EOG Resources Names Ezra Y. Yacob CEO as Bill Thomas Retires

After 42 years with the company—eight of which were as CEO, William R. “Bill” Thomas has announced his intention to retire from EOG Resources Inc.

As part of his succession plan, the company said in a June 7 announcement that Ezra Y. Yacob will become CEO. Additionally, EOG COO Lloyd W. “Billy” Helms Jr. will be appointed to the additional role of president.

Previously, Yacob had been appointed EOG president in January following several years serving as executive vice president of E&P for the Houston-based independent, which is one of the largest E&P companies in the U.S.

“We are excited to have someone of Ezra’s talent and experience lead EOG forward,” commented Thomas in a statement on June 7.

Yacob has 21 years of industry experience and 16 years of service with EOG. “In keeping with EOG’s unique culture,” Thomas noted Yacob experience gained working on and leading cross-functional teams throughout his career with EOG.

Prior to joining the headquarters executive management team, he managed the company’s Permian Basin exploration and development activities from 2014 to 2017 as vice president and general manager of the EOG Midland office. He also previously held various geoscience and leadership positions in EOG’s Fort Worth and Midland offices. Prior to EOG, he worked at the U.S. Geological Survey for five years.

“Ezra’s career with EOG began in 2005 at the dawn of the shale oil and gas era,” Thomas added, “and I believe he is one of the industry’s foremost experts in the exploration and development of unconventional resources.” 

Additionally, Thomas heralded Helms as “the champion of utilizing innovation to constantly improve the company” in his statement.

Helms joined an EOG predecessor company in 1981 and has served as the company’s COO since 2017. He joined the headquarters executive management team in 2012 and previously was responsible for EOG’s operations across multiple offices along with the company’s engineering and acquisitions and business development functions as executive vice president of exploration and production.

Thomas noted that Helms was instrumental in EOG’s recently announced net zero ambition as well as EOG's historic merger with Yates Petroleum in 2016.

“Billy has held many leadership roles in his 40-year career with EOG, demonstrating a distinctive ability to encourage new ideas from our employees across multiple disciplines—innovative ideas that utilize in-field technology, information technology, and new processes to drill better wells for lower cost, more safely and with lower emissions,” he said. “He then sees the very best of those ideas through to execution across the company.”

Both Yacob and Helms’ promotions will be effective Oct. 1, according to the company release. At which time, Thomas will retire and assume the role of non-executive chairman of the board as part of the succession plan.

Commenting on the appointment, Yacob said: “I am honored to succeed Bill in leading this exceptional team. Year after year, for more than eight years, Bill has set and re-set the standard for EOG’s operational and financial performance ever higher.”

“EOG is in the best shape of its history,” Yacob continued, “and I am humbled and excited to expand on Bill’s legacy of leading a great team to high performance through serving leadership.”

Thomas joined HNG Oil Co., a predecessor of EOG, in January 1979 and was instrumental in EOG’s successful exploration, development and exploitation of various key resource plays, according to the company website.

Prior to being named CEO in July 2013, he had served as president and other leadership positions at EOG, including senior executive vice president of exploitation and senior executive vice president of exploration. Additionally, he was appointed as chairman of the EOG board in January 2014.