EOG’s Purchase of Encino Utica “Shocked” Houston Big Oil in 2025

Earlier this year, Houston-based EOG Resources acquired Encino Acquisition Partners for $5.6 billion, establishing the Utica Shale as a "third foundational play" alongside its Permian and Eagle Ford assets (see EOG Closes on $5.6B Purchase of Encino Assets in Ohio Utica). The deal, financed through $3.5 billion in new debt and $2.1 billion in cash without issuing stock, added roughly 675,000 net acres, expanding EOG's Utica footprint to nearly 1.1 million acres. This move significantly boosted local production to approximately 275,000 barrels of oil equivalent per day. Following the midyear closing, EOG raised its 2025 production guidance and increased its dividend by 5%, with early results exceeding profit estimates.

---

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