EOG Resources Secures New Abu Dhabi Oil Concession

EOG Resources ( (EOG) ) has provided an announcement.

On May 16, 2025, EOG Resources announced it was awarded a new oil exploration concession for Unconventional Onshore Block 3 by Abu Dhabi’s Supreme Council for Financial and Economic Affairs. The concession covers 3,609 square kilometers in the Al Dhafra region of Abu Dhabi, where EOG holds 100 percent equity and operatorship. In collaboration with Abu Dhabi National Oil Company, EOG plans to explore and appraise unconventional oil, with drilling expected to start in the second half of 2025. This strategic move could enhance EOG’s industry positioning by expanding its resource potential in a hydrocarbon-rich basin.

The most recent analyst rating on (EOG) stock is a Buy with a $146.00 price target. To see the full list of analyst forecasts on EOG Resources stock, see the EOG Stock Forecast page.

Spark’s Take on EOG Stock

According to Spark, TipRanks’ AI Analyst, EOG is a Outperform.

EOG Resources exhibits strong financial performance, operational efficiency, and a stable balance sheet, positioning it well within the industry. The company’s strategic acquisitions and exploration successes reinforce its growth prospects. While technical indicators suggest caution due to potential short-term volatility, the attractive valuation and robust earnings further support a positive outlook.

To see Spark’s full report on EOG stock, click here.

More about EOG Resources

EOG Resources, Inc. 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.

Average Trading Volume: 4,200,761

Technical Sentiment Signal: Hold

Current Market Cap: $63.09B

Find detailed analytics on EOG stock on TipRanks’ Stock Analysis page.