You've heard me rant before about EOG's "grip it and rip it" operational style, here is a cool example, below, of what I mean...
EOG and Anadarko in the Delaware Basin, above, several years back but still very relevant today. EOG has never met a choke it liked and essentially guts their wells for maximum cash flow. Anadarko, on the other hand, practiced some level of pressure preservation/reservoir management by restricting IPs.
As a result, Anadarko wells were better wells.
A quick review lays out a pretty simple comparison. EOG’s average wells produce significantly more in the first 6 months or so. At that point, Anadarko’s average wells jump ahead. It takes about 2 years for the cumulative to meet and then Anadarko widens the gap. At 60 months, the average Anadarko well has produced around 60,000 more barrels than the EOG well (377,000 bbls. and 316,000 bbls. respectively). WDB
Post bubble point, pressure depletion is just around the corner and lots of C+C is left behind, immobile and essentially stranded. EOG's operational model is pretty much the one everyone uses in tight oil; debt and dividends require it.
There are now over 63,000 HZ wells in the Permian Basin, for instance, that are leaving a lot of remaining hydrocarbons behind for whatever reason you wish to assign to it. Greed comes to mind.
Mike- Looking like China bought and inventoried a bunch of oil below cost courtesy of the Shalebros' picking the bourgeoisie's bones clean. Never had to pump a pound of sand or makeup a joint of pipe. If so, well played.