EOG Resources Inc. (EOG)

[OilStockReport]

EOG Resources (EOG) has 600000 net acres in the Bakken/Three Forks. It is the biggest oil producer in North Dakota. EOG has a 10 rig program, and plans 106 gross wells this year. It has had consistent well results:

Fertile 19-29H (Core Acreage) Initial production of (IP rate) 1008 Bo/d
Fertile 45-29H (Core Acreage) IP rate of 1223 Bo/d
Liberty LR 21-36H (Core Acreage) IP rate of 1201 Bo/d
Clarks Creek 3-0805H (Three Forks) IP rate of 1384 Bo/d
Hardscrabble 13-3526H (Stateline Area) IP rate of 1474 Bo/d

Remember these results are only based on oil and not oil equivalent. The Fertile wells were good, but in an area that has a good history of results. The Clarks Creek is a Three Forks well.

Hardscrabble might be the best well based on location. The Stateline Area is on the North Dakota side, but much closer to the Montana border. This shows the viability of this part of the play and helps to substantiate other smaller companies with Montana acreage.

EOG is a very large company that has done a very good job of switching its natural gas production to liquids. It continues to outperform estimates.