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16 Pages

EOG Resources oil and gas exploration summary

EOG Resources oil and gas exploration summary

Report summary

EOG's strategy is to be an early-mover and explorer in highly prospective shale plays, and utilising its geological expertise to quickly make development or exit calls. It was one of the first unconventional-focused companies to shift focus away from gas to tight oil, and is the leading producer in the core of the Eagle Ford. EOG has earned its reputation as a top-tier unconventional player by executing on a difficult, but proven, business model. It built its portfolio by acquiring nearly all assets at the grassroots-leasing stage, using geoscience to hone in on the most prospective areas, and improving returns by continuously improving development techniques. It supplements its operational expertise with an low cost structure which benefits from vertical integration and strategic partnerships with smaller service providers. This has allowed EOG to add over 6 billion boe of new resource from its US shale plays over the last decade, with further resources from Trinidad and the UK.

What's included?

This report includes 2 file(s)

  • EOG Resources oil and gas exploration summary PDF - 1.03 MB 16 Pages, 6 Tables, 18 Figures
  • EOG Resources.xls XLS - 584.50 KB


Affected by supply and demand, the economy of individual countries and technological breakthroughs, oil and gas exploration is an industry in constant motion. The high costs of finding and developing new oil and gas fields that can be commercially developed has created a challenging atmosphere, with explorers increasingly seeing low returns, low value and slow progress.

This Exploration Summary report quantifies the company's exploration volume and value performance over the past 10 years, and reviews its outlook for future success.

Businesses can use this report to get a detailed analysis of this company, what exploration areas they're involved in, what wells to watch and how well placed they are. It will help you understand company performance and shows how the best explorers have achieved their success.

Wood Mackenzie benchmarks exploration results for over 40 companies. Our analysts provide accurate information on the cost of exploration compared to the value of discoveries so that you can develop profitable strategies. We are the established global industry standard for oil and gas exploration performance.

  • Executive summary
  • Strategy
    • Upstream Strategy
    • Exploration outlook
    • Evolution of exploration strategy
  • Investment and costs
  • Exploration
    • Well data
  • Reserves and resources
    • Scope of this report
  • Production
  • Valuation
    • First mover position in the core of the Eagle Ford creates world class value
    • Natural gas properties hold long-term potential
    • Failed shales have not had a materially detrimental effect on value

In this report there are 24 tables or charts, including:

  • Executive summary
    • Basins drilled and all conventional & organic unconventional discoveries 2006-2015
    • Ten year performance summary
  • Strategy
    • SWOT grid
    • Net active exploration acreage by water depth
    • Net active exploration acreage by country
  • Investment and costs
    • Exploration & appraisal spend and reinvestment
    • Exploration & appraisal spend by water depth
    • Exploration & appraisal spend by basin maturity
    • Discovery costs by water depth
  • Exploration
    • Gross conventional exploration & appraisal wells by basin and sector
    • Exploration wells drilled and spend per well
    • Exploration success rates
  • Reserves and resources
    • Top discoveries (2006 to 2015)
    • Reserves and resources: Table 2
    • Volumes discovered by year
    • Volumes discovered by water depth
    • Volumes discovered by country
    • Volumes discovered by basin
  • Production
    • Production from new field discoveries and organic unconventionals, and as a proportion of all future production
  • Valuation
    • Full-cycle economics
    • Full cycle value creation by year, with uncons
    • Exploration returns by year, with uncons
    • Costs and development value creation by reserve category
    • Exploration returns by water depth
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