Image: EOG Office. Houston Chronicle.
Investment Thesis
Houston-based EOG Resources (EOG) released its first-quarter results on May 8, 2020. It is hard to criticize this company because I think management did the right thing and has shown an excellent job of producing oil and gas in the US shale so efficiently. In some other circumstances, I would have praised the management and congratulated the company's achievement. Another record production is ringing the bell, great.
However, it is not the way the oil world is working. You can't pump indefinitely and keep increasing oil