Best U.S. Oil Stocks To Buy #1 — EOG Resources (EOG)
When it comes to shale, EOG Resources (EOG) wears the crown among oil stocks.
Not only does EOG hold great positions in the Bakken Shale and hot-bed Permian Basin, but it basically wrote the book on oil drilling in the Eagle Ford. And it’s still adding chapters to that book.
EOG’s latest find in its massive Eagle Ford position — around 693,000 acres — could be one of the best gushers found in a while. The E&P firm’s five new wells in the region have managed to produce an average of 13,000 barrels of crude oil per day. That’s pretty impressive, as the wells have only been operating for a few weeks.
What’s also impressive is that crude oil being pumped out of these new wells is that it’s deliciously light. Meaning it’s quite easy to “crack” into gasoline and other petroleum-based products. With discoveries like that, it’s no wonder why EOG stock has surged to a 24 year on the news.
And after a recent stock split, EOG shares have continued their march upwards. While it isn’t the cheapest among oil stocks, it’s one of the best. And that makes EOG a big buy.