EOG Resources Inc. has unveiled a 21 Tcf net natural gas resource in a familiar play in South Texas, which holds an estimated 1,250 net locations in the Austin Chalk and Eagle Ford Shale formations.

EOG plays

The discovery on the Dorado prospect is in Webb County, where EOG has 163,000 net acres, in 700 feet of stacked pay.

The Houston-based producer has drilled 17 wells in Dorado since early 2019, including five wells targeting the Austin Chalk. EOG also has drilled 12 wells since January 2019 targeting the Upper and Lower Eagle Ford, where it has long been a top operator.

CEO Bill Thomas, who led a conference call to discuss third quarter results on Friday, called Dorado “a great rock in a great location.” EOG is “decentralized,” he noted, which means it creates value “in...