M&A Deal Summary

EOG Resources Acquires Encino Energy

On May 30, 2025, EOG Resources acquired energy services and equipment company Encino Energy from CPP Investments for 5.6B USD

Acquisition Highlights
  • This is EOG Resources’ 1st transaction in the Energy Services and Equipment sector.
  • This is EOG Resources’ largest (disclosed) transaction.
  • This is EOG Resources’ 2nd transaction in the United States.
  • This is EOG Resources’ 1st transaction in Texas.

M&A Deal Summary

Date 2025-05-30
Target Encino Energy
Sector Energy Services and Equipment
Buyer(s) EOG Resources
Sellers(s) CPP Investments
Deal Type Add-on Acquisition
Deal Value 5.6B USD

Target

Encino Energy

Houston, Texas, United States
Encino Energy is an oil and gas acquisition and development company. Encino acquires operated and non-operated working interests, minerals and equity interests in exploration and production and related businesses located primarily onshore in the United States. Encino Energy was founded in 2011 and is based in Houston, Texas.

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Buyer(S) 1

Buyer

EOG Resources

Houston, Texas, United States

Category Company
Founded 1985
Sector Oil/Gas Exploration
Employees3,150
Revenue 23.4B USD (2024)
DESCRIPTION
EOG Resource's corporate headquarters in downtown Houston, Texas.
EOG Resource's corporate headquarters in downtown Houston, Texas.

EOG Resources is a non-integrated crude oil and natural gas company with proved reserves in the US, Canada, Trinidad, the UK, and China. EOG Resources was founded in 1985 and is based in Houston, Texas.


DEAL STATS #
Overall 3 of 3
Sector: Energy Services and Equipment M&A 1 of 1
Type: Add-on Acquisition M&A Deals 3 of 3
State: Texas M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2025 M&A 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-24 Kitimat LNG

Calgary, Alberta, Canada

Kitimat LNG, Inc. engages in the construction of Liquefied Natural Gas (LNG) terminals.

Sell -

Seller(S) 1

SELLER
DESCRIPTION

CPP Investments is a Canadian pension fund focused on a variety of investing strategies, including public equities, debt, and alternative investments. The Firm's private equity arm looks to acquire direct stakes in private companies, as well as make fund investments and acquire secondary positions. For direct stakes in companies, CPP looks to invest across North American and Europe and seeks to commit a minimum of $150 million per transaction. CPP has no industry preferences however the Firm will not invest in real assets. CPP Investments was established in 1997 and is based in Toronto, Ontario.


DEAL STATS #
Overall 18 of 18
Sector: Energy Services and Equipment M&A 1 of 1
Type: Add-on Acquisition M&A Deals 9 of 9
State: Texas M&A 6 of 6
Country: United States M&A 11 of 11
Year: 2025 M&A 2 of 2
Size (of disclosed) 6 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-03-13 407 ETR

Woodbridge, Ontario, Canada

407 ETR is an all-electronic, barrier-free, toll highway spanning 108km in the Greater Toronto Area. 407 ETR is based in Woodbridge, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-07-28 NEOGOV

El Segundo, California, United States

NEOGOV is a talent management software platform focused on government, education and public sector clients. NEOGOV provides market major software-as-a-service (SaaS) talent management solutions to automate and streamline the recruitment, onboarding and performance evaluation processes for government and other public sector institutions. NEOGOV was founded in 2000 and is based in El Segundo, California.

Buy -