EOG Resources Awarded New Oil Concession in UAE

By Tamara Parker • Friday, May 16 10:13 • Permanent Link

EOG Resources, Inc. has been awarded a new oil exploration concession for Unconventional Onshore Block 3 (UCO3) in the UAE, spanning 3,609 square kilometers. The company holds 100 percent equity and operatorship and plans to explore and appraise unconventional oil in the concession area in coordination with Abu Dhabi National Oil Company (ADNOC). Following a three-year appraisal phase, EOG may enter into a production concession, with drilling expected to commence in the second half of 2025.

EOG Resources, Inc. (NYSE: EOG) is one of the largest crude oil and natural gas exploration and production companies in the United States with proved reserves in the United States and Trinidad. Today the company's shares have moved 0.23% to a price of $115.86. For more information, read the company's full 8-K submission here.

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