EOG Resources May Delay Some Dorado Gas Wells in Texas Due to Low Prices

U.S. shale producer EOG Resources on Friday said it may delay some well completions in its Dorado natural gas play in Texas due to a low-price environment.

(Reuters) — U.S. shale producer EOG Resources on Friday said it may delay some well completions in its Dorado natural gas play in Texas due to a low-price environment.

Natural gas prices tumbled around 50% at the start of this year. On Friday Henry Hub futures were trading around $2.13 per million British thermal units (MMBtu) NGc1.

The company said that well costs should increase no more than 10% this year compared to 2022 as oilfield inflation has shown signs of leveling off.

Shares of EOG were up 4.3% to $116.11 in early trading.