Trinidad and Tobago received six bids from BP, Shell and US shale producer EOG Resources on four blocks to explore for oil and gas as its 2023 shallow water auction closed on Monday. Trinidad plans to announce the winners in four months, Energy Minister Stuart Young said at the closing of the auction. All three companies bid for the Modified UC block, which is close to the Teak, Sammaan, Poui producing fields.
On May 21, 2024, Ezra Yacob, Chairman & CEO of EOG Resources Inc (NYSE:EOG), executed a sale of 4,729 shares of the company at a price of $129.31 per share.
Upstream players like EOG, COP and FANG are embracing the strategy of production expansion to benefit from potentially profitable crude prices.