EOG Resources, which produced more oil using less money and fewer rigs this year, is maintaining focus on high-return oil growth as it targets exploration opportunities and improves the quality of its assets.

Speaking on an earnings call May 3, executives of the Houston-based company told analysts the company is not shifting into a lower growth mode, and it does not plan to increase spending. Capex for first-quarter 2019 were below the target range, while oil volumes grew 20% to about 435,900 barrels per day, surpassing analysts’ expectations.

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