EOG Channels Enron Roots While Outperforming Chesapeake: Energy
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EOG Resources Inc., the fourth quarter’s best-performing U.S. shale producer, plans to get a record 75 percent of its North American revenue from higher-profit petroleum liquids this year as natural-gas prices tumble, branching faster into oil than Chesapeake Energy Corp.
The company, formerly Enron Oil & Gas Co., expects to increase 2012 oil output by almost a third through boosting production from liquids-rich geological formations such as Texas’s Eagle Ford, where EOG is the biggest crude producer.