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Houston-based EOG Resources (EOG) released its first quarter results on August 7, 2020. It was a weak quarter and below-than-expectation results.
The weak quarterly results were due primarily to an extensive fall in commodity price realizations and a decrease in production volumes.
One positive element this quarter was the Trinidad/Tobago Discovery of net 500 MM cubic feet of natural gas with the potential to add two new production platforms.
The chart below is showing a 29% differential between EOG and OXY, mostly attributable to the ill-timed Anadarko acquisition.