Welcome to our dedicated page for EOG Resources news (Ticker: EOG), a resource for investors and traders seeking the latest updates and insights on EOG Resources stock.
EOG Resources, Inc. (NYSE: EOG) is a leading crude oil and natural gas exploration and production company headquartered in the Heritage Plaza Building in downtown Houston, Texas. As a Fortune 500 company, EOG is one of the largest independent oil and natural gas companies in the United States with significant proven reserves in the United States, Canada, Trinidad and Tobago, the United Kingdom, and China.
EOG focuses on increasing growth by drilling lower-cost, internally generated prospects rather than through acquisitions. The company's operational strategy emphasizes maintaining a strong balance sheet with a moderate net debt-to-total capitalization ratio and increasing the percentage of crude oil and natural gas liquids in their portfolio, particularly in North American production.
As of the end of 2023, EOG reported net proven reserves of 4.5 billion barrels of oil equivalent, with net production averaging around 985,000 barrels of oil equivalent per day. This production ratio is composed of 71% oil and natural gas liquids and 29% natural gas.
In recent company news, EOG reported its second quarter 2023 results, highlighting exceptional operating performance with better-than-expected production volumes, capital expenditures, and cash operating costs. The company declared a dividend of $0.825 per share on its common stock, payable on October 31, 2023, and repurchased 2.8 million shares for $300 million during the second quarter.
In the third quarter of 2023, EOG continued its strong performance, updating its guidance to reflect higher volumes and lower operating costs. The company declared a 10% increase in its regular dividend and announced a special dividend of $1.50 per share, demonstrating its commitment to returning value to shareholders. The total cash return to shareholders for 2023 is estimated to be $4.1 billion, representing approximately 75% of the company's expected full-year free cash flow.
EOG also announced a 10-year Brent-linked gas sales agreement starting in January 2027, which provides pricing diversification for gas volumes sourced from several basins within EOG's portfolio. Additionally, the company plans to allocate between $6.0 and $6.4 billion for its 2024 capital program, targeting the drilling and completion of 600 net wells in its domestic premium areas.
Overall, EOG Resources, Inc. continues to leverage its operational excellence, strong balance sheet, and innovative strategies to generate significant returns and long-term value for its shareholders. For more detailed financial and operational updates, visit the company’s official website.
EOG Resources has announced a quarterly dividend of $0.4125 per share on its Common Stock, payable on October 29, 2021. Stockholders of record as of October 15, 2021 will receive this dividend, indicating an annual rate of $1.65. EOG is recognized as one of the largest crude oil and natural gas exploration and production companies in the United States, with proved reserves in the U.S. and Trinidad.
EOG Resources, Inc. (EOG) has announced a conference call and webcast to discuss its third-quarter 2021 results on November 5, 2021, at 9 a.m. Central time. Investors can access the live webcast via the company's Investors/Events & Presentations page. A replay of the call will be available for one year. EOG is a major player in crude oil and natural gas exploration and production in the United States and Trinidad.
EOG Resources (EOG) will present at the Barclays CEO Energy-Power Conference on September 8, 2021, at 8:45 a.m. Central Time. Ezra Y. Yacob, President of EOG, will represent the company. Interested investors can access live webcasts and replays for up to one year on the Investor Events & Presentations page of EOG's website. EOG is one of the largest crude oil and natural gas exploration and production companies in the U.S., with proved reserves in the U.S. and Trinidad. For more information, visit www.eogresources.com.
EOG Resources reported strong second-quarter 2021 results with total revenue of $4.14 billion and a net income of $907 million, translating to $1.55 per share. The company generated over $1 billion in free cash flow and adjusted net income of $1.01 billion, or $1.73 per share. EOG’s oil production exceeded guidance, while total cash operating costs were 3% below the midpoint of guidance. The firm remains committed to returning $1.5 billion to shareholders in 2021. Environmental performance also improved with initiatives to reduce emissions and increase recycled water usage.
EOG Resources, Inc. (EOG) will hold a conference call and webcast on August 5, 2021, at 9 a.m. Central time to discuss its second quarter 2021 results. The event can be accessed via the Investors/Events & Presentations page on EOG's website. A replay will be available for one year after the call. EOG is a leading crude oil and natural gas exploration and production company in the U.S., with significant proved reserves in the U.S. and Trinidad.
EOG Resources, Inc. announced a management succession plan effective October 1, 2021. Ezra Y. Yacob will become CEO and join the Board, succeeding William R. Thomas, who will transition to Non-Executive Chairman after 42 years with the company. Yacob, with 16 years at EOG, is recognized for his expertise in unconventional resource development. Lloyd W. 'Billy' Helms, Jr. will continue as COO and take on the role of President. Both leaders emphasize EOG's strong operational performance and innovative culture, signaling a stable leadership transition.
EOG Resources, a leading crude oil and natural gas company, will present at the J.P. Morgan Energy, Power and Renewables Conference on June 22 at 9:30 a.m. Central time. Ezra Y. Yacob, the President, will represent the company during the session. Investors can access live webcasts and replays on EOG's Investors/Events & Presentations page for up to one year. EOG is known for its significant reserves in the U.S. and Trinidad, marking its position as a top player in the energy sector.
EOG Resources has promoted Jeffrey R. "Jeff" Leitzell to Executive Vice President, Exploration and Production, effective immediately. Previously the Vice President and General Manager at EOG's Midland office, he is credited with significantly increasing activity in the Delaware Basin and advancing environmental initiatives such as water re-use and methane emissions reduction. Leitzell brings 17 years of industry experience, including almost 13 years at EOG, and will oversee operations in Midland, Denver, and Artesia.
EOG Resources reported a strong first quarter of 2021, achieving total revenue of $3.694 billion, up from $2.965 billion in the previous quarter. Net income surged to $677 million, or $1.16 per share, compared to $337 million in 4Q 2020. A special dividend of $1.00 and a regular dividend of $0.4125 were announced, totaling an expected cash return of $1.5 billion for shareholders. The company generated a record $1.1 billion in free cash flow while reducing debt to $5.133 billion, leading to a debt-to-capitalization ratio of 19.8%. EOG expects continued operational improvements and financial discipline.
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