The article complements, nicely, the CarpeDiem story linked earlier.
Why is EOG Resources the next ExxonMobil? Because the company is sitting on the holy trinity of American shale plays: the Williston, Eagle Ford, and Permian basins. In addition, new technology like hydraulic fracturing and horizontal drilling have unlocked vast quantities of hydrocarbons which have grown EOG Resources' production at a 37% annual clip over the past seven years.
Of course to catch up to the Big Oil titans, EOG Resources will have to sustain that growth rate and continue to make big discoveries. But there's reason to believe EOG Resources is sitting on a lot more oil than currently booked.
The North Dakota Bakken has been one of the biggest industry developments over the past decade. But recent reports suggest that there might be an even bigger play deeper underground. According to the latest survey by the United States Geologic Survey, the Lower Three Forks could contain 3.7 billion barrels of undiscovered, technically recoverable oil. That's slightly larger than the Bakken.Disclaimer: this is not an investment site. Do not make any investment decisions based on anything you read at this site or what you think you may read at this site.
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