025 and beyond as the demand for liquefied natural gas increases USAof gas said that the prices have risen. EOG is developing the vast Dorado natural gas field in south Texas, which is currently exposed to approximately 140 million cubic feet per day (mmcfd) of gas demand as LNG.
When Cheniere Energy ( LNG.A ) launches Phase 3 of its Corpus Christi LNG plant in Texas in 2025, EOG will have exposure to 720 mmcfd of natural gas, 420 mmcfd of which is linked to international prices.
Reporting by Liz Hampton in Denver Editing by Chris Reese and Marguerita Choy
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2023-01-08 03:44:35
Source – reuters
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