EOG RESOURCES Business Summary

EOG Resources Inc. (EOG) operates as a leading independent exploration and production (E&P) company, generating revenue primarily through the extraction and sale of crude oil, natural gas liquids (NGLs), and natural gas. The company’s business model is centered on a "premium" drilling strategy, prioritizing high-return wells that yield a minimum 30% direct after-tax rate of return at conservative commodity prices. Its primary business segments include Crude Oil and Condensate, which accounts for the vast majority of its top-line revenue, followed by Natural Gas Production and Midstream operations involving natural gas gathering and processing. EOG maintains a dominant market position in high-yield U.S. shale plays, including the Delaware Basin, Eagle Ford, and the Utica and Dorado plays. It competes directly with major independent peers such as ConocoPhillips, Diamondback Energy, and Occidental Petroleum, distinguishing itself through superior cost-efficiency and a decentralized operational structure that empowers regional divisions to optimize local assets. Originally founded in 1985 as Enron Oil & Gas Company and becoming fully independent in 1999, EOG is currently led by Chairman and CEO Ezra Yacob, a geologist by training who joined the firm in 2005 and previously served as President. The executive team includes Executive Vice President and CFO Ann Janssen, a 30-year company veteran with deep expertise in energy accounting, and EVP and COO Jeff Leitzell, who brings an extensive engineering background to the firm’s multi-basin operations. Technology and data-driven decision-making are overseen by Sandeep Bhakhri, Senior Vice President and Chief Information and Technology Officer. The company’s Board of Directors features notable industry figures, including 2026 Presiding Director Bob Daniels, a former Anadarko Petroleum executive, and John D. Chandler, the former CFO of The Williams Companies, who was appointed in late 2025 to bolster the board's midstream and financial oversight.