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Oil and gas firm EOG strengthens Utica footprint with $5.6 billion Encino deal
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Oil and gas firm EOG strengthens Utica footprint with $5.6 billion Encino deal
May 30, 2025 5:42 AM

May 30 (Reuters) - EOG Resources ( EOG ) said on Friday

it is acquiring U.S. oil and gas producer Encino Acquisition

Partners for $5.6 billion, including debt, to strengthen its

Utica shale footprint.

The deal signed with Canada Pension Plan Investment Board

and Encino Energy will give EOG access to additional 675,000 net

core acres and expand its multi-basin portfolio to more than 12

billion barrels of oil equivalent net resource.

Encino operates in the Utica shale basin of Ohio and is one

of the largest privately owned oil and gas exploration and

production companies in the United States.

EOG currently expects to fund the acquisition through $3.5

billion of debt and $2.1 billion of cash on hand.

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