Eog Res Inc Stock Price, News & Analysis

EOG Resources has announced the promotion of Ezra Y. Yacob to President, effective immediately. Yacob, who has been with EOG since 2005, previously served as Executive Vice President, Exploration and Production. He played a key role in the success of the Delaware Basin and has helped create a strong portfolio of exploration opportunities. Yacob's strong leadership and technical skills are expected to benefit EOG's operations as it continues to focus on crude oil and natural gas production across its extensive assets in the U.S., Trinidad, and China.

The Board of Directors of EOG Resources has declared a quarterly dividend of $0.375 per share on its Common Stock, scheduled for payment on January 29, 2021. Stockholders of record as of January 15, 2021 will receive this dividend, reflecting an indicated annual rate of $1.50. EOG Resources is recognized as one of the largest producers in the U.S. for crude oil and natural gas, boasting significant proved reserves across the U.S., Trinidad, and China.

On November 5, 2020, EOG Resources reported a third-quarter net loss of $42 million, or $0.07 per share, compared to net income of $615 million, or $1.06 per share, in Q3 2019. Adjusted net income was $252 million, down from $654 million. The company generated $1.2 billion in net cash from operating activities and identified a significant natural gas play in South Texas with a potential of 21 Tcf. EOG added 1,400 net premium drilling locations, bringing the total to 11,500. Capital expenditures were 23% below target, with crude production exceeding expectations by 2%. EOG's new three-year outlook targets 70-80% reinvestment of cash flow.

EOG Resources is set to present at two upcoming conferences. Ezra Y. Yacob will represent EOG at the BofA Securities Global Energy Conference on November 11 at 8:00 a.m. CT. Additionally, Lloyd W. "Billy" Helms, Jr. will present at the Bernstein Operational Decisions Conference on November 17 at 10:00 a.m. CT. Interested parties can access live webcasts and recorded replays on EOG's website. EOG is a leading crude oil and natural gas exploration and production company with operations in the United States, Trinidad, and China.

EOG Resources announced the appointment of Michael T. Kerr to its Board of Directors, effective October 5, 2020. Kerr brings over 36 years of investment experience, primarily with Capital Group, where he managed multiple funds and covered global oil and gas companies. His insights are expected to add value to EOG's strategic direction. Additionally, the company declared a quarterly dividend of $0.375 per share, payable on October 30, 2020, with an annual rate of $1.50.

EOG Resources will host a conference call and webcast to discuss its third quarter 2020 results on November 6, 2020, at 9 a.m. Central time. Investors can access the live webcast on the company's Investors/Events & Presentations page, and a replay will be available for one year. EOG, one of the largest crude oil and natural gas exploration and production companies, has proved reserves in the U.S., Trinidad, and China. For inquiries, contact Angie Lewis at 713-651-6722.

EOG Resources is set to present at the Barclays CEO Energy-Power Conference on September 9 at 8:45 a.m. Central time, with CEO William R. Thomas representing the company. Interested parties can access a live webcast on the EOG Investors/Events & Presentations page, with replays available for a year. EOG, one of the largest crude oil and natural gas exploration and production companies in the U.S., holds proved reserves in the U.S., Trinidad, and China.

EOG Resources reported a second quarter 2020 net loss of $909 million, or $1.57 per share, compared to a net income of $848 million, or $1.46 per share in Q2 2019. Adjusted non-GAAP net loss was $131 million, reflecting the impact of lower commodity prices and production volumes due to COVID-19. Despite these challenges, EOG generated positive free cash flow of $194 million by significantly reducing operating costs and capital expenditures. Additionally, EOG discovered 500 Bcf of net natural gas resources in Trinidad, enhancing its future production potential.