EOG Closes on $5.6B Purchase of Encino Assets in Ohio Utica

EOG Resources, one of the largest oil and gas drillers in the U.S. (with international operations in several other countries) announced at the end of May it had made a deal to buy Encino Energy and Encino's massive Ohio Utica Shale assets for $5.6 billion (see HUGE Utica News: EOG Resources Buys Encino Energy for $5.6 Billion). Last Friday, EOG issued its second quarter update. As part of the update, the company announced it had closed on the Encino acquisition on August 1st and is now working to integrate the two companies. The newly combined EOG/Encino plans to run five rigs and three completion crews in the company's Utica operation through the remainder of this year.

---

To view this content, log into your member account. (Not a member? Join Today!)