U.S. shale energy company EOG Resources set spending guidance for 2018 that overshadows its peers. File photo by Gary C. Caskey/UPI. Feb. 28 (UPI) — U.S. shale player EOG Resources targeted spending for the year at 45 percent higher than 2017, though its production growth forecast was nearly the same. EOG allocates its capital across the U.S. shale sector, from the Bakken reserve in North Dakota to the Eagle Ford in Texas. Spending for 2018 should be in a range between $5.4 billon and $5.8 billion, about 45 percent higher than guidance from 2017. The company one year ago outlined a spending range between $3.7 billion to $4.1 billion, which it said would increase total crude oil output by 18 percent. Total spending this year could stimulate production by about 20 percent. Capital expenditures for 2017 targeted 480 net wells, an 8 percent increase from 2016. Spending this year […]

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