Tremendous production of oil and other liquids led the charge for EOG Resources (NYSE: EOG) as it closed out the year on a very positive note. While near term production is expected to continue climbing higher, the company also left investors with a lot to smile about regarding many years down the road. In arguably its most important basin, the Eagle Ford, the company raised its recoverable reserve estimate by 45%. To find out why this is so important to EOG and companies like Chesapeake Energy (NYSE: CHK), tune in to our short video clip below.

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This segment is from Tuesday's edition of "Digging for Value," in which sector analysts Joel South and Taylor Muckerman discuss energy and materials news with host Alison Southwick. The twice-weekly show can be viewed on Tuesdays and Thursdays. It can also be found on Twitter, along with our extended coverage of the energy & materials sectors @TMFEnergy.

Joel South has no position in any stocks mentioned. Taylor Muckerman has no position in any stocks mentioned. The Motley Fool owns shares of EOG Resources. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.