EOG Establishing Track Record for Cheaply Adding Premium Inventory
After taking a closer look at EOG's second-quarter earnings we are raising our fair value estimate to $105 per share. As we previously noted, the firm addressed one of our key concerns about the stock in the release, which is that the firm's runway of low-cost drilling opportunities is potentially shorter than the peer average. The firm now claims its inventory contains about 9,500 net premium locations, which marks an increase of over 1,600 since the previous quarter (effectively adding two yea...EOG Resources, together with its subsidiaries, explores for, develops, produces and markets crude oil, natural gas liquids and natural gas primarily in main producing basins in the United States, The Republic of Trinidad and Tobago, The People's Republic of China, Canada and, from time to time, select other international areas.
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