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EOG Resources bets big on Ohio oil boom with $5.6 billion Encino deal

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EOG aims to consolidate the Utica shale oil window, anticipating a potential boom in Ohio.
EOG Resources is making a significant investment in Ohio's Utica shale, betting on an oil boom in the region. The company plans to drill dozens of new wells, aiming to capitalize on the high-quality oil reserves found in the area. This move is part of EOG's strategy to diversify its portfolio and tap into new sources of oil, amidst fluctuating global oil prices. The investment is expected to create jobs and stimulate economic growth in Ohio, although it also raises environmental concerns among local communities. EOG's CEO, Ezra Yacob, expressed confidence in the project, citing the company's successful track record in similar shale plays.

Read the Full Fortune Article at:
[ https://fortune.com/2025/05/30/eog-resources-bets-big-ohio-oil-boom/ ]