EOG Resources, Inc. Company News

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Permian Auction Doubles 2008 Record with near Billion-Dollar Sale
Friday, September 07, 2018 The price to access unexplored shale assets on the New Mexico side of the Permian Basin soared to $95,001 an acre in a federal government auction.

'New Player' Enters Louisiana Austin Chalk
Monday, August 13, 2018 Amelia Resources has sold 40,000 net acres of newly acquired leases in Louisiana Austin Chalk and Louisiana-Mississippi (LAMS) Stack plays to an 'undisclosed US-based buyer.'

EOG Sees Permian Hydraulic Fracturing Work Slowing in 2nd Half
Friday, August 03, 2018 Activity in the Permian Basin, which includes the Delaware, has outpaced pipeline takeaway capacity in recent months.

Oil Boom Bottleneck Costs Permian Investors $1B a Day
Thursday, June 07, 2018 More than $1B a day. That's how much value a Permian pipeline crunch wiped out from the explorers most focused on the booming shale region in two weeks.

'Netflix for Oil' Setting Stage for $1 Trillion Data Battle
Monday, March 19, 2018 The service companies that map underground pockets of oil, drill the wells and lift crude from miles below are generating vast new amounts of data they never before realized could be valuable.

Permian's Mammoth Cubes Herald Supersized Future for Shale
Thursday, February 22, 2018 In the scrublands of West Texas there's an oil-drilling operation like few that have come before.

Texas' Austin Chalk Booms While Shale Plays Remain Mostly Dormant
Thursday, December 07, 2017 New technology applications are breaking records in the Austin Chalk.

Buying Texas Oil at New Mexico Prices: Majors Go West for Shale
Tuesday, November 14, 2017 Oil producers discouraged by the rising cost of accessing the vast deposits of the Permian Basin are sneaking into a geological back door, through neighboring New Mexico.

US Drillers Add No Oil Rigs as Harvey Slows Production - Baker Hughes
Friday, September 01, 2017 The total oil rig count for the week ended Friday stayed at 759, General Electric Co's Baker Hughes energy services firm said.

Shale Drillers Show Few Signs of Slowing as Profits Expand
Wednesday, August 02, 2017 Four of the biggest US drillers said they're not backing away from lofty production targets for 2017.

EOG Resources Profit Disappoints, But Sticks By CAPEX
Tuesday, August 01, 2017 EOG Resources Inc posted a lower-than-expected quarterly profit.

Kemp: US Shale Producers Are Drilling Themselves into a Hole
Friday, June 30, 2017 Drilling and production are rising. Prices are declining.

Shale Drillers Are Outspending the World With $84 Billion Spree
Tuesday, May 09, 2017 North American drillers plan to lift their 2017 outlays by 32% to $84 billion, compared with just 3% for international projects, according to Barclays.

Relief Arrives For US Shale Firms As OPEC Folds In Price Battle
Thursday, September 29, 2016 It was a moment U.S. shale oil producers have been waiting on for more than two years: OPEC nations finally agreed to cut production in a move that lifted low prices ravaging their budgets.

EOG Inks $2.5B Deal In Shift To Low-Cost Permian Shale
Tuesday, September 06, 2016 EOG Resources says it would buy privately held Yates and some of its subsidiaries and other entities in a deal valued at $2.5 billion to boost its assets in the Permian and Powder River basins.

EOG Swings To 2Q Loss But Says To Ramp Up Well Fracking This Year
Thursday, August 04, 2016 EOG Resources swings to a second-quarter net loss.

Depleted Crews, Idled Rigs Lie In Shale Oil's Path To Revival
Thursday, July 14, 2016 Two years ago, Reg MacDonald's 20-day drilling classes were packed to capacity, with nearly 40 students eager to land lucrative jobs in the booming oil and gas industry. Now he is lucky if he gets half a dozen to enroll.

Oil Drillers Adding Hedges as Crude Closes In on $50 a Barrel
Monday, May 16, 2016 Oil producers are taking advantage of the rebound in crude markets to lock in protection against another slump.

CEO: EOG Can Post 'Strong Returns' at $40 Oil
Friday, May 06, 2016 EOG Resources has the ability to post strong returns with oil prices around $40 a barrel, and would post triple-digit returns should prices spike to $60, Chairman and Chief Executive Bill Thomas told investors on Friday.

Goldman Says Oil at $35 Is 'Goldilocks' Ideal for US Explorers
Thursday, April 07, 2016 Oil at $35 a barrel is neither too high nor too low but just right to make shares of US explorers worth buying, according to Goldman Sachs Group Inc.

It'll Take More Than An Oil Rally To Restart Shale Boom
Thursday, February 11, 2016 Explorers in US oil fields stung by the quick rise and fall in the market last year are expected to move cautiously when crude prices begin to climb again.

Report: With Oil Hedges Rolling Off, US Shale Producers Face Stiff Test
Monday, December 14, 2015 Cash-strapped U.S. shale oil producers are facing another sharp sell-off in a 18-month-old crude slump with reduced hedging protection, risking a severe hit to earnings if prices fail to recover.

RBN Energy: 'Even At Yesterday's Prices, It’s Not Over Yet'
Friday, December 11, 2015 Analysis of oil and gas drilling and production improvements in recent years demonstrate the industry can still make some money.

EOG Resources Profit Widely Beats Street On Cost Cuts
Thursday, November 05, 2015 EOG Resources posts a better-than-expected profit as cost cuts and efficiency gains helped offset falling crude prices.

EOG Resources CEO Expects Oil Prices To Rise In 2016
Tuesday, September 08, 2015 EOG Resources CEO Bill Thomas expects oil prices to rise next year, telling a group of analysts that he is "excited about 2016."

EOG Profit Beats Street As Cost Cuts Offset Drop In Oil Prices
Thursday, August 06, 2015 EOG Resources reports a better-than-expected adjusted quarterly profit as it successfully slashes well and transportation costs to offset plunging crude prices.

US Shale Oil Firms Say Refracking Not The Best Path In Downturn
Tuesday, May 05, 2015 Refracking is still too unpredictable to rely on as a way to slash costs and increase output during the oil price slump, top US shale oil executives say.

EOG Resources To Resume Fracking If Oil Hits $65/Barrel
Monday, May 04, 2015 EOG Resources posts a better-than-expected adjusted profit as hedges and cost cuts helped offset low oil prices.

US Shale Leader EOG Resources Confidence No Match For Cheap Oil
Thursday, February 19, 2015 One of the leaders of the U.S. shale revolution, EOG Resources, is humbled by plunging oil prices.

EOG Resources Quarterly Profit Jumps 7%
Tuesday, August 05, 2014 EOG Resources says its quarterly profit rose 7% from the year-ago period due to a jump in oil production in Texas and North Dakota.

EOG Production Up In 1Q; Company Adds Four New Plays for 2014
Friday, May 09, 2014 EOG Resources' US production in 1Q was up 45%, and the company added four new plays in 2014.

Explosion, Rig Fire in Eagle Ford Shale East of San Antonio
Thursday, August 29, 2013 A rig explosion and fire occurred Wednesday evening in South Texas, says rig operator EOG.

Study: Total Eagle Ford CAPEX to Reach $28 billion in 2013
Thursday, December 06, 2012 The Eagle Ford Shale continues to hold enormous value, especially for companies that own premium acreage and are well-positioned in the play according to a recent analysis by Wood Mackenzie.

EOG, Chesapeake Marcellus Operations Largely Unaffected by Sandy
Wednesday, October 31, 2012 Two exploration and production companies report that their operations in Pennsylvania's Marcellus shale were largely unaffected by Hurricane Sandy.

Papa Shifts EOG Focus to Stay Ahead of the Trend
Tuesday, January 24, 2012 EOG "basically made a $250M investment. If we were to sell our position today it would probably be worth between $12-$18B," said CEO Mark Papa in an interview.

EOG 2Q Earnings Climb on Production Increase
Friday, August 05, 2011 EOG Resources reported second quarter 2011 net income of $295.6 million. This compares to second quarter 2010 net income of $59.9 million.

EOG CEO: Boosts Asset Sale Target to $1.6B, from $1B
Friday, August 05, 2011 EOG Resources Chief Executive Mark Pappa said the O&G explorer is increasing the amount of cash it hopes to raise by selling assets this year in order to offset rising oilfield service costs.

EOG Resources Contracts Seafox Rig for East Irish Sea Work
Monday, June 20, 2011 EOG Resources has signed a contract with Seafox Contractors for the use of accommodation and multi-support jackup Seafox 1 at the Conwy field in the East Irish Sea.

Technip Clinches Installation Contract for Conwy Development
Thursday, March 10, 2011 Technip was awarded an installation contract by EOG Resources for the development of the Conwy field.

EOG Resources Boosts Production in 2010
Friday, February 18, 2011 "EOG has become a formidable onshore U.S. crude oil producer through early identification and extensive acreage capture in a number of premier horizontal resource plays," said Mark G. Papa, Chairman and Chief Executive Officer.

Apache, EOG Buy Pacific Trail Pipeline Interest
Monday, February 07, 2011 Kitimat LNG partners Apache Canada Ltd. and EOG Resources Canada Inc. today announced that they have agreed to purchase the 50 percent interest in the Pacific Trail Pipelines Limited Partnership (PTPLP) they do not own from Pacific Northern Gas Ltd.

EOG Resources, Newfield Terminate Marcellus Agreement
Thursday, December 23, 2010 EOG Resources and Newfield have mutually agreed to terminate the agreement regarding Marcellus Shale.

Newfield Doubles Marcellus Footprint With Acquisition
Monday, November 15, 2010 Newfield Exploration Company today announced the signing of a purchase and sale agreement with EOG Resources, Inc., for approximately 50,000 net acres in the Marcellus Shale.

EOG Resources to Sell Shale Acreage
Friday, August 06, 2010 EOG Resources plans to sell some of its natural gas assets to accelerate its transformation into an oil producer.

EOG Resources Spotlights 2Q 2010 Results
Friday, August 06, 2010 EOG Resources reported second quarter 2010 net income of $59.9 million, or $0.24 per share.

House Panel Probes Natural Gas Hydrofracking Process
Friday, February 19, 2010 The House Energy and Commerce Committee began an investigation into the potential impacts of a natural gas production process on the environment and human health.

EPA Official: State Regulators Doing Fine on Hydrofracking
Tuesday, February 16, 2010 State regulators are doing a good job overseeing a key natural gas production technique called hydrofracking and there's no evidence the process causes water contamination, a senior federal environment official said Monday.

EOG Resources Declares Quarterly Dividend
Tuesday, December 15, 2009 The Board of Directors of EOG Resources has declared a dividend of $0.145 per share on EOG's Common Stock, payable January 29, 2010 to stockholders of record as of January 15, 2010.

Drilling in All The Right Places
Monday, September 07, 2009 EOG's three-year effort to pump up its crude oil production -- inpart by using the same horizontal-drilling technology that has made it one of the largest independent gas producers in the U.S. -- looks expertly timed.

EOG Flow Tests Marcellus Shale Well at More Than 3MMcfd
Tuesday, May 19, 2009 A Marcellus Shale well operated by Seneca's joint-venture partner, EOG Resources, was flow tested at an average rate of over 3.0 million cubic feet per day for 7 days.