M&A
confidence high
sentiment positive
materiality 0.90
EOG Resources to acquire Encino Acquisition Partners for $5.6B; raises dividend 5%
EOG RESOURCES INC
- Acquisition price $5.6B inclusive of net debt; funded by $3.5B debt and $2.1B cash.
- Adds 675K net core acres in Utica, pro forma 1.1M net acres and 275 MBoed production.
- Deal immediately accretive to per-share metrics: +10% to 2025E EBITDA, +9% to CFO and FCF.
- Expects $150M+ first-year synergies from lower capital, operating, and debt financing costs.
- Board declares quarterly dividend of $1.02/share ($4.08 annual), up 5%, payable Oct 31, 2025.