EOG Resources, Inc. is one of the largest independent (non-integrated) crude oil and natural gas companies in the United States with proved reserves in the United States, Trinidad, the United Kingdom and China. EOG Resources is listed on the New York Stock Exchange (NYSE) and trades under the ticker symbol “EOG.”
EOG’s strategy is to generate the best rates of return by controlling operating and capital costs while maximizing oil and natural gas reserve recoveries. EOG strives 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
In order to find and develop
As of December 31, 2016, EOG’s total estimated net proved reserves were 2,147 million barrels of oil equivalent (MMBoe) comprised of 55 percent crude oil and condensate, 19 percent natural gas liquids (NGLs) and 26 percent natural gas. Approximately 97 percent of these reserves were located in the United States.
EOG’s total worldwide production in 2016 was 205 MMBoe.
- Focus on high rate-of-return, premium* drilling opportunities
- Leverage integrated proprietary technology throughout company
- Prioritize exploration and internally generated prospects
- Capture an early-mover advantage in key resource plays
- Maintain a strong balance sheet
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2016 Operational Highlights
- Identified 6,000 net premium* well locations
- Replaced 163 percent of 2016 production, at a very low finding cost of $5.22/Boe**, excluding revisions due to commodity price changes
- Increased Delaware Basin net resource estimate 155% to 6.0 billion barrels of oil equivalent*** (BnBoe)
- Added ~260,000 net acres in the core Delaware Basin and Powder River Basin through the Yates transaction
- Commercialized the industry’s first enhanced oil recovery in shale
- Achieved significant, sustainable reductions to capital and operating costs through efficiencies
* Premium wells generate a minimum 30 percent after tax rate of return at $40 oil and $2.50 natural gas.
** See related reconciliation information under Investors › Statistics and Reconciliations.
*** Estimated potential reserves, not proved reserves.
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2016 Production and Proved Reserve Data
|Production (MBoed)||Net Proved Reserves (MMBoe)|
|Other International (China, United Kingdom, Canada and Argentina)||8||11|
Focused on Increasing Oil Mix
- Largest onshore crude oil producer in the Lower 48 United States
- Largest crude oil producer in the Eagle Ford and in the state of Texas
- Holds a large, premier position in the Permian Delaware Basin in West Texas and New Mexico
- William R. Thomas, Chairman and Chief Executive Officer
- Gary L. Thomas, President and Chief Operating Officer
- Lloyd W. Helms, Jr., Executive Vice President, Exploration and Production
- David W. Trice, Executive Vice President, Exploration and Production
EOG Corporate Headquarters
1111 Bagby, Sky Lobby 2
Houston, TX 77002
P.O. Box 4362
Houston, TX 77210-4362
Toll Free: (877) 363-3647
Investor and Public Relations
- Cedric Burgher, Senior Vice President
- Kim Ehmer, Director IR/PR
- David Streit, Director IR
- John Wagner, Engineer IR
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