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 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 2012, EOG's total estimated net proved reserves was 1.8 billion barrels of oil equivalent, of which 320 million barrels was crude oil and condensate reserves, and 7.7 trillion cubic feet was natural gas reserves.

Geographic Reach

EOG Resources is developing major shale plays int he 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, the China Sichuan Basin, and the Neuquén Basin of Argentina.


In 2012 the US accounted for some 92% of the company's proved reserves. The US and Canada accounted for 86% of EOG's 2012 production. EOG is the largest oil producer in the lucrative Eagle Ford Shale play in South Texas, producing 106,000 barrels of oil equivalent per day that year.

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.

Financial Performance

EOG's revenues grew by 15% in 2012 due to a 16% increase in wellhead revenues. Other positive factors included net gains on the mark-to-market of financial commodity derivative contracts and higher gathering, processing and marketing revenues, including gathering fees associated with gathering third-party natural gas.

Net income in 2012 dropped 48% to $570.28 million due to an increase in operating expenses. Impairments expense increased due to increased impairments of Canadian properties. The company also reported higher marketing and depreciation, depletion, and amortization expenses.

With exception of a revenue slump in 2009, due to global recession and weakened demand for oil and gas activities, EOG reported an upward trend in revenues from 2008 to 2012.


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, including reservoir simulation models, improved drill bits, mud motors for horizontal drilling, and horizontal completion methods.

In order to better serve its growing operations in the Eagle Ford play, in 2011 the company opened a processed sand plant in Chippewa Falls, Wisconsin to ship sand by rail to South Texas. (Sand is a key component in fracking activities in shale plays).

EOG announced significant oil finds in Texas, North Dakota, and Colorado in 2011.

To raise cash to offset increased costs, in 2012 the company sold producing properties and acreage primarily in the Rocky Mountain area, the Upper Gulf Coast region and Canada for $1.3 billion. It also agreed to sell its 30% stake in the Kitimat LNG liquefied natural gas export facility in Canada to Chevron.

During 2011, EOG sold producing properties and acreage and certain midstream assets, primarily in the Rockies and Texas, and the sale of a portion of EOG's interest in Kitimat LNG Terminal and the proposed Pacific Trail Pipelines for about $1.4 billion.


Capital Research Global Investors owns 9% of EOG.

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1111 Bagby Sky Lobby 2
Houston, TX 77002
Phone: 1 (713) 651-7000
Fax: 1 (713) 6516773


  • Employer Type: Public
  • Stock Symbol: EOG,
  • Stock Exchange: , NYSE
  • Chairman and CEO: William Thomas
  • Chairman and CEO: William Thomas
  • COO: Gary Thomas

Major Office Locations

  • Houston, TX

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