EOG Resources Company History Timeline
In 1998, Mark G. Papa was named Chairman and Chief Executive Officer.
In 1999, the company became independent from Enron and changed its name to EOG Resources, Inc.
According to Forbes, it is considered one of the top 2000 largest public companies in the world.
In 2000, the company swapped properties with Occidental Petroleum.
The company acquired properties in Canada from Husky Energy for $320 million in 2003.
But in late 2006 EOG, drilling in the Bakken, proved them wrong.
In 2006, the company signed a 225,648 square feet (20,963.4 m) lease for office space in the Heritage Plaza building in Houston, Texas.
At a strategy meeting in October 2007 Papa declared that the industry had found so much shale gas that "we had probably ruined the market for 20 years." So, he said, EOG would shift entirely toward oil.
In 2008, the company acquired assets in the Chuan Zhong Block exploration area in the Sichuan Basin, Sichuan Province, China from ConocoPhillips.
The first train to transport crude oil for EOG Resources departed Stanley, North Dakota on December 31, 2009.
The first train to transport crude oil for EOG Resources arrives in Stroud, Oklahoma on January 3, 2010.
*See reconciliation schedules to press release, dated February 9, 2010.
The company announced major discoveries in 2010 in the Eagle Ford Group.
In May 2011, the company sold gas-producing properties in South Texas and New Mexico for $637 million.
Also in December 2014, founder Mark G. Papa resigned from the board of directors.
In December 2014, the company sold its assets in Canada.
*See reconciliation schedules to press release, dated February 18, 2015.
In November 2015, the company spent $368 million to acquire additional acreage in the Delaware Basin.
In September 2016, the company acquired Yates Petroleum for 26 million shares of common stock valued at $2.3 billion and $37 million in cash.
By year-end, EOG’s premium inventory had grown to 10,500 locations, which is more than three times the total since introducing the premium well standard in 2016.
In 2017, the company formed a joint venture with The Carlyle Group to develop oil and gas assets in Ellis County, Oklahoma.
In September 2018, the company sold its assets offshore the United Kingdom.
2021 was a record-setting year for EOG. The company earned record net income of $4.7 billion and generated a record $5.5 billion of free cash flow,1 which funded a record cash return of $2.7 billion to shareholders.
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| Company Name | Founded Date | Revenue | Employee Size | Job Openings |
|---|---|---|---|---|
| Apache | 1954 | $12.1B | 3,420 | 38 |
| Chesapeake Energy | 1989 | $11.7B | 1,300 | 19 |
| Devon Energy | 1971 | $19.2B | 1,400 | 20 |
| Energen | 1929 | $878.0M | 470 | - |
| Halliburton | 1919 | $20.3B | 55,000 | 804 |
| XTO Energy | 1986 | $4.6B | 3,335 | - |
| ConocoPhillips | 2002 | $81.1B | 10,400 | 119 |
| Denbury Resources | 1951 | $1.5B | 657 | 16 |
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