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15 Pages

EOG Resources oil and gas exploration summary

EOG Resources oil and gas exploration summary

Report summary

Since its spin-off from Enron Corporation in 1999, EOG's strategy has centred around being an early-mover and explorer in highly prospective shale plays and utilising its geological and geophysical expertise to quickly make development or exit decisions. It was one of the first unconventional-focused companies to shift its development focus away from gas to tight oil and is the leading producer and acreage holder in the core of the Eagle Ford Shale. Conventional exploration has played a minor role in the company’s growth story. EOG still maintains an upstream presence in Trinidad, the UK North Sea and East Irish Sea. Very little exploration activity is planned in these areas. EOG may chose to divest some of its international assets to free up capital for its North American development programmes.

What's included?

This report includes 2 file(s)

  • EOG Resources oil and gas exploration summary PDF - 1.03 MB 15 Pages, 6 Tables, 20 Figures
  • EOG Resources.xls XLS - 546.00 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 and exploration outlook
    • Evolution of exploration strategy
  • Investment and costs
  • Exploration
    • Well data
  • Reserves and resources
    • Scope of this report
  • Production
  • Valuation
    • Bakken value creation driven by early mover advantage and rail transport
    • Barnett Combo key to early switch to liquids-weighted plays
    • Commercialisation of the unconventional Permian assets
    • Smaller, niche plays will play a bigger role once oil prices recover
    • Natural gas properties hold long-term potential
    • Failed shales have not had a materially detrimental effect on value
    • Conventional exploration has not added value

In this report there are 26 tables or charts, including:

  • Executive summary
    • Basins drilled and major discoveries 2005-2014
    • Ten year performance summary
  • Strategy
    • Strategy: Table 1
    • 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 exploration & appraisal wells by basin and sector
    • Exploration wells drilled and spend per well
    • Exploration success rates
  • Reserves and resources
    • Top discoveries (2005 to 2014)
    • 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.
  • Valuation
    • Full-cycle economics
    • Full cycle value creation by year (conventional only)
    • Full cycle value creation by year, with uncons & DROs
    • Exploration returns by year (conventional only)
    • Exploration returns by year, with uncons & DROs
    • Value creation by reserve category
    • Value creation by water depth
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