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EOG Resources, Inc. - EOG STOCK NEWS

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.

Rhea-AI Summary

EOG Resources (EOG) is set to release its second quarter 2024 financial results on August 2, 2024. The announcement will be accompanied by a conference call and webcast at 9 a.m. Central time (10 a.m. Eastern time). Investors can access the live webcast via the company's website under the Investors/Events & Presentations section. A replay of the webcast will be available for one year for those unable to attend the live session. For further inquiries, Angie Lewis can be contacted at 713-651-6722.

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On June 4, 2024, EOG Resources announced that it will present at the J.P. Morgan Energy, Power and Renewables Conference on June 17, 2024, at 12:45 p.m. Central time (1:45 p.m. Eastern time). Jeffrey R. Leitzell, Executive Vice President and Chief Operating Officer, will represent EOG. Interested parties can access live webcasts and replays for up to one year through the Investors/Events & Presentations page on the EOG website.

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EOG Resources (EOG) will present at the Bernstein Strategic Decisions Conference on May 29, 2024, at 10:00 a.m. Central Time (11:00 a.m. Eastern Time). Ezra Y. Yacob, the Chairman and CEO, will represent the company. Investors can access live webcasts and replays on the EOG website's Investors/Events & Presentations page for up to one year.

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EOG Resources, Inc. reported strong first-quarter 2024 results with net income of $1.6 billion. The company generated $1.2 billion of free cash flow and paid out dividends. EOG's operational execution led to significant capital returns to shareholders and maintained a strong balance sheet. The company's exploration success in the Utica is expected to enhance its premium portfolio. Despite lower crude oil and natural gas prices, EOG's production exceeded targets. The company repurchased $750 million of shares and has $3.3 billion remaining on its share buyback authorization.

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EOG Resources, Inc. announces the retirement of President Billy Helms after over 40 years with the company. Helms was a driving force behind innovation and continuous improvement at EOG, focusing on cost-effective and environmentally friendly operations.
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EOG Resources, Inc. (EOG) will host a conference call and webcast to discuss first quarter 2024 results on May 3, 2024. Investors can access the live webcast on the EOG website. A replay will be available for one year.
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EOG Resources, Inc. (EOG) reported strong financial results for Q4 and FY 2023, with total revenue at $24.2B and net income at $7.6B. The company generated $5.1B of free cash flow, declared a quarterly dividend of $0.91 per share, and repurchased $300M of shares. EOG's 2024 capital plan aims to grow oil production by 3% and total production by 7%.
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EOG Resources, Inc. (EOG) will host a conference call and webcast to discuss fourth quarter and full year 2023 results on Friday, February 23, 2024, at 9 a.m. Central time (10 a.m. Eastern time). The live webcast will be available on the Investors/Events & Presentations page on the EOG website, with a replay available for one year. For inquiries, please contact Angie Lewis at 713-651-6722.
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EOG Resources, Inc. (EOG) has announced the promotion of Jeffrey R. Leitzell to Executive Vice President and Chief Operating Officer and Ann D. Janssen to Executive Vice President and Chief Financial Officer, while Laura B. Distefano will succeed Ann as Vice President and Chief Accounting Officer.
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EOG Resources, Inc. (EOG) is set to present at the Goldman Sachs Energy, CleanTech and Utilities Conference on January 4, 2023. Lloyd W. 'Billy' Helms, Jr., President and COO, will represent EOG. The presentation will be available via live webcast and replays on the EOG website.
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FAQ

What type of company is EOG Resources, Inc.?

EOG Resources, Inc. is a leading crude oil and natural gas exploration and production company.

Where is EOG Resources, Inc. headquartered?

EOG Resources, Inc. is headquartered in the Heritage Plaza Building in downtown Houston, Texas.

What is the ticker symbol for EOG Resources, Inc.?

The ticker symbol for EOG Resources, Inc. is NYSE: EOG.

What are EOG's proven reserves as of 2023?

As of the end of 2023, EOG reported net proven reserves of 4.5 billion barrels of oil equivalent.

How does EOG increase its growth?

EOG increases its growth by drilling lower-cost, internally generated prospects rather than through acquisitions.

What was EOG's net production in 2023?

In 2023, EOG's net production averaged around 985,000 barrels of oil equivalent per day.

What recent financial achievements were reported by EOG in 2023?

EOG reported better-than-expected production volumes, capital expenditures, and cash operating costs for the second quarter of 2023, and declared a dividend of $0.825 per share.

What is EOG's strategy for returning value to shareholders?

EOG returns value to shareholders through regular and special dividends, as well as share repurchases.

What future initiatives has EOG announced?

EOG announced a 10-year Brent-linked gas sales agreement and plans to allocate $6.0 to $6.4 billion for its 2024 capital program.

How does EOG maintain its financial stability?

EOG maintains financial stability by focusing on operational efficiency, maintaining a strong balance sheet, and leveraging its multi-basin portfolio.

EOG Resources, Inc.

NYSE:EOG

EOG Rankings

EOG Stock Data

71.86B
574.71M
0.51%
92.16%
1.8%
Crude Petroleum and Natural Gas Extraction
Mining, Quarrying, and Oil and Gas Extraction
Link
United States of America
HOUSTON