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EOG wells comprise largest share of 900 N.Dakota wells awaiting fracking

By Ernest Scheyder

WILLISTON, N.D., April 14 (Reuters) - Wells owned by oil producer EOG Resources Inc comprise the largest number of an estimated 900 North Dakota wells waiting to be fracked, state officials said on Tuesday.

The number of new wells that have been drilled but waiting to be fracked has risen in recent months amidst a more than 50 percent drop in crude prices and an expect $5.3 billion industry tax break in June.

While the estimate of unfracked wells had been published monthly, it wasn't clear until Tuesday which companies were delaying fracking. Oilfield service companies have aggressively sought the information, hoping to drum up new business with those delaying.

EOG is "able to drill a lot of wells and maintain production, while still bank a lot of wells for future price increases," Lynn Helms, head of the state's Department of Mineral Resources, said on a conference call with reporters.

An EOG representative was not immediately available to comment.



(Reporting by Ernest Scheyder; Editing by Chizu Nomiyama)