EOG Resources COO Lloyd Helms Expects Oil Markets To Continue To Tighten Going Forward, Oil Supply To Be Limited; Says Permian Basin Is "Not An Area That We Want To Necessarily Grow Activity"; Is Not Considering A Major Role In Mergers And Acquisitions
Portfolio Pulse from Happy Mohamed
EOG Resources COO Lloyd Helms expects oil markets to continue tightening, with limited oil supply. He stated that the Permian Basin is not an area they want to grow activity in and EOG is not considering a major role in mergers and acquisitions.
June 21, 2023 | 4:14 pm
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NEUTRAL IMPACT
EOG Resources COO anticipates tightening oil markets and limited supply, with no plans to expand in the Permian Basin or participate in major M&A.
EOG Resources COO's statement indicates that the company is not planning to expand its operations in the Permian Basin or engage in major M&A activities. This may not have a direct short-term impact on the stock price, but it provides insight into the company's strategic direction. The tightening oil market and limited supply could potentially benefit EOG in the long run, but the short-term impact is uncertain.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100