EVP Jeffrey R. Leitzell Discusses EOG Resources at J.P. Morgan Energy Conference – Explosive Growth Ahead!

Houston, Texas – EOG Resources, Inc. presented at the J.P. Morgan Energy, Power, and Renewables Conference on June 17, 2024. Jeffrey R. Leitzell, EVP and COO of EOG Resources, engaged in a fireside chat at the conference, discussing various aspects of the company’s operations and future prospects.

During the conference, Leitzell highlighted the macroeconomic factors impacting the energy industry, emphasizing the balance in the oil market and the trend towards increased demand worldwide. He also discussed the volatility in the gas market, citing examples of price fluctuations and EOG’s strategic responses to optimize production and capitalize on emerging opportunities.

Regarding exploration opportunities, Leitzell elaborated on EOG’s international and domestic exploration efforts, focusing on the company’s criteria for evaluating potential plays. He emphasized the importance of returns-focused exploration, highlighting the need for scale, shallow decline, high return, and low F&D cost in new ventures.

In the discussion about EOG’s portfolio, Leitzell addressed questions about the company’s approach to portfolio renewal and its comparison to peers engaged in large-scale M&A activities. He outlined EOG’s strategy of focusing on low-cost approaches to portfolio management and maintaining a robust inventory of premium resources with high returns.

Leitzell also provided updates on specific projects, such as the Dorado asset in South Texas and the Beehive prospect in Australia. He discussed EOG’s efforts in infrastructure development, including the construction of a pipeline to enhance gas netbacks in the Dorado region.

Furthermore, Leitzell shared insights into EOG’s marketing agreements with Cheniere and Vitol, highlighting the company’s efforts to optimize price realizations and expand export opportunities for its gas products. He also touched on technological innovations in completion designs, emphasizing EOG’s commitment to maximizing efficiency and productivity in its operations.

Overall, Leitzell’s participation in the conference shed light on EOG Resources’ strategic priorities, operational efficiencies, and growth opportunities in the ever-evolving energy landscape.