### EOG Resources Expands Ohio Utica Operations with Promising Results
EOG Resources Inc., a significant player in the oil and gas industry, is poised to significantly enhance its operations within the Ohio Utica shale play. Recent statements from the company’s top executives indicate a strong commitment to this region, highlighting its potential as a foundational asset in the company’s production portfolio.
Speaking at the Barclays CEO Energy-Power Conference on September 3, Chief Operating Officer Jeff Leitzell emphasized the outstanding performance of EOG’s Utica holdings. The company is currently managing 445,000 net acres in the eastern part of Ohio, with an early focus on approximately 225,000 net acres that are producing volatile oil. Leitzell noted that the results have been impressive, with the company’s early work consistently meeting or exceeding the type curve. This keen focus on operational efficiency is a key factor driving EOG’s continued investment in the Ohio Utica shale.
“EEO’s Utica teams are seeing outstanding results through delineation and spacing tests in all three areas of our holdings,” Leitzell stated. “Everything so far has basically met type curve or exceeded type curve. We’re just about there on that 225,000 acres, with no significant misses.”
The investment strategy in Ohio is not only financially accretive but also aims to increase the overall value of EOG’s portfolio. Leitzell emphasized the company’s preference for organic growth over large-scale mergers and acquisitions. “We’re looking at whether the acreage is operated, the contracts that come with it, and the depletion rates at fields in question,” he said. “We see more potential value in our exploration opportunities and incremental acreage development.”
The expansion of operations in Ohio is set to continue with substantial capital allocations in 2025. EOG plans to increase its development efforts, adding to the 20 net wells drilled in the current year, a figure more than triple its 2023 total. Although specific financial