About EOG Resources

EOG Resources, Inc., together with its subsidiaries (EOG), explores for, develops, produces, and markets crude oil, natural gas liquids (NGLs) and natural gas primarily in major producing basins in the United States of America (United States or U.S.), the Republic of Trinidad and Tobago (Trinidad), and select other international areas. Exploration and Production United States Operations EOG's operations are located in most of the productive basins in the United States with a focus on crude oil and, to a lesser extent, natural gas plays. The Delaware Basin consists of approximately 4,800 feet of oil-rich stacked pay potential offering EOG multiple co-development opportunities throughout its 395,000 net acre position. EOG continued to focus on co-development of multiple Wolfcamp targets to maximize the value of the acreage. In 2023, the Delaware Basin Wolfcamp play will continue to be a primary area of focus. The Bone Spring play continues to be an integral part of EOG's Delaware Basin plans and portfolio. The South Texas area includes the company’s Eagle Ford play and its Dorado gas play. EOG holds approximately 537,000 total net acres in the Eagle Ford play and approximately 160,000 net acres in the Dorado gas play. In the Dorado gas play, EOG has continued to delineate the Eagle Ford and Austin Chalk formations with excellent results. Operations Outside the United States EOG has operations offshore Trinidad and is making preparations to drill offshore Australia, as well as evaluating additional exploration, development and exploitation opportunities in these and other select international areas. In addition, EOG is in the process of exiting Block 36 and Block 49 in the Sultanate of Oman (Oman) and is executing an abandonment and reclamation program in Canada. Trinidad. EOG, through its subsidiaries, including EOG Resources Trinidad Limited, holds interests in the exploration and production licenses covering the South East Coast Consortium (SECC) Block, Pelican and Banyan Fields, Sercan Area and each of their related platforms and facilities and the Ska, Mento, Reggae and deep Teak, Saaman and Poui Areas, all of which are offshore Trinidad; and a production sharing contract with the Government of Trinidad and Tobago for the Modified U(a) and 4(a) Blocks. EOG relinquished its interest in the Modified U(b) Block in the fourth quarter of 2022. In March 2021, EOG signed a farmout agreement with Heritage Petroleum Company Limited (Heritage), which allows EOG to earn a 65% working interest in a portion of the contract area (EOG Area) governed by the Trinidad Northern Area License. The EOG Area is located offshore the southwest coast of Trinidad. In 2022, EOG's net production in Trinidad averaged approximately 180 MMcfd of natural gas and approximately 0.6 MBbld of crude oil and condensate. Australia: In April 2021, a subsidiary of EOG entered into a purchase and sale agreement to acquire a 100% interest in the WA-488-P Block, located offshore Western Australia. In 2022, EOG continued preparing for the drilling of an exploration well, the timing of which will depend on obtaining regulatory approvals and subsequent equipment availability. Oman: EOG, through its subsidiaries, holds interests in Exploration and Production Sharing Agreements in Block 36 and Block 49 (collectively, Blocks) located in Oman. In 2021, EOG's partner finished completing one net exploratory well in Block 49 and EOG drilled two exploratory wells in Block 36. Canada: In March 2020, EOG began the process of exiting its Canada operations in the Horn River area in Northeast British Columbia. Marketing In 2022, EOG continued its diversified approach to marketing its wellhead crude oil and condensate production. The majority of EOG's United States wellhead crude oil and condensate production was transported by pipeline to downstream markets with the remainder sold into local markets. Major U.S. sales areas accessed by EOG were at various locations along the U.S. Gulf Coast, including Houston and Corpus Christi, Texas; Cushing, Oklahoma; the Permian Basin and the Midwest. In 2022, EOG also sold crude oil at the Port of Corpus Christi for export to foreign destinations. As of December 31, 2022, EOG was committed to delivered to multiple parties fixed quantities of crude oil of 7 million barrels (MMBbls) in 2023, 7 MMBbls in 2024 and 1 MMBbls in 2025. In 2022, EOG processed certain of its United States wellhead natural gas production, either at EOG-owned facilities or at third-party facilities, extracting NGLs. In 2022, consistent with its diversified marketing strategy, the majority of EOG's United States wellhead natural gas production was transported by pipeline to various locations, including Katy, Texas; East Texas; the Agua Dulce Hub in South Texas; the Cheyenne Hub in Weld County, Colorado; Southern California; and Chicago, Illinois. Additionally, EOG sells natural gas to a liquefaction facility near Corpus Christi, Texas, and receives pricing based on the Platts Japan Korea Marker. In certain instances, EOG purchases and sells third-party crude oil and natural gas in order to balance firm capacity at third-party facilities with production in certain areas and to utilize excess capacity at EOG-owned facilities. Strategy The company focuses on innovation and cost-effective utilization of advanced technology associated with three-dimensional seismic and microseismic data, the development of reservoir simulation models, and the use of improved drilling equipment and completion technologies for horizontal drilling and formation evaluation. Regulation A portion of the company’s oil and gas leases in New Mexico, North Dakota, Utah, Wyoming and the Gulf of Mexico, as well as in other areas, are granted by the federal government and administered by the Bureau of Land Management (BLM) and/or the Bureau of Indian Affairs (BIA), or in the case of offshore leases (which, for the company, are de minimis), by the Bureau of Ocean Energy Management (BOEM) and the Bureau of Safety and Environmental Enforcement (BSEE), all federal agencies. In addition, the U.S. Department of the Interior (via various of its agencies, including the BLM, the BIA, and the Office of Natural Resources Revenue) has certain authority over the company’s calculation and payment of royalties, bonuses, fines, penalties, assessments and other revenues related to its federal and tribal oil and gas leases. All other sales of natural gas by the company, such as those of natural gas purchased from third parties, remain jurisdictional sales subject to a blanket sales certificate under the Natural Gas Act of 1938, as amended, which has flexible terms and conditions. The company is subject to the U.S. Environmental Protection Agency's (U.S. EPA) rule requiring annual reporting of greenhouse gas emissions; and is also subject to federal, state and local laws and regulations regarding hydraulic fracturing and other aspects of the company’s operations. History EOG Resources, Inc., a Delaware corporation, was founded in 1985. The company was incorporated in 1985.

Country
Industry:
Crude petroleum and natural gas
Founded:
1985
IPO Date:
10/04/1989
ISIN Number:
I_US26875P1012
Address:
1111 Bagby Street, Sky Lobby 2, Houston, Texas, 77002, United States
Phone Number
(713) 651-7000

Key Executives

CEO:
Yacob, Ezra
CFO
Janssen, Ann
COO:
Leitzell, Jeffrey