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EOG Resources is an oil and gas company that finds, drills, and sells crude oil, natural gas, and natural gas liquids.
EOG Resources is an American oil and gas company. It does not own gas stations or refineries. Instead, it finds underground rock formations that hold oil and natural gas, drills wells into them, and sells what comes out to other companies. Its customers are mostly refiners, pipeline operators, and energy traders who buy raw crude oil and natural gas. Think of it as a farm that grows oil instead of corn, selling the crop to whoever needs it.
The company's money comes almost entirely from selling three things: crude oil, natural gas liquids, and natural gas. Crude oil is the biggest and most valuable piece, usually making up the majority of revenue. Natural gas liquids, like propane and butane, are a smaller but useful slice. Natural gas itself is the smallest in dollar terms, though EOG produces a lot of it. The company operates mainly in the United States, with major positions in the Permian Basin in Texas and New Mexico, the Eagle Ford in South Texas, and the Bakken in North Dakota. It also has some operations in Trinidad. EOG is known for being one of the most efficient drillers in the business, using advanced techniques to get more oil out of each well at lower cost.
EOG started in 1999 as a spin-off from Enron, which is a strange origin story given Enron's later collapse. But EOG survived and thrived, becoming a top independent oil producer. The company generates a lot of free cash flow when oil prices are decent. It uses that cash to pay dividends, buy back its own stock, and drill more wells. It also keeps debt low compared to many peers. Recent years have seen EOG focus on returning more cash to shareholders and improving its drilling efficiency even further. The business rises and falls with energy prices, so it is cyclical, but EOG's low-cost position helps it weather downturns better than many rivals.
Saved answer · last researched 11 Oct 2026