After sampling the porridge, chairs, and beds—and finding one that was “just right,”—Houston-based EOG Resources last week snapped up the oil and gas acquisition that perfectly fit its Ohio Utica strategy. Not one to waste the use of a metaphor when it presents itself, Reese Energy Consulting today is following EOG’s own Goldilocks story, version $5.6 billion in a cash-and-stock purchase of Houston-based Encino Energy.

To be clear, EOG is a force to be reckoned with. Their acquisitions are rare. Still, you can’t hurl a rock without hitting a basin it doesn’t operate in. Its late May acquisition of Encino, the Utica’s largest oil producer and second-largest gas producer is a big fatty of a deal for EOG, adding 675,000 net core acres to its Utica position for a combined 1.1 million net acres and pro forma production of 275 MBOED. And there’s more. According to Hart Energy, EOG’s Encino deal consolidates 61% of Ohio’s daily horizontal oil output leaving 43.382 MBPD up for grabs.

 Perhaps another sample of porridge, chairs, and beds that fit just right could create a new Goldilocks story for the likes of…let’s see, Ascent Resources, Expand Energy, Infinity Natural Resources, or Antero Resources? Learn more about REC and our crude oil and natural gas expertise in every rock you can hurl without hitting a basin at www.ReeseEnergyConsulting.com.