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EOG Resources Inc
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2025 Encino Acquisition Presentation
| Pearce Hammond; Neel Panchal; Shelby O’Connor | Page 2 of 11 |
July 04, 2025
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"2025 Encino Acquisition Presentation"
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Accretive Acquisition Creates Premier Utica Asset Position Acquisition Overview: Highly Contiguous Acreage & Strong Strategic Fit Acquisition Announcement 2 Purchase Price: $5.6 Bn Maintains Industry Leading Balance Sheet NO Equity Issuance Balance Sheet Funded: (1) Estimated average total production rate from May 30, 2025 agreement execution date through end of year. (2) Reflects core net acreage and associated estimated undeveloped net resource (not proved reserves). Total acquired acreage of ~1.2 MM net acres. (3) Estimated annualized accretion metrics based on May 30, 2025 agreement execution date. (4) Quarterly dividend declared May 30, 2025; indicated annual per-share rate of $4.08, as of May 30, 2025. Anticipate 2H 2025 Close Date Ohio West Virginia Pennsylvania EOG Acreage Encino Acreage Overlapping Acreage 2025E Production 1 : Total Acreage 2 : Undeveloped Net Resource 2 : 235 MBoed 675K Net Acres 1.0+ Bn Boe Value Accretive 3 : Raising Regular Dividend: 5% 10% Accretion to ‘25 EBITDA Increase to $1.02 per share 4 Acquisition Overview 9% Accretion to ‘25 CFO & FCF