Despite Capex Cuts, Some E&Ps See Strong Growth

摘要

US producers continue to announce steep cuts in capital spending in response to the slump in oil prices. But while some are saying this will result in relatively flat production this year, others are forecasting double-digit volume growth. EOG Resources said it expects to keep its production more or less flat this year as it slashes capital spending by 40%. It plans to deploy a fleet of 27 rigs in 2014 -- about half as many as last year.