About Eog Resources, Inc.

EOG Resources' geographic focus is determined by where it can locate primary energy resources -- natural gas, natural gas liquids, and oil. In recent years that focus has been on exploiting shale plays in the US. The independent oil and gas company is engaged in exploring for natural gas and crude oil and developing, producing, and marketing those resources. In 2014, EOG's total estimated net proved reserves was 2.5 billion barrels of oil equivalent, of which 1.1 billion barrels was crude oil and condensate reserves, and 5 trillion cubic feet was natural gas reserves.

Geographic Reach

EOG is developing major shale plays in the US -- the Eagle Ford Shale and Barnett Shale in Texas and the Bakken Formation in North Dakota. EOG also has operations in Canada, offshore Trinidad, the UK North Sea and East Irish Sea, and Sichuan Basin in China.

In 2014 the US accounted for some 97% of the company's proved reserves.


EOG is the largest oil producer in the lucrative Eagle Ford Shale play in South Texas, producing 202,700 barrels of oil equivalent per day in 2014.

That year it also drilled and participated in 62 net wells in the Permian Basin to develop its liquids-rich Leonard and Wolfcamp plays. The company has 80,000 net acres in the Leonard Shale, and 140,000 net acres in the Wolfcamp Shale, all within the Permian's Delaware Basin. Additionally, EOG has acreage in the Wolfcamp Shale within the Midland Basin.

Sales and Marketing

The company sell its North American wellhead crude oil and condensate production to  local markets and (by pipeline, rail, and  truck) to downstream markets, and its natural gas production to local markets or via pipeline to downstream markets.

EOG's major sales points include Cushing, Oklahoma, St. James, Louisiana, and other points along the Gulf Coast. In 2014, two purchasers each accounted for more than 10% of EOG's total wellhead crude oil and condensate, NGLs and natural gas revenues and gathering, processing and marketing revenues.

In 2014 and 2013, all natural gas from EOG's Trinidad operations was sold to the National Gas Company of Trinidad and Tobago and all natural gas from EOG's China operations was sold to PetroChina.

In 2014 EOG processed certain of its natural gas production to extract NGLs. Most of the wellhead natural gas volumes from Trinidad were sold under contracts that year. All wellhead natural gas volumes from the UK were sold on the spot market. The wellhead natural gas volumes from China were sold at regulated prices based on the purchaser's pipeline sales volumes to various local market segments.

Financial Performance

The company's revenues have grown steadily since 2010.

In 2014 EOG's revenues increased by 24% due to higher revenues from natural gas liquids, crude oil and condensate, and natural gas, and from a gain on the disposal of assets.

Natural Gas liquids revenues grew by 21% due to an increase in NGL deliveries, and higher wellhead crude oil and condensate deliveries. Both reflected increased volumes in the Eagle Ford and the Permian Basin.

In 2014 EOG also recognized net gains on the mark-to-market of financial commodity derivative contracts of $834 million, which included net cash received from settlements of crude oil and natural gas financial derivative contracts of $34 million.    

The company's net income increased by 33% in 2014 due to an increase in revenues and operating income.

In 2014 EOG's net cash provided by operating activities rose by 18% due to increased net income, and a change in inventories and accounts payable.


EOG's strategy is to focus on organic growth of its North American shale plays and making complementary acquisitions of properties in North America and internationally. The company puts an emphasis on developing advanced technology associated with maximizing production from shale plays (especially in the Eagle Ford and Permian Basin), including reservoir simulation models, improved drill bits, mud motors for horizontal drilling, and horizontal completion methods.

EOG implements its strategy by emphasizing the drilling of internally generated prospects in order to find and develop low-cost reserves. It also looks to maintain the lowest possible operating cost structure that is consistent with prudent and safe operations.

In 2014 EOG expanded its inventory of crude oil plays with successful drilling results in the Second Bone Spring Sand, which underlies its extensive Leonard Shale acreage position in Lea and Eddy counties, New Mexico.

To raise cash for general purpose use, in 2014 EOG sold all of its assets in Manitoba and the majority of its assets in Alberta for $410 million.

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Eog Resources, Inc.

1111 Bagby St Lbby 2
Houston, TX 77002-2589
Phone: 1 (713) 651-7000
Fax: 1 (713) 651-6773


  • Employer Type: Public
  • Stock Symbol: EOG
  • Stock Exchange: NYSE
  • Chairman and CEO: William R. Thomas
  • Chairman and CEO: William R. Thomas
  • President and COO: Gary L. Thomas

Major Office Locations

  • Houston, TX

Other Locations

  • Denver, CO
  • Stanley, ND
  • Jal, NM
  • Elk City, OK
  • Oklahoma City, OK
  • Canonsburg, PA
  • Indiana, PA
  • Alvarado, TX
  • Barnhart, TX
  • Bowie, TX
  • Corpus Christi, TX
  • Fort Worth, TX
  • Godley, TX
  • Jacksboro, TX
  • Midland, TX
  • Nacogdoches, TX
  • Ozona, TX
  • San Antonio, TX
  • Weatherford, TX
  • Whitehouse, TX
  • Zapata, TX
  • Vernal, UT
  • Big Piney, WY
  • Bassano, Canada
  • Drayton Valley, Canada
  • Drumheller, Canada
  • Fox Valley, Canada
  • Gleichen, Canada
  • Goodsoil, Canada
  • Grande Prairie, Canada
  • Maple Creek, Canada
  • Strathmore, Canada
  • Trochu, Canada
  • Waskada, Canada
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