NEW YORK (TheStreet) -- Several analysts believe EOG Resources (EOG) , one of the biggest U.S. shale oil producers, could post the largest production growth in its peer group next year, even as shale production slows because of deteriorating crude prices.
In a recent report, Goldman Sachs said it has a "neutral coverage view" on most of the exploration and production stocks -- except for EOG Resources.
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Why? The Houston company said in a November presentation it would increase its oil production by 31% in the current year and would continue to deliver double-digit growth through 2017, despite low crude oil prices. EOG shares are actually up for the year to date -- at around $90, by nearly 8%.
Goldman analyst Brian Singer thinks EOG Resources could grow its U.S. oil production by more than 40,000 barrels of oil a day in the final quarter of 2015 from the corresponding period in 2014, more than other oil and gas producers Goldman covers including Pioneer Natural Resources (PXD) , Anadarko Petroleum (APC) and Continental Resources (CLR) .
Singer is not alone. Leo Mariani, analyst at RBC Capital Markets, wrote in a recent report that EOG Resources can continue growing its oil production at an annual rate of 15% to 20% even beyond 2015.
What does the company think? K Leonard, EOG Resources' spokeswoman, told TheStreet CEO Bill Thomas was not available to comment.
However, during EOG's third-quarter conference call last month, Thomas said if oil prices get to $80 a barrel the company will be able to post "double-digit oil growth through 2017 and beyond" while generating sufficient cash flows to fully fund its drilling programs at Texas's Eagle Ford, North Dakota's Bakken and Texas/New Mexico's Delaware Basin that underpin its future growth.