EOG Resources’ production guidance for 4Q17
For 4Q17, EOG Resources (EOG) expects total production in the range of 628.1 Mboepd (thousand barrels of oil equivalent per day) to 662.2 Mboepd. On a YoY (year-over-year basis), the mid-point of EOG Resources’ 4Q17 production guidance is ~11% higher than its 4Q16 production of 583.5 Mboepd. Sequentially, its 4Q17 production guidance is ~8% higher than its 3Q17 production of 598.1 Mboepd.
EOG’s YoY increase in production can also be attributed to higher capital expenditure, which resulted in higher exploration and production activity levels. We’ll look at EOG’s capital expenditure in the next part.
EOG Resources’ 2017 production guidance
For 2017, EOG expects total production volume of 600.5 Mboepd–609.2 Mboepd. Its peer Pioneer Natural Resources (PXD) reported 2017 production of 272 Mboepd, which represents a growth of ~16% over 2016.