**EOG Resources: A New Frontier in Ohio’s Utica Shale**
As the oil and gas industry continues to evolve, one company stands out for its promising endeavors in Ohio’s Utica Shale. EOG Resources, Inc., a leading Houston-based shale producer, is poised to significantly expand its activities in this burgeoning region.
Speaking to the Barclays CEO Energy-Power Conference, Chief Operating Officer Jeff Leitzell highlighted the impressive growth and performance of EOG’s Utica holdings. The company now operates on a substantial 445,000 net acres in the east of Ohio, marking a substantial increase from its past efforts. Initial drilling actions have focused on approximately 225,000 net acres that are producing volatile oil, with notable success. Leitzell emphasized that these early results have largely met and even surpassed projected expectations, indicating a strong foundation for future development.
“Everything so far has basically met type curve or exceeded type curve,” Leitzell stated. “On that 225,000 acres, we’re just about there. Everything kind of came in the way we want without any misses.” This level of performance underscores the potential for EOG’s Utica operations to become a cornerstone of the company’s portfolio.
Despite not specifying dollar details related to the company’s total 2024 capex budget of $6.2 billion, it is clear that Ohio spending will become an increasingly significant component of EOG’s investment strategy. Leitzell indicated that if current success continues, EOG plans to allocate more capital in 2025, aiming to add substantially to this year’s 20 net wells. This figure is more than triple the number of wells drilled in 2023, demonstrating the company’s confidence in the Utica play.
The strategic importance of the Utica Shale for EOG is evident in Leitzell’s comments. The region has the potential to become a major asset within the company’s portfolio, rivaling its core Delaware basin and Eagle Ford assets. This asc