EOG Resources

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".

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.

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".

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.

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.