EOG Resources, Inc. (NYSE:EOG) entered into a definitive agreement to acquire Encino Acquisition Partners LLC from Canada Pension Plan Investment Board for $5.6 billion on May 30, 2025. Consideration of $5.6 billion is inclusive of EAP?s net debt. EOG currently expects to fund the acquisition through $3.5 billion of debt and $2.1 billion of cash on hand. The acquisition is subject to clearance under the Hart-Scott-Rodino Act and other customary closing conditions and is expected to occur in the second half of 2025.

Goldman Sachs & Co. LLC is serving as financial advisor and Wachtell, Lipton, Rosen & Katz and Akin Gump Strauss Hauer & Feld LLP is serving as legal advisor to EOG.