EOG Resources may delay some Dorado gas wells in Texas due to low prices

DENVER (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).

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.

(Reporting by Liz Hampton in Denver)