EOG
EOG Resources, Inc.101.78
-4.15-3.92%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Defends Delaware shift, LNG details
Q&A robustly defended the Delaware Basin slowdown to ~300 wells from 390, attributing flat exit production to longer laterals, cost cuts, and secondary zones matching primary economics despite lower per-well output—addressing investor inventory worries head-on. Management disclosed updated maintenance capex of $4.8B-$5.4B (midpoint $5.1B) post-Encino to hold production flat three years. LNG contracts expand with +140 MMBtu/d this quarter and more in 2026-27; Dorado eyes data center supply. Encino synergies topped $150M early, in-basin sand ahead. Delaware does less, delivers more. Tone stayed confident on multi-basin returns; watch Permian consistency.
Key Stats
Market Cap
55.57BP/E (TTM)
10.11Basic EPS (TTM)
10.07Dividend Yield
0.04%Recent Filings
10-K
FY2025 reserves report
EOG Resources closed FY2025 ended December 31, 2025, with total net proved reserves of approximately 4,729 Mboe for 84.3% of properties audited by DeGolyer and MacNaughton, including 1,760 Mbbl oil/condensate, 1,376 Mbbl NGLs, and 9,559 MMcf gas (derived). Proved developed reserves hit 2,857 Mboe, while undeveloped added 1,873 Mboe, signaling robust drilling inventory. Reserves lean on U.S. assets in Texas, New Mexico, Ohio, Pennsylvania, priced at $66.47/bbl oil equivalent and $2.785/Mcf gas. No financial results or Q4 metrics disclosed in the 10-K. Proved reserves may change with production history. Volatility in commodity prices threatens quarterly momentum.
8-K
Q4 earnings drop on impairments
EOG reported Q4 2025 net income of $701 million, down sharply from prior quarters on plunging crude prices to $59.54/Bbl and $689 million impairments tied to Barnett Shale and Woodford assets. Production hit record 1,399 MBoed and 128.7 MMBoe, boosted by the $6.7 billion Encino acquisition. Volumes surged, yet margins squeezed to $6.70/Boe. Reserves grew to 5,514 MMBoe.
8-K
Q4 derivative settlements paid $21M
EOG Resources disclosed Q4 2025 derivative settlements, paying net cash of $21 million on financial commodity contracts while Brent-linked gas sales await January 2027 deliveries. NYMEX crude averaged $59.17/bbl, nat gas $3.55/MMBtu; actual realizations varied by basis and quality. Derivatives lock in cash flows amid volatile prices. Mark-to-market accounting applies.
8-K
Chandler joins EOG board
EOG Resources appointed John D. Chandler to its Board and Audit Committee on December 10, 2025. Chandler brings over 30 years in energy finance, including CFO stints at Williams and Magellan Midstream. He'll get standard director cash retainer and RSUs vesting in one year. Financial expertise bolsters oversight.
8-K
EOG upsizes revolver to $3B
EOG Resources replaced its $1.9B revolving credit facility maturing 2028 with a new $3.0B senior unsecured revolver maturing December 3, 2030, led by JPMorgan. The upsized facility—expandable to $4.0B—carries SOFR- or base-rate pricing tied to EOG's credit ratings, plus a debt-to-capitalization covenant capped at 65%. No borrowings outstanding.
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