|Traded as||NYSE: EOG
S&P 500 Component
|Founder||Mark G. Papa|
Houston, Texas, United States
|William R. Thomas, CEO & Chairman
Gary L. Thomas, COO & President
Timothy K. Driggers, CFO
Natural gas liquids
|560 thousand barrels of oil equivalent (3,400,000 GJ) per day|
|Revenue||$7.650 billion (2016)|
|-$1.225 billion (2016)|
|-$1.096 billion (2016)|
|Total assets||$29.459 billion (2016)|
|Total equity||$45.822 billion (2016)|
Number of employees
As of December 31, 2016, the company had 2.118 billion barrels of oil equivalent (1.296×1010 GJ) of estimated proved reserves, of which 52% was petroleum, 18% was natural gas liquids, and 30% was natural gas. Of these proved reserves, 97% were located in the United States and 3% were located in Trinidad.
In 2016, the company's production averaged 560 thousand barrels of oil equivalent (3,400,000 GJ) per day, of which 88% was in the United States (including 40% in the Eagle Ford shale and 15% in the Delaware Basin), 10% was in Trinidad, and 1% was in other areas.
Eagle Ford Shale
As of December 31, 2016, EOG was the largest petroleum producer in the Eagle Ford. In 2016, production by the company in the Eagle Ford averaged 220 thousand barrels of oil equivalent (1,300,000 GJ) per day.
In 2016, production by the company in the Delaware Basin averaged 85 thousand barrels of oil equivalent (520,000 GJ) per day. The company also owns properties in other areas of the Permian Basin, including the Leonard, Wolfcamp, and Second Bone Spring Sand shale plays.
In 1998, Mark G. Papa was named Chairman and Chief Executive Officer.
In February 2000, the company also swapped properties with Burlington Resources. EOG received properties in West Texas and the New Mexico, specifically in the Permian Basin, in exchange for properties in Texas and Oklahoma.
In 2006, the company signed a 225,648 square feet (20,963.4 m2) lease for office space in the Heritage Plaza building in Houston, Texas. In 2008, EOG acquired assets in the Chuan Zhong Block exploration area in the Sichuan Basin, Sichuan Province, China from ConocoPhillips.
In May 2011, the company sold gas-producing properties in South Texas and New Mexico for $637 million.
In September 2016, EOG Resources acquired Yates Petroleum for 26 million shares of common stock valued at $2.3 billion and $37 million in cash. The acquisition increased EOG's holdings by 176,000 net acres in the Delaware Basin, 200,000 net acres in the Powder River Basin, and 138,000 net acres on the Northwest Shelf in New Mexico.
- EOG Resources, Inc. 2016 Form 10-K Annual Report
- Fortune 500: EOG Resources
- "ConocoPhillips OKs Sale of China Gas Field to EOG". RigZone. Dow Jones Newswires. December 28, 2007.
- "Enron Oil & Gas Company Board Names Mark G. Papa, President/CEO, Adds Papa, John Duncan and Richard A. Causey to Board of Directors, and Declares Regular Quarterly Dividend on Common Stock; Forrest E. Hoglund to Remain as Chairman of Board" (Press release). PRNewswire. September 8, 1998.
- "Enron to Spin Off Oil, Gas Unit". The Oklahoman. July 21, 1999.
- Orwall, Bruce (July 21, 1999). "Enron Sells Most of Its Stake In EOG Back to Company". The Wall Street Journal.(subscription required)
- "Enron Oil & Gas finalizes separation with Enron through stock deal". American City Business Journals. August 22, 1999.
- "Occidental, EOG Resources Swap Oil and Gas Assets" (Press release). Globe Newswire. January 3, 2000.
- "EOG Resources, Inc. And Burlington Resources Exchange Oil And Gas Properties". Globe Newswire. February 10, 2000.
- "EOG Resources Added to S&P 500 Index" (Press release). PRNewswire. October 31, 2000.
- "EOG snaps up Canadian energy assets". American City Business Journals. August 21, 2003.
- "Husky Energy buying Marathon Canada". Oil & Gas Journal. September 20, 2003.
- "EOG Signs for 225,000 SF at Heritage Plaza". CoStar Group. April 4, 2006.
- "EOG sees Eagle Ford shale as major US oil discovery". Oil & Gas Journal. April 9, 2010.
- "EOG Resources sells $637 million in assets". Oil & Gas Journal. May 6, 2011.
- "EOG Resources Divests Majority of Canadian Assets" (Press release). PRNewswire. December 8, 2014.
- "EOG Resources sells bulk of Canadian assets". Oil & Gas Journal. December 9, 2014.
- "EOG Resources Announces Mark G. Papa Leaving Board of Directors" (Press release). PRNewswire. December 17, 2014.
- "EOG Resources Reports Third Quarter 2015 Results; Increases Delaware Basin Net Resource Potential by 1.0 BnBoe" (Press release). PRNewswire. November 5, 2015.
- "EOG Resources and Yates Agree to Combine in Transaction Valued at $2.5 Billion" (Press release). PRNewswire. September 6, 2016.
- "EOG Resources Inc. to buy Yates Petroleum Corp". American City Business Journals. September 6, 2016.
- "EOG, Carlyle Group create $400-million Oklahoma drilling combine". Oil & Gas Journal. May 23, 2017.