### EOG to Inject More Capital into Ohio’s Utica Shale Operation
Houston-based EOG Resources Inc. is poised to significantly increase its investment in Ohio’s Utica shale play, a move that positions the company for further growth in the region. This expansion plan, as outlined by chief operating officer Jeff Leitzell, underscores the optimism within the company regarding the operational and financial performance of its Utica holdings.
The Utica shale operation, which spans approximately 445,000 net acres in eastern Ohio, has been a focal point for EOG’s energy strategy. The company’s early efforts have concentrated on around 225,000 net acres that are producing volatile oil. Leitzell reported that EOG is witnessing outstanding results in both delineation and spacing tests across its Utica holdings.
“Everything so far has basically met type curve or exceeded type curve,” Leitzell observed, highlighting the success of their development strategies. The consistent performance on this significant acreage has solidified EOG’s confidence in the potential of the Utica play, with results that compare favorably to those seen in parts of the Permian basin.
Looking ahead to 2025, EOG plans to bolster its Utica-focused drilling program by increasing the number of wells significantly. This year, the company has already committed to drilling 20 net wells in the Utica, a number that more than triples the 2023 total. Leitzell indicated that if this momentum continues unimpeded, EOG’s Utica teams will receive additional funding to further expand their operations.
The strategic importance of the Utica play for EOG cannot be overstated. It has the potential to become a foundational asset for the company, akin to its core Delaware basin and Eagle Ford assets. Leitzell emphasized that this growth will be driven by an organic model, where acreage is incrementally developed rather than through large-scale mergers and acquisitions.
“This approach allows us to evaluate each potential target based on operating status,