**EOG Resources Expands Ohio Utica Shale Operations: A Strategic Investment for Long-Term Growth**
In a recent investor gathering, EOG Resources Inc. chief operating officer Jeff Leitzell announced the company’s plans to significantly increase its spending in Ohio’s Utica shale operation in 2025. This move reflects the promising performance of EOG’s Utica holdings, which encompass an impressive 445,000 net acres in eastern Ohio.
EEGs early efforts have focused on approximately 225,000 net acres that are producing volatile oil. So far, the outcomes have been nothing short of impressive. “Everything so far has basically met type curve or exceeded type curve,” Leitzell noted. “On that 225,000 acres, we’re just about there. Everything kind of came in the way we want without any misses.” This indicates a high level of efficiency and effectiveness in their operations.
The success of EOG’s Utica shale play has raised hopes among investors and industry analysts. The company plans to further invest in this region, potentially tripling the number of wells drilled in Ohio in 2025 compared to 2023. This strategic expansion aligns with EOG’s broader strategy of incrementally amassing acreage for organic growth rather than engaging in large-scale mergers and acquisitions (M&As).
“EOG is seeing outstanding results both through delineation and with our spacing tests in all three areas,” Leitzell emphasized. “This has reinforced our confidence in the Utica play, positioning it as a foundational asset on a par with our core Delaware Basin and Eagle Ford operations.” The Utica shale has the potential to become a major contributor to EOG’s oil and gas production, offering a cost-competitive advantage akin to parts of the Permian Basin.
EOG’s approach to developing its Utica holdings is meticulous, involving careful evaluation of operational, contractual, and depletion rate factors. This organic growth model aims to combine financial acumen with strategic portfolio enhancement