EOG Resources

EOG Resources, Inc. stands as one of America's premier independent energy companies, specializing in the exploration, development, production, and marketing of crude oil, natural gas liquids, and natural gas. Headquartered in Houston's Heritage Plaza, EOG operates across the most prolific hydrocarbon basins in the United States, including the Delaware Basin, Eagle Ford, and Utica Shale, while also maintaining international operations in Trinidad and Tobago. The company has built its reputation on a foundation of returns-driven capital discipline, technological leadership, and operational excellence that consistently delivers industry-leading financial performance.

With a decentralized organizational structure that empowers employees at every level, EOG has cultivated a culture of innovation and continuous improvement that sets it apart in the energy sector. The company's focus on premium drilling locations—wells that generate returns exceeding 60% after-tax at $40 per barrel oil prices—has enabled it to maintain one of the lowest cost structures in the industry while achieving superior returns on capital employed. This disciplined approach to capital allocation, combined with advanced subsurface technology and data analytics, has positioned EOG as a technology leader in unconventional oil and gas development.

EOG's origins trace back to 1985 as a subsidiary of Enron Corporation, originally named Enron Oil & Gas Company. The company's transformation into an independent powerhouse began in 1999 when it separated from Enron and rebranded as EOG Resources, a strategic move that proved prescient as Enron collapsed just two years later. Under the visionary leadership of Mark Papa, who served as CEO from 1999 to 2013, EOG pioneered the application of horizontal drilling and hydraulic fracturing techniques that unlocked vast unconventional oil and gas resources across North America. This technological innovation fundamentally reshaped the American energy landscape and established EOG as an industry pioneer.

Today, EOG Resources employs approximately 3,150 people and operates as a Fortune 500 company with a market capitalization exceeding $68 billion. The company generated $23.7 billion in revenue and $5.4 billion in free cash flow during 2024, demonstrating the resilience of its business model even in challenging commodity price environments. EOG's commitment to shareholder returns is evidenced by its consistent track record of dividend growth and share repurchases, having returned $5.3 billion to shareholders in 2024 alone. With proved reserves of 3.2 billion barrels of oil equivalent and a resource base that has expanded to over 12 billion barrels following the 2025 Encino acquisition, EOG is well-positioned to deliver sustainable value creation for decades to come.

The company's strategic vision emphasizes three core objectives: maintaining position as a high-return, low-cost producer; achieving continuous improvement in operational efficiency; and minimizing environmental impact through emissions reduction and responsible resource development. EOG's 2025 capital program of $6.0 to $6.4 billion supports 3% oil volume growth and 6% total volume growth, anchored by steady activity in the Delaware Basin and expanded operations in the Utica and Dorado plays. This balanced approach to growth, returns, and sustainability reflects EOG's commitment to playing a significant role in the long-term future of energy while creating enduring value for shareholders and stakeholders alike.