**EOG Resources: Vaulting Ahead in Ohio’s Utica Shale Play**
EOG Resources, Inc., a leading player in the shale oil market, is gearing up to further invest in its burgeoning Ohio Utica shale operation. According to Chief Operating Officer Jeff Leitzell, bolstered by outstanding results in delineation and spacing tests, EOG is poised to escalate its capital investments in the region in 2025.
During a recent presentation at the Barclays CEO Energy-Power Conference, Leitzell outlined the company’s positive trajectory in Ohio’s Utica shale. With a substantial 445,000 net acres under its belt, EOG has primarily focused on approximately 225,000 net acres that are already producing volatile oil.
“So far, everything has basically met the type curve or exceeded it,” Leitzell highlighted. “On that 225,000 acres, we’re just about there, and everything kind of came in the way we want without any misses.”
These remarkable achievements have led EOG to plan for increased funding in 2025, which will further support the already substantial 20 net wells being drilled this year. This number represents more than triple the net wells drilled in 2023, underscoring the significant growth momentum in the Utica shale play.
Leitzell’s optimistic remarks align with those of EOG’s leadership during the company’s second-quarter earnings call. CEO Ezra Yacob and other executives praised the consistent production from Utica delineation work and noted its cost-competitiveness with parts of the Permian basin.
**Strategic Expansion and Organic Growth Model**
EOG’s strategic approach in Ohio’s Utica shale extends beyond immediate production. The company is focused on incrementally acquiring and developing acreage through an organic growth model. This contrasts with the more common practice of large-scale mergers and acquisitions (M&A) in the oil and gas industry.
“When evaluating acreage, we consider whether it is operated, the various