EOG Slashes $2 Billion From 2020 Budget

摘要

EOG Resources is cutting spending this year by 31% and targeting flat annual crude production, making it the latest tight oil producer in a quickly growing procession of US independents planning to reduce activity amid global disruption. The revised budget is based on oil prices in the $30s for the rest of the year, bringing the new spending plan to a range of $4.3 billion-$4.7 billion and oil production to 446,000-466,000 barrels per day. Net cash from operating activities is expected to fund both capital expenditures and dividend payments.