EOG Resources reported successful results from its enhanced oil recovery project in the Eagle Ford, exceeding its US oil production forecast for the first quarter of 2016. It also announced an established Austin Chalk play overlaying its South Texas Eagle Ford acreage. EOG increased its 2016 US oil production forecast by 2% while reducing expected capital expenditures by 47% and lowering operating and general and administrative expenses. It achieved significant well cost reductions through efficiency improvements and pricing.
An updated copy of a PowerPoint presentation used by Eclipse to summarize and convey important information about the company's shale drilling operations in the Marcellus/Utica region.
An updated copy of a PowerPoint presentation used by Eclipse to summarize and convey important information about the company's shale drilling operations in the Marcellus/Utica region.
NZEC is an oil and natural gas company engaged in the production, development and exploration of petroleum and natural gas assets in New Zealand. NZEC’s property portfolio collectively covers approximately 1.91 million acres of conventional and unconventional prospects in the Taranaki Basin and East Coast Basin of New Zealand’s North Island. The Company’s management team has extensive experience exploring and developing oil and natural gas fields in New Zealand and Canada, and takes a multi-disciplinary approach to value creation with a track record of successful discoveries. NZEC plans to add shareholder value by executing a technically disciplined exploration and development program focused on the onshore and offshore oil and natural gas resources in the politically and fiscally stable country of New Zealand. NZEC is listed on the TSX Venture Exchange under the symbol NZ and on the OTCQX International under the symbol NZERF. More information is available at www.newzealandenergy.com or by emailing info@newzealandenergy.com.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
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The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
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Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
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What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
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➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
1. NYSE Stock Symbol: EOG
Common Dividend: $0.67
Basic Shares Outstanding: 550 Million
Internet Address:
http://www.eogresources.com
Investor Relations Contacts
Cedric W. Burgher, SVP Investor and Public Relations
(713) 571-4658, cburgher@eogresources.com
David J. Streit, Director IR
(713) 571-4902, dstreit@eogresources.com
Kimberly M. Ehmer, Manager IR
(713) 571-4676, kehmer@eogresources.com
1Q 2016
2. Copyright; Assumption of Risk: Copyright 2016. This presentation and the contents of this presentation have been copyrighted by EOG Resources, Inc. (EOG). All rights reserved. Copying of the presentation is
forbidden without the prior written consent of EOG. Information in this presentation is provided “as is” without warranty of any kind, either express or implied, including but not limited to the implied warranties of
merchantability, fitness for a particular purpose and the timeliness of the information. You assume all risk in using the information. In no event shall EOG or its representatives be liable for any special, indirect or
consequential damages resulting from the use of the information.
Cautionary Notice Regarding Forward-Looking Statements: This presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, including, among others, statements and projections regarding EOG's future financial position, operations,
performance, business strategy, returns, budgets, reserves, levels of production and costs, statements regarding future commodity prices and statements regarding the plans and objectives of EOG's management for
future operations, are forward-looking statements. EOG typically uses words such as "expect," "anticipate," "estimate," "project," "strategy," "intend," "plan," "target," "goal," "may," "will," "should" and "believe" or the
negative of those terms or other variations or comparable terminology to identify its forward-looking statements. In particular, statements, express or implied, concerning EOG's future operating results and returns or
EOG's ability to replace or increase reserves, increase production, reduce or otherwise control operating and capital costs, generate income or cash flows or pay dividends are forward-looking statements. Forward-
looking statements are not guarantees of performance. Although EOG believes the expectations reflected in its forward-looking statements are reasonable and are based on reasonable assumptions, no assurance can be
given that these assumptions are accurate or that any of these expectations will be achieved (in full or at all) or will prove to have been correct. Moreover, EOG's forward-looking statements may be affected by known,
unknown or currently unforeseen risks, events or circumstances that may be outside EOG's control. Important factors that could cause EOG's actual results to differ materially from the expectations reflected in EOG's
forward-looking statements include, among others:
• the timing, extent and duration of changes in prices for, supplies of, and demand for, crude oil and condensate, natural gas liquids, natural gas and related commodities;
• the extent to which EOG is successful in its efforts to acquire or discover additional reserves;
• the extent to which EOG is successful in its efforts to economically develop its acreage in, produce reserves and achieve anticipated production levels from, and maximize reserve recovery from, its existing and future
crude oil and natural gas exploration and development projects;
• the extent to which EOG is successful in its efforts to market its crude oil and condensate, natural gas liquids, natural gas and related commodity production;
• the availability, proximity and capacity of, and costs associated with, appropriate gathering, processing, compression, transportation and refining facilities;
• the availability, cost, terms and timing of issuance or execution of, and competition for, mineral licenses and leases and governmental and other permits and rights-of-way, and EOG’s ability to retain mineral licenses
and leases;
• the impact of, and changes in, government policies, laws and regulations, including tax laws and regulations; environmental, health and safety laws and regulations relating to air emissions, disposal of produced
water, drilling fluids and other wastes, hydraulic fracturing and access to and use of water; laws and regulations imposing conditions or restrictions on drilling and completion operations and on the transportation of
crude oil and natural gas; laws and regulations with respect to derivatives and hedging activities; and laws and regulations with respect to the import and export of crude oil, natural gas and related commodities;
• EOG's ability to effectively integrate acquired crude oil and natural gas properties into its operations, fully identify existing and potential problems with respect to such properties and accurately estimate reserves,
production and costs with respect to such properties;
• the extent to which EOG's third-party-operated crude oil and natural gas properties are operated successfully and economically;
• competition in the oil and gas exploration and production industry for the acquisition of licenses, leases and properties, employees and other personnel, facilities, equipment, materials and services;
• the availability and cost of employees and other personnel, facilities, equipment, materials (such as water) and services;
• the accuracy of reserve estimates, which by their nature involve the exercise of professional judgment and may therefore be imprecise;
• weather, including its impact on crude oil and natural gas demand, and weather-related delays in drilling and in the installation and operation (by EOG or third parties) of production, gathering, processing, refining,
compression and transportation facilities;
• the ability of EOG's customers and other contractual counterparties to satisfy their obligations to EOG and, related thereto, to access the credit and capital markets to obtain financing needed to satisfy their
obligations to EOG;
• EOG's ability to access the commercial paper market and other credit and capital markets to obtain financing on terms it deems acceptable, if at all, and to otherwise satisfy its capital expenditure requirements;
• the extent and effect of any hedging activities engaged in by EOG;
• the timing and extent of changes in foreign currency exchange rates, interest rates, inflation rates, global and domestic financial market conditions and global and domestic general economic conditions;
• political conditions and developments around the world (such as political instability and armed conflict), including in the areas in which EOG operates;
• the use of competing energy sources and the development of alternative energy sources;
• the extent to which EOG incurs uninsured losses and liabilities or losses and liabilities in excess of its insurance coverage;
• acts of war and terrorism and responses to these acts;
• physical, electronic and cyber security breaches; and
• the other factors described under ITEM 1A, Risk Factors, on pages 13 through 21 of EOG’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015 and any updates to those factors set forth in EOG's
subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K.
In light of these risks, uncertainties and assumptions, the events anticipated by EOG's forward-looking statements may not occur, and, if any of such events do, we may not have anticipated the timing of their occurrence
or the duration and extent of their impact on our actual results. Accordingly, you should not place any undue reliance on any of EOG's forward-looking statements. EOG's forward-looking statements speak only as of the
date made, and EOG undertakes no obligation, other than as required by applicable law, to update or revise its forward-looking statements, whether as a result of new information, subsequent events, anticipated or
unanticipated circumstances or otherwise.
Oil and Gas Reserves; Non-GAAP Financial Measures: The United States Securities and Exchange Commission (SEC) permits oil and gas companies, in their filings with the SEC, to disclose not only “proved” reserves
(i.e., quantities of oil and gas that are estimated to be recoverable with a high degree of confidence), but also “probable” reserves (i.e., quantities of oil and gas that are as likely as not to be recovered) as well as
“possible” reserves (i.e., additional quantities of oil and gas that might be recovered, but with a lower probability than probable reserves). Statements of reserves are only estimates and may not correspond to the
ultimate quantities of oil and gas recovered. Any reserve estimates provided in this presentation that are not specifically designated as being estimates of proved reserves may include "potential" reserves and/or other
estimated reserves not necessarily calculated in accordance with, or contemplated by, the SEC’s latest reserve reporting guidelines. Investors are urged to consider closely the disclosure in EOG’s Annual Report on
Form 10-K for the fiscal year ended December 31, 2015, available from EOG at P.O. Box 4362, Houston, Texas 77210-4362 (Attn: Investor Relations). You can also obtain this report from the SEC by calling 1-800-SEC-0330
or from the SEC's website at www.sec.gov. In addition, reconciliation and calculation schedules for non-GAAP financial measures can be found on the EOG website at www.eogresources.com.
3. EOG _0516-1
1Q 2016
Announced Successful Enhanced Oil Recovery Project In Eagle Ford
Established Austin Chalk Play Overlaying South Texas Eagle Ford
Exceeded U.S. Oil Production Forecast
Reduced LOE per BOE 29% YoY
Operations
Increased 2016 U.S. Oil Production Forecast* by 2%
On Track to Achieve 47% YoY Capital Expenditure Decrease*
Two-Thirds of Well Cost Reductions from Sustainable
Efficiency Improvements
Lowered 2016 LOE, Transportation and G&A Expense Forecast*
* Based on full-year estimates as of May 5, 2016, excluding acquisitions.
4. EOG _0516-2
Four Gas Injection Pilot Projects with 15 Producing Wells
- One Additional Project Planned for 2016 with 32 Wells
- Geologically and Geographically Diverse
- EOR Incremental Production in 2016 ≈1,000 Net Bopd
Attractive Economics
- ATROR* >30% and PVI** >2.0 at $40 Oil
- Finding Cost <$6 per Barrel
- Capital Investment ≈$1MM per Well
- Long Reserve Life and Low Decline Rate
Extended Development Timeline
- Limited to Developed Areas
- Evaluating Optimal EOR Development Plan
- Studying Extent of EOR Applicability Across Field
Not Widely Repeatable across Other Tight Oil Plays
- Good Vertical Containment
- Black Oil Window
- EOG Eagle Ford Uniquely Positioned in Optimal Setting
* See reconciliation schedules. Natural gas price $2.50 per MMBtu Henry Hub.
** Net present value divided by capital investment.
7. EOG _0516-5
New Geologic Concept In an Existing Play
Precision Targeting Key
Responds Well to EOG-Style Completions
Overlays Existing Eagle Ford Acreage
Exhibiting Premium-Level Well Performance
Two Exploratory Wells Completed YTD; Plan 7 Additional Wells in 2016
- Leonard AC Unit 101H 30-Day IP: 2,100 Bopd and 2,715 Boed
- Denali Unit 101H 20-Day IP: 2,265 Bopd and 3,130 Boed
8. EOG _0516-6
$30 $40 $50 $60
* Estimated potential reserves net to EOG, not proved reserves. See reconciliation schedules.
100%+
10%
60%
30%
Premium Drilling Direct ATROR*
New Standard of Capital Discipline
Creates Large Capital Efficiency Gains
Faster Production Growth
Adding Locations Faster Than Drilling
Extends U.S. Horizontal Lead
Globally Competitive
Oil:
2 BnBoe* >3,200 Locations >10 Years of Drilling
9. EOG _0516-7
Focus on Premium Locations
Precision Targeting
Advanced Completions
Lower Costs
* Domestic completions, gross oil production.
10.7
13.6
20.9
2014 2015 2016 Est
120-Day Cumulative Oil Production*
(Bbl Per Foot of Treated Lateral)
10. EOG _0516-8
0
5
10
15
20
25
30
35
40
45
0
100
200
300
400
500
600
700
800
900
EOG A B C D E F G H I J K
Number
of Wells
1st 3 Months
Bopd/Boed 134
Wolfcamp Delaware
Wolfcamp Midland
Natural Gas
Well Count
Average three-month production, normalized to 5,000’ lateral. All horizontal wells from original operator January 2015 – February 2016.
Gas production converted at 20:1.
Delaware Basin: Culberson, Eddy, Lea, Loving, Reeves and Ward counties. Peer Companies: APA, APC, CXO, XEC.
Midland Basin: Martin, Midland and Upton counties. Peer Companies: APA, CXO, FANG, PE, PXD, RSPP, QEP.
Source: IHS Performance Evaluator, supplied by IHS Global Inc.; Copyright (2016).
11. EOG _0516-9
0
30
60
90
120
150
0 30 60 90 120 150 180 210 240 270
Eagle Ford East Wells
Average Cumulative Oil Production*
2012
2013
2014
Eagle Ford West Wells
Average Cumulative Oil Production*
(Mbo)
Producing Days
* Normalized to 6,600-foot lateral.
2015
0
30
60
90
120
150
0 30 60 90 120 150 180 210 240 270
Producing Days
* Normalized to 4,600-foot lateral.
(Mbo)
2012
2013
2014
2015
12. EOG _0516-10
* Based on full-year estimates as of May 5, 2016, excluding acquisitions.
$6.2
$3.6
$2.0
$1.4
$0.8
$0.4
$0.7
$0.3
$0.1
288.9
284.4
270.0
0.00
50.00
100.00
150.00
200.00
250.00
300.00
0
1
2
3
4
5
6
7
8
9
10
2014 2015 2016*
$8.3 Bn
$4.7 Bn
$2.4 - $2.6 Bn
- 44%
- 47%
Oil Production (MBopd)
Gathering, Processing and Other
Exploration and Development Facilities
Exploration and Development
13. EOG _0516-11
* CWC = Drilling, Completion, Well-Site Facilities and Flowback.
11.5
7.5
6.7
2014 2015 Target
Delaware Basin
Wolfcamp Oil Play
South Texas Eagle Ford Bakken
* Normalized to 5,300’ lateral. * Normalized to 8,400’ lateral.* Normalized to 4,500’ lateral.
6.1
5.7
5.2
2014 2015 Target
8.8
7.2
6.2
2014 2015 Target
14. EOG _0516-12
32.8
18.7
8.8
2014 2015 Record
Delaware Basin
Wolfcamp Oil Play
South Texas Eagle Ford Bakken
* Normalized to 5,300’ lateral. * Normalized to 8,400’ lateral.* Normalized to 4,500’ lateral.
14.2
10.9
8.9
7.8
3.7
2012 2013 2014 2015 Record
20.8
14.7
12.4
8.5
5.4
2012 2013 2014 2015 Record
15. EOG _0516-13
Pressure
Pumping
Wireline
Rentals &
Equipment
Drilling
Flowback &
Facilities
Supervsion
& Labor
1Q 2015 Efficiencies Pricing 2016
Target
$8.3MM
-$1.5MM
-$0.5MM
$6.7MM
Water
Handling
Faster
Completion
Operations
Drilling
Flowback &
Facilities
* CWC = Drilling, Completion, Well-Site Facilities and Flowback.
+$0.4MM
High-
Density
Completions
3/4 Savings From Efficiencies
Efficiency Savings
$1.5MM Per Well
Price Savings
$0.5MM Per Well
Sustainable Efficiency Improvements
16. EOG _0516-14
2014 1Q15 2Q15 3Q15 4Q15 1Q16
G&P G&A Taxes Other Than Income Transportation LOE
$12.84*
$13.72
$14.49
$15.39
$17.02
* Excludes one-time expenses of $18.7 million in 4Q15 related to early leasehold termination and $22.4 million in 1Q16 related
to voluntary retirement program. Includes stock compensation expense and other non-cash items.
See reconciliation schedules.
$11.96*
17. EOG _0516-15
Improve Well Productivity with Technology and Innovation
- Enhanced Oil Recovery
- Precision Lateral Targeting and High-Density Completions
Lower Costs
- Identify Further Efficiency Improvements
- Enhance Infrastructure
Extend Our Lead
- Add Premium-Quality Drilling Potential Through Organic Exploration
- Develop Only Premium Locations Going Forward
Maintain a Strong Balance Sheet
- Balance Capex to Cash Flow
- Recycle Inventory Through Asset Sales
Reset Company to Be Successful At Low Prices
Resume High-Return Growth When Prices Improve
19. EOG _0516-17
High-Quality Assets With Scale
- Large Eagle Ford, Bakken and Delaware Basin Footprints
- Scale Drives Cost Savings and Leverages Technology Gains
Innovation and Technology Focus
- In-House Completion Design
- Merging Data Science and Geoscience
Low-Cost Operator
- Highest Production Per Employee in Peer Group
- Vertically Integrated: Self-Sourced Sand, Chemicals and Drilling Fluids
Organic Exploration Growth
- Internal Prospect Generation First-Mover Advantage
- Replacing Inventory at 2x Drilling Pace
Organization and Culture
- Decentralized Structure Bottom-Up Value Creation
- Returns-Driven Culture – Significant Employee Compensation Criteria
Sustainable Competitive Advantage
20. EOG _0516-18
Shifting to Premium Locations
- Generate at Least 30% Direct ATROR* at $40 Oil
Premium Inventory >10 Years and Growing
- Adding New Premium Inventory 2-3 Times Faster Than Drilling
- Improve Existing Plays With Technology and Innovation
- Organic Exploration and Tactical Acquisitions
Premium Drilling Significantly Increases Capital Productivity
- Oil Production Declines Just 5% YOY With 47% Less Capital**
- Drill ≈200 Net Wells and Complete ≈270 Net Wells
- 230 Drilled Uncompleted Net Wells At YE 2016
Maintain Strong Balance Sheet
* See reconciliation schedules.
** Based on full-year estimates as of May 5, 2016, excluding acquisitions
Low-Cost Global Oil Producer
Focus on Returns
21. EOG _0516-19
Eagle Ford
Delaware Basin Wolfcamp - Oil and Combo
Delaware Basin 2nd Bone Spring Sand
Delaware Basin Leonard
Bakken/Three Forks – Core
Bakken/Three Forks – Non-Core
* Direct ATROR at Flat Oil Prices. See reconciliation schedules. Oil price at the wellhead, natural gas price $2.50 per MMBtu.
40%15%
Powder River Basin
Wyoming DJ Basin
5% 10%
$50Oil
Excludes Indirect Capital:
- Gathering, Processing and Other Midstream
- Land, Seismic, Geological and Geophysical
Direct ATROR*
Based on cash flow and time value of money:
- Estimated Future Commodity Prices and Operating Costs
- Costs Incurred to Drill, Complete and Equip a Well
$40Oil
60%30%
Premium Inventory
22. EOG _0516-20
Eagle Ford
Bakken/Three Forks – Core
Bakken/Three Forks – Non-Core
Delaware Basin Wolfcamp
Delaware Basin 2nd Bone Spring Sand
Delaware Basin Leonard
DJ Basin
Powder River Basin
Inventory Growing in Quality and Size
5,200
590
950
2,130
1,250
1,600
460
275
≈ 12,500
* Number of remaining net wells as of January 1, 2016. Assumes no further downspacing, acreage additions or enhanced recovery.
** Estimated potential reserves net to EOG, not proved reserves. Includes proved reserves and prior production from existing wells.
Remaining Locations*
Total Premium
549,000
120,000
110,000
168,000
111,000
93,000
85,000
63,000
≈ 1,300,000
Net
Acres
Resource
Potential
(MMBoe)**Play
3,200
620
400
1,300
500
550
210
190
≈ 7,000
1,535
330
695
255
280
80
≈ 3,200
23. EOG _0516-21
* Estimated potential reserves net to EOG, not proved reserves.
2010 2011 2012 2013 2014 2015
Eagle Ford
Bakken/Rockies
Delaware Basin
Barnett Combo
1,610
65
700
1,885
1,400
1,600
7x Production Since 2010
24. EOG _0516-22
WEBB
FRIO
BEE
UVALDE
DIMMIT
BEXAR
KINNEY
ZAVALA
MEDINA
LA SALLE
LAVACA
MAVERICK
LIVE OAK
ATASCOSA
DE WITT
FAYETTE
MCMULLEN
WILSON
GONZALES
KARNES
GUADALUPE
Oil
76%
Gas
13%
NGLs
11%
Current Production Mix
2016 Operations
Largest Oil Producer and Acreage Holder in the Eagle Ford
- Average 5 Rigs Operating in 2016
- Complete ≈150 Net Wells in 2016 vs. 329 in 2015
Estimated Resource Potential 3.2 BnBoe;* 7,200 Net Wells
- EUR 450 MBoe/Well, NAR at ≈40-Acre Spacing
Precision Targeting
- Lateral Drilling Window 20’ vs. Prior 150’
Acreage 91% Held by Production at YE 2015
1Q 2016 Wells 30-Day IP: Bopd Boed
- Stills Unit 2H 2,775 3,490
- Fleetwood Unit 5H-8H 2,330 2,995
- Boedeker 18H 2,305 2,760
Focused on Premium Locations
Few Lease Retention Obligations
Testing Stacked-Staggered “W” Patterns 200’ to 250’ Apart
Reducing Operating Costs Through Sustainable Efficiencies
* Estimated potential reserves net to EOG, not proved reserves. Includes 1,032 MMBoe proved reserves booked at December 31, 2015
and prior production from existing wells.
Crude Oil
Window
Dry Gas
Window
Wet Gas
Window
0 25 Miles
San Antonio
Corpus Christi
Laredo
EOG 608,000 Net Acres
549,000 Net Acres in Oil Window
25. EOG _0516-23
Brushy Canyon
Leonard A
Leonard B
1st Bone Spring
2nd Bone Spring
3rd Bone Spring
Upper Wolfcamp
Middle Wolfcamp
Lower Wolfcamp
4,800’
One World
Trade Center
1,792’
Battery Park to Wall Street to City Hall 4,800’ Middle
Bakken
Lower
Eagle
Ford
40’
150’
Battery
Park
Wall Street
City Hall
26. EOG _0516-24
168,000 Net Acres Prospective with Multiple Target Zones
- 4,500’ Average Lateral; ≈700’ Spacing
- 2,130 Net Drilling Locations
- Complete ≈60 Net Wells in 2016 vs. 28 in 2015
Estimated Resource Potential 1.3 BnBoe,* Net to EOG
Oil Play
- 110,000 Net Acres, 1,375 Locations
- EUR 750 MBoe, Gross; 600 MBoe, NAR
- CWC** $7.5MM in 2015; Target $6.7MM
Combo Play
- 58,000 Net Acres, 755 Locations
- EUR 900 MBoe, Gross; 675 MBoe, NAR
- CWC** $6.6MM in 2015
- Acquired ≈8,000 Net Acres in 4Q 2015
Testing 500’ Spacing and Additional Targets
- Extending Lateral Lengths
Wolfcamp Oil Window Wells Bopd Boed Lateral
- 1Q 2016 12 Wells 30-Day IP 1,480 2,150 4,500’
- Rattlesnake 21 Fed Com #701H 20-Day IP 2,670 3,735 7,000’
- Rattlesnake 21 Fed Com #702H 20-Day IP 2,870 4,010 7,100’
* Estimated potential reserves net to EOG, not proved reserves. Includes 211 MMBoe of proved reserves booked at December 31, 2015
and prior production from existing wells.
** CWC = Drilling, Completion, Well-Site Facilities and Flowback
NGLs
33%
Typical Reeves County
Wolfcamp Combo Well
Gas
36%
Oil
31%
Gas
26%
NGLs
24%
Oil
50%
Typical Northern
Wolfcamp Oil Well
27. EOG _0516-25
111,000 Net Acres Prospective in Northern Delaware Basin
- 1,250 Net Drilling Locations; ≈ 850’ Spacing
- Complete ≈10 Net Wells in 2016 vs. 27 in 2015
Estimated Resource Potential 500 MMBoe,* Net to EOG
Typical Well
- 4,500’ Lateral
- EUR 500 MBoe, Gross; 400 MBoe, NAR
- $6.6 MM CWC** in 2015
- API 43°- 48°
93,000 Net Acres Prospective
- >1,600 Net Drilling Locations; 12 Net Wells Completed in 2015
Estimated Resource Potential 550 MMBoe,* Net to EOG
- Evaluating Oil Mix; Highly Variable Across the Play
Typical Well
- 4,500’ Lateral
- EUR 500 MBoe, Gross; 400 MBoe, NAR
- $5.8 MM CWC** in 2015
* Estimated potential reserves net to EOG, not proved reserves. Includes 64 MMBoe of proved reserves in Second Bone Spring Sand and
72 MMBoe in Leonard Shale booked at December 31, 2015 and prior production from existing wells.
** CWC = Drilling, Completion, Well-Site Facilities and Flowback.
NGLs
17%
Typical 2nd Bone
Spring Sand Well
Gas
23%
Oil
60%
Leonard Shale
Second Bone Spring Sand
28. EOG _0516-26
* Estimated potential reserves net to EOG, not proved reserves. Includes 165 MMBoe proved reserves in Bakken/Three Forks
booked at December 31, 2015. Includes prior production from existing wells.
** CWC = Drilling, Completion, Well-Site Facilities and Flowback.
Focus on Premium Locations in Bakken Core
Complete ≈10 Net Wells in 2016 vs. 25 in 2015
Estimated Resource Potential 1.0 BnBoe*
- 1,540 Net Remaining Locations
- 8,400’ Lateral
- $7.2 MM CWC** in 2015; Target $6.2MM
- 650’ Spacing
Completed 1 Net Well in 1Q 2016
- Liberty 33-1423H 30-Day IP: 1,565 Bopd
Achieved Significant Operating Cost Savings
- LOE/Boe Declined 35% YOY in 1Q 2016
Canada
Bakken Core
Bakken
Subcrop
Antelope
Extension
Bakken Lite
State Line
Elm
Coulee
EOG Acreage – Bakken/Three Forks
Bakken Oil Saturated
20 Miles
Gas
15%
Remaining Wells
Oil
70%
NGL
15%
Reserve Potential* Gross/Net Net
Area MMBoe, Net EUR (MBoe/Well) Locations
Core 360 745/610 590
Non-Core 400 510/420 950
Existing Wells 260 580/470 560
Total 1,020 2,100
Stanley, ND
Core
Non-Core
29. EOG _0516-27
Middle East
Venezuela
Brazil
Russia
Nigeria
Angola
US L48 Conv
Mexico
GOM
$0
$10
$20
$30
$40
$50
$60
$70
$80
$90
$100
Middle
East/Russia
Medium Cost
Conventional
US
Tight Oil
Deep
Water
High Cost
Non-OPEC
Arctic / Russian
Unconventional
* Price required to achieve 10% Direct ATROR (see reconciliation schedules).
Source: PIRA.
Brent ($/BBL)
50% 22% 5% 16% 7% -% World Supply
Oil Sands
New Marginal Cost of Oil
(≈ $65 - $75)
North Sea
U.S. Tight OilFar East
Russia EOG ($30)
*
EOG Competitive Globally
30. EOG _0516-28
7,998
8,087
8,244
8,568
8,577 8,678
8,754 8,835
8,959
9,129
9,198
9,423
9,341
9,451
9,648
9,694
9,479
9,315
9,433
9,407
9,453
9,379
9,329
9,246 9,180
9,129
9,037 8,948
8,799
8,629
8,508
8,253
8,112
8,178
8,228
8,222
8,189
8,152
8,150
8,141
8,075
8,006
8,002
7,860
7,792
7,951
8,082
8,115
Jan Mar May Jul Sep Nov Jan Mar May Jul Sep Nov Jan Mar May Jul Sep Nov Jan Mar May Jul Sep Nov
* EIA STEO Model Released April 2016
2014
+1,252
2015
+726
2016
-829
2017
-558
(MBod)
31. EOG _0516-29
* Source: Sanford C. Bernstein & Co. Thousand Club includes wells with 30-day rate over 1,000 Boed in 2015.
Represents 3,600 wells out of 40,000 drilled.
Companies: BHP, CHK, CLR, COG, COP, CXO, DVN, EPE, EQT, HES, MRO, NBL, PXD, RRC, RICE, SM, SWN, TOU, XEC.
0%
20%
40%
60%
80%
100%
0
50
100
150
200
250
300
EOG A B C D E F G H I J K L M N O P Q R S
Well Count
Percent Oil
Well Count Percent Oil
32. EOG _0516-30
EOG > 2X Industry Average
758
368
0
100
200
300
400
500
600
700
800
EOG Industry
* Eagle Ford, Bakken, Permian, DJ and PRB.
Source: IHS Performance Evaluator, supplied by IHS Global Inc.; Copyright (2016).
1/1/13 through 6/30/15.
Bopd
33. EOG _0516-31
-$1.3MM
$0.8MM
$4.3MM
Industry production data from IHS. EOG economic analysis.
* * NPV calculated using $50 WTI and $2.50 NYMEX fixed for life of well.
** Top 10 Operators are 30% less productive than EOG. Assumes industry capital and operating costs equal to EOG.
EOG EOG
Premium
Wells
Top 10
Producers**
2015 2016
EOG Creates Most NPV per Well
34. EOG _0516-32
2015 Completions
4,030 Events /1,000 ft
540 Events /1,000 ft
2010 Completions
Contain Events Closer
to Wellbore
Enhance Complexity to
Contact More Surface Area
Note: Microseismic dots represent well stimulation events during completions.
36. EOG _0516-34
Source: IHS. As of November, 2015.
Peer companies: APC, CHK, CLR, COP, DVN, MRO, PXD, WLL and XOM.
370
251
217 215
200
189
161 160 156
136
EOG A B C D E F G H I
EOG is Industry Leader
38. EOG _0516-36
Production and
Reserve GrowthReturns
A 30%
B 45%
C 40%
D 30%
F 58%
10%
EOG 8%25%
E 30%10%
G 10%
H 30%
Source: Company Reports. Percentages represent weightings applied in determining executive officer short-term incentive compensation.
Peer Group: APA, APC, CHK, DVN, HES, MRO, NBL and PXD.
EOG Employees Are Incentivized to Deliver Returns
39. EOG _0516-37
$0.03 $0.04 $0.04 $0.04 $0.05 $0.06
$0.08
$0.12
$0.18
$0.26
$0.29
$0.31 $0.32
$0.34
$0.38
$0.59
$0.67 $0.67
$0.00
$0.10
$0.20
$0.30
$0.40
$0.50
$0.60
$0.70
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016*
Note: Dividends adjusted for 2-for-1 stock splits effective March 1, 2005 and March 31, 2014.
* Indicated annual rate.
Committed to the Dividend
16 Dividend Increases in 17 Years
40. EOG _0516-38
United Kingdom
East Irish Sea (Conwy)
- Production Commenced March 2016
- Under Production Test to Determine Optimal
Long-Term Rate
Sercan Joint Development Project
- 5-Well Program
- Complete One Well Late 2016
Limited Capital Spending in 2016
Active Exploration Program
Trinidad
TRINIDAD
ATLANTIC
OCEAN
U(a)
VENEZUELA
4(a)
U(b)
SECC
NORTH
SEA
East
Irish
Sea
Trinidad and Tobago
United Kingdom
41. EOG _0516-39
Maintain Strong Balance Sheet
- Investment Grade Credit Ratings
Successful Efforts Accounting
Zero Goodwill
$2.7 Billion in Available Liquidity
- $0.7 Billion Cash at March 31, 2016
- $2.0 Billion Credit Facility – Undrawn at March 31, 2016
Increased Dividend 16 Times in 17 Years
- Current Indicated Annual Rate $0.67 per Share
EOG Reserves Within 5% of Independent Engineering Analysis
- Prepared by DeGolyer and MacNaughton
- 28 Consecutive Years
- Reviewed 86% of 2015 Proved Reserves
42. EOG _0516-40
0
1
2
3
4
5
6
7
A B C D E F G H I J Peer
Avg
K EOG L M N
Source: UBS Investment Research. Net debt as of 12/31/15 and 2016E EBITDAX as of April 18, 2016.
Based on $40/Bbl WTI and $2.40/MMBtu.
Peer Group: APA, APC, CLR, COG, COP, CXO, DVN, HES, MRO, NBL, NFX, OXY, PXD and RRC.
43. Copyright; Assumption of Risk: Copyright 2016. This presentation and the contents of this presentation have been copyrighted by EOG Resources, Inc. (EOG). All rights reserved. Copying of the presentation is
forbidden without the prior written consent of EOG. Information in this presentation is provided “as is” without warranty of any kind, either express or implied, including but not limited to the implied warranties of
merchantability, fitness for a particular purpose and the timeliness of the information. You assume all risk in using the information. In no event shall EOG or its representatives be liable for any special, indirect or
consequential damages resulting from the use of the information.
Cautionary Notice Regarding Forward-Looking Statements: This presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, including, among others, statements and projections regarding EOG's future financial position, operations,
performance, business strategy, returns, budgets, reserves, levels of production and costs, statements regarding future commodity prices and statements regarding the plans and objectives of EOG's management for
future operations, are forward-looking statements. EOG typically uses words such as "expect," "anticipate," "estimate," "project," "strategy," "intend," "plan," "target," "goal," "may," "will," "should" and "believe" or the
negative of those terms or other variations or comparable terminology to identify its forward-looking statements. In particular, statements, express or implied, concerning EOG's future operating results and returns or
EOG's ability to replace or increase reserves, increase production, reduce or otherwise control operating and capital costs, generate income or cash flows or pay dividends are forward-looking statements. Forward-
looking statements are not guarantees of performance. Although EOG believes the expectations reflected in its forward-looking statements are reasonable and are based on reasonable assumptions, no assurance can be
given that these assumptions are accurate or that any of these expectations will be achieved (in full or at all) or will prove to have been correct. Moreover, EOG's forward-looking statements may be affected by known,
unknown or currently unforeseen risks, events or circumstances that may be outside EOG's control. Important factors that could cause EOG's actual results to differ materially from the expectations reflected in EOG's
forward-looking statements include, among others:
• the timing, extent and duration of changes in prices for, supplies of, and demand for, crude oil and condensate, natural gas liquids, natural gas and related commodities;
• the extent to which EOG is successful in its efforts to acquire or discover additional reserves;
• the extent to which EOG is successful in its efforts to economically develop its acreage in, produce reserves and achieve anticipated production levels from, and maximize reserve recovery from, its existing and future
crude oil and natural gas exploration and development projects;
• the extent to which EOG is successful in its efforts to market its crude oil and condensate, natural gas liquids, natural gas and related commodity production;
• the availability, proximity and capacity of, and costs associated with, appropriate gathering, processing, compression, transportation and refining facilities;
• the availability, cost, terms and timing of issuance or execution of, and competition for, mineral licenses and leases and governmental and other permits and rights-of-way, and EOG’s ability to retain mineral licenses
and leases;
• the impact of, and changes in, government policies, laws and regulations, including tax laws and regulations; environmental, health and safety laws and regulations relating to air emissions, disposal of produced
water, drilling fluids and other wastes, hydraulic fracturing and access to and use of water; laws and regulations imposing conditions or restrictions on drilling and completion operations and on the transportation of
crude oil and natural gas; laws and regulations with respect to derivatives and hedging activities; and laws and regulations with respect to the import and export of crude oil, natural gas and related commodities;
• EOG's ability to effectively integrate acquired crude oil and natural gas properties into its operations, fully identify existing and potential problems with respect to such properties and accurately estimate reserves,
production and costs with respect to such properties;
• the extent to which EOG's third-party-operated crude oil and natural gas properties are operated successfully and economically;
• competition in the oil and gas exploration and production industry for the acquisition of licenses, leases and properties, employees and other personnel, facilities, equipment, materials and services;
• the availability and cost of employees and other personnel, facilities, equipment, materials (such as water) and services;
• the accuracy of reserve estimates, which by their nature involve the exercise of professional judgment and may therefore be imprecise;
• weather, including its impact on crude oil and natural gas demand, and weather-related delays in drilling and in the installation and operation (by EOG or third parties) of production, gathering, processing, refining,
compression and transportation facilities;
• the ability of EOG's customers and other contractual counterparties to satisfy their obligations to EOG and, related thereto, to access the credit and capital markets to obtain financing needed to satisfy their
obligations to EOG;
• EOG's ability to access the commercial paper market and other credit and capital markets to obtain financing on terms it deems acceptable, if at all, and to otherwise satisfy its capital expenditure requirements;
• the extent and effect of any hedging activities engaged in by EOG;
• the timing and extent of changes in foreign currency exchange rates, interest rates, inflation rates, global and domestic financial market conditions and global and domestic general economic conditions;
• political conditions and developments around the world (such as political instability and armed conflict), including in the areas in which EOG operates;
• the use of competing energy sources and the development of alternative energy sources;
• the extent to which EOG incurs uninsured losses and liabilities or losses and liabilities in excess of its insurance coverage;
• acts of war and terrorism and responses to these acts;
• physical, electronic and cyber security breaches; and
• the other factors described under ITEM 1A, Risk Factors, on pages 13 through 21 of EOG’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015 and any updates to those factors set forth in EOG's
subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K.
In light of these risks, uncertainties and assumptions, the events anticipated by EOG's forward-looking statements may not occur, and, if any of such events do, we may not have anticipated the timing of their occurrence
or the duration and extent of their impact on our actual results. Accordingly, you should not place any undue reliance on any of EOG's forward-looking statements. EOG's forward-looking statements speak only as of the
date made, and EOG undertakes no obligation, other than as required by applicable law, to update or revise its forward-looking statements, whether as a result of new information, subsequent events, anticipated or
unanticipated circumstances or otherwise.
Oil and Gas Reserves; Non-GAAP Financial Measures: The United States Securities and Exchange Commission (SEC) permits oil and gas companies, in their filings with the SEC, to disclose not only “proved” reserves
(i.e., quantities of oil and gas that are estimated to be recoverable with a high degree of confidence), but also “probable” reserves (i.e., quantities of oil and gas that are as likely as not to be recovered) as well as
“possible” reserves (i.e., additional quantities of oil and gas that might be recovered, but with a lower probability than probable reserves). Statements of reserves are only estimates and may not correspond to the
ultimate quantities of oil and gas recovered. Any reserve estimates provided in this presentation that are not specifically designated as being estimates of proved reserves may include "potential" reserves and/or other
estimated reserves not necessarily calculated in accordance with, or contemplated by, the SEC’s latest reserve reporting guidelines. Investors are urged to consider closely the disclosure in EOG’s Annual Report on
Form 10-K for the fiscal year ended December 31, 2015, available from EOG at P.O. Box 4362, Houston, Texas 77210-4362 (Attn: Investor Relations). You can also obtain this report from the SEC by calling 1-800-SEC-0330
or from the SEC's website at www.sec.gov. In addition, reconciliation and calculation schedules for non-GAAP financial measures can be found on the EOG website at www.eogresources.com.