EOG Resources
Natural gas liquids | |
Production output | 753 thousand barrels of oil equivalent (4,610,000 GJ) per day (2020) |
|---|---|
| Revenue | 25,702,000,000 United States dollar (2022)  |
| 9,966,000,000 United States dollar (2022) | |
| 7,759,000,000 United States dollar (2022) | |
| Total assets |  $35.804 billion (2020) |
| Total equity | $20.301 billion (2020) |
Number of employees | 2,900 (2020) |
| Website | www |
| Footnotes / references [1] | |
EOG Resources, Inc. is an American energy company engaged in
The company is ranked 186th on the Fortune 500[2] and 337th on the Forbes Global 2000.[3]
The company was named Enron Oil & Gas Company before its separation from Enron in 1999.
History
In 1998, Mark G. Papa was named chairman and chief executive officer.[4] In 1999, the company became independent from Enron and changed its name to EOG Resources, Inc.[5][6][7]
In 2000, the company swapped properties with
The company acquired properties in Canada from Husky Energy for $320 million in 2003.[11][12]
In 2006, the company signed a 225,648 square feet (20,963.4 m2) lease for office space in the
In 2008, the company acquired assets in the Chuan Zhong Block exploration area in the Sichuan Basin,
In May 2011, the company sold gas-producing properties in South Texas and New Mexico for $637 million.[16]
In December 2014, the company sold its assets in Canada.[17][18] Also in December 2014, founder Mark G. Papa resigned from the board of directors.[19]
In November 2015, the company spent $368 million to acquire additional acreage in the Delaware Basin.[20]
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. The acquisition increased the company'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.[21][22]
In 2017, the company formed a joint venture with The Carlyle Group to develop oil and gas assets in Ellis County, Oklahoma.[23]
In September 2018, the company sold its offshore assets in the United Kingdom.[24][25]
Current operations
As of December 31, 2020, the company had 3.219
In 2020, the company's production averaged 753 thousand barrels of oil equivalent (4,610,000 GJ) per day, of which 94% was in the United States, 5% was in Trinidad and Tobago, and 1% was in other areas.[1]
United States
As of December 31, 2020, of the company's total proved reserves in the United States, 53% was
Canada
The company owns approximately 47,000 net acres in the Horn River Formation.[1]
Trinidad and Tobago
The company holds several concession contracts for the supply of natural gas in Trinidad and Tobago. As of December 31, 2020, the company held approximately 115,000 net undeveloped acres in Trinidad and Tobago.[1]
China
In 2008, the company acquired assets in the Chuan Zhong Block exploration area in the Sichuan Basin,
Oman
The company is exploring for oil in Oman.[1]
References
- ^ a b c d e f g h "EOG Resources, Inc. 2020 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ^ "EOG Resources". Fortune.
- ^ "Forbes Global 2000". Forbes.
- ^ "EOG established as an independent entity". Alexander's Gas & Oil Connections. August 16, 1999.
- ^ "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.
- ^ De Rouffignac, Ann (August 22, 1999). "Enron Oil & Gas finalizes separation with Enron through stock deal". American City Business Journals.
- ^ "Occidental, EOG Resources Swap Oil and Gas Assets" (Press release). GlobeNewswire. January 3, 2000.
- ^ "EOG Resources 2000 Annual Report to Shareholders" (PDF).
- ^ "Hot Stocks: Netopia falls". CNN. November 1, 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 Resources to relocate, expand downtown office". American City Business Journals. March 14, 2006.
- ^ Dow Jones Newswires.
- ^ "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). PR Newswire. 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). PR Newswire. December 17, 2014.
- ^ "EOG Resources Reports Third Quarter 2015 Results; Increases Delaware Basin Net Resource Potential by 1.0 BnBoe" (Press release). PR Newswire. November 5, 2015.
- ^ "EOG Resources and Yates Agree to Combine in Transaction Valued at $2.5 Billion" (Press release). PR Newswire. September 6, 2016.
- ^ Witthaus, Jack (September 6, 2016). "EOG Resources Inc. to buy Yates Petroleum Corp". American City Business Journals.
- ^ "EOG, Carlyle Group create $400-million Oklahoma drilling combine". Oil & Gas Journal. May 23, 2017.
- ^ Druzin, Rye (September 5, 2018). "EOG Resources sells U.K. offshore oil and gas assets". Houston Chronicle.
- ^ Nasralla, Shadia (September 5, 2018). "Mercuria-backed Tailwind buys EOG's UK oil, gas assets". Reuters.
External links
- Business data for EOG Resources: