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EOG Resources

An American energy company engaged in hydrocarbon exploration.

Categories

Energy and Utilities  

#260

Rank

$75.31B

Marketcap

US United States

Country

EOG Resources
Leadership team

Mark Papa (Founder)

Ezra Y. Yacob (Board Member)

Industries

Energy and Utilities

Products/ Services
Petroleum, Natural gas, Natural gas liquids
Number of Employees
1,000 - 20,000
Headquarters
Heritage Plaza Houston, United States
Established
1985
Company Type
Public Limited Company
Company Registration
SEC CIK number: 0000821189
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
EOG
Social Media
Overview
Location
Summary

EOG Resources, Inc. is an American energy company engaged in hydrocarbon exploration. It is organised in Delaware and headquartered in the Heritage Plaza building in Houston, Texas.

The company is ranked 186th on the Fortune 500 and 337th on the Forbes Global 2000.

The company was named Enron Oil & Gas Company before its separation from Enron in 1999. The company is one of the largest independent oil and natural gas companies in the United States with proven reserves in the United States, Canada, Trinidad and Tobago, the United Kingdom, and China. EOG Resources, Inc. is listed on the New York Stock Exchange and is traded under the ticker symbol "EOG".

History

1998: In 1998, Mark G. Papa was named Chairman and Chief Executive Officer.

1999: In 1999, the company became independent from Enron and changed its name to EOG Resources, Inc.

2000: According to Forbes, it is considered one of the top 2000 largest public companies in the world. In 2000, the company swapped properties with Occidental Petroleum.

2003: The company acquired properties in Canada from Husky Energy for $320 million in 2003.

2006: But in late 2006 EOG, drilling in the Bakken, proved them wrong. In 2006, the company signed a 225,648 square feet (20,963.4 m) lease for office space in the Heritage Plaza building in Houston, Texas.

2007: At a strategy meeting in October 2007 Papa declared that the industry had found so much shale gas that "we had probably ruined the market for 20 years." So, he said, EOG would shift entirely toward oil.

2008: In 2008, the company acquired assets in the Chuan Zhong Block exploration area in the Sichuan Basin, Sichuan Province, China from ConocoPhillips.

2009: The first train to transport crude oil for EOG Resources departed Stanley, North Dakota on December 31, 2009.

2010: The first train to transport crude oil for EOG Resources arrives in Stroud, Oklahoma on January 3, 2010. *See reconciliation schedules to press release, dated February 9, 2010. The company announced major discoveries in 2010 in the Eagle Ford Group.

2011: In May 2011, the company sold gas-producing properties in South Texas and New Mexico for $637 million.

2014: Also in December 2014, founder Mark G. Papa resigned from the board of directors. In December 2014, the company sold its assets in Canada.

2015: See reconciliation schedules to press release, dated February 18, 2015. In November 2015, the company spent $368 million to acquire additional acreage in the Delaware Basin.

2016: In September 2016, the company acquired Yates Petroleum for 26 million shares of common stock valued at $2.3 billion and $37 million in cash. By year-end, EOG’s premium inventory had grown to 10,500 locations, which is more than three times the total since introducing the premium well standard in 2016.

2017: In 2017, the company formed a joint venture with The Carlyle Group to develop oil and gas assets in Ellis County, Oklahoma.

2018: In September 2018, the company sold its assets offshore the United Kingdom.

2021: 2021 was a record-setting year for EOG. The company earned record net income of $4.7 billion and generated a record $5.5 billion of free cash flow,1 which funded a record cash return of $2.7 billion to shareholders.

Mission

According to EOG, the company mission is: “to maintain the lowest possible operating cost structure that is consistent with prudent and safe operations. The company focuses on integrating technology such as 3D seismic, core analysis, and microseismic to develop proprietary petro-physical models".

Vision

According to EOG, the company vision is: "for the future is not focused solely on its ability to grow at lower oil prices".

The company has a clear focus on providing high-quality and reliable energy products and services to its customers while being a responsible corporate citizen. EOG Resources is committed to reducing its impact on the environment and to making a positive difference in the communities it serves. Through its operations, the company aims to provide value to its shareholders, employees, and customers, while being a responsible and sustainable energy provider.

Key Team

Timothy K. Driggers (EVP & Chief Financial Officer)

Ann D. Janssen (SVP & Chief Accounting Officer)

Donald F. Textor (Board Member)

Charles R. Crisp (Board Member)

Janet F. Clark (Board Member)

Lloyd W. Helms Jr (President & COO)

Michael P. Donaldson (Executive Vice President, General Counsel and Corporate Secretary)

James C. Day (Board Member)

Jeffrey R. Leitzell (EVP)

Recognition and Awards
Top Independent Exploration and Production Company: EOG Resources has been ranked as one of the top independent exploration and production companies by industry publications and organizations. World Oil Award for Environmental Stewardship: EOG Resources has received the World Oil Award for Environmental Stewardship, recognizing the company's efforts to reduce its impact on the environment. ENERGY STAR Partner of the Year: EOG Resources has been recognized as an ENERGY STAR Partner of the Year by the U.S. Environmental Protection Agency, recognizing the company's commitment to energy efficiency and sustainability. API Texas Excellence in Energy Development Award: EOG Resources has received the API Texas Excellence in Energy Development Award, recognizing the company's efforts to advance energy development in Texas. Texas Conservation Champion Award: EOG Resources has received the Texas Conservation Champion Award, recognizing the company's efforts to conserve wildlife and habitats in Texas. American Petroleum Institute's Domestic Oil and Natural Gas Exploration and Production Environmental Excellence Award: EOG Resources has received the American Petroleum Institute's Domestic Oil and Natural Gas Exploration and Production Environmental Excellence Award, recognizing the company's commitment to environmental excellence in its operations.
Products and Services

Oil and Natural Gas Exploration and Production: EOG Resources explores for and produces oil and natural gas from a variety of geological formations in the United States, Trinidad and Tobago, the United Kingdom, and China.

Crude Oil Marketing: EOG Resources markets its crude oil production to refineries, traders, and other customers.

Natural Gas Marketing: EOG Resources markets its natural gas production to electric utilities, industrial customers, and other users.

Oil and Gas Gathering and Processing: EOG Resources provides gathering and processing services for its oil and natural gas production.

Oil and Gas Transportation: EOG Resources provides transportation services for its oil and natural gas production through pipelines and other means.

Exploration and Production Technologies: EOG Resources uses advanced technologies and techniques to improve the efficiency and productivity of its exploration and production activities.

References
EOG Resources
Leadership team

Mark Papa (Founder)

Ezra Y. Yacob (Board Member)

Industries

Energy and Utilities

Products/ Services
Petroleum, Natural gas, Natural gas liquids
Number of Employees
1,000 - 20,000
Headquarters
Heritage Plaza Houston, United States
Established
1985
Company Type
Public Limited Company
Company Registration
SEC CIK number: 0000821189
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
EOG
Social Media