EOG Resources (EOG) Research | Aerarium Research

Forward Estimates

EPS Estimates

Current Qtr

$4.97

$3.61$5.81

vs $2.32+114.3%

22 analysts

Next Qtr

$4.59

$3.45$5.62

vs $2.71+69.5%

21 analysts

Current Yr

$17.24

$13.89$20.20

vs $10.16+69.7%

25 analysts

Next Yr

$14.82

$12.81$18.00

vs $17.24-14.1%

26 analysts

Revenue Estimates

Current Qtr

$7.75B

$6.80B$9.14B

vs $5.48B+41.5%

8 analysts

Next Qtr

$7.40B

$6.18B$9.25B

vs $5.85B+26.5%

8 analysts

Current Yr

$28.76B

$25.61B$33.92B

vs $22.63B+27.1%

9 analysts

Next Yr

$26.08B

$22.84B$31.02B

vs $28.76B-9.3%

8 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for EOG on EDGAR.

EOG filing events and research context
Filed	Item	Context
May 5, 2026	mda_quarterly	EOG Resources reported a 22% increase in first-quarter 2026 operating revenues to $6.92 billion, with net income rising to $1.98 billion. Growth was primarily driven by a 60% surge in natural gas revenues—fueled by higher volumes in the Utica and Permian Basin alongside improved pricing—and a 9% increase in crude oil and condensate revenues driven by higher delivery volumes. The company continues to prioritize high-return unconventional plays, specifically the Delaware Basin, Utica, and Eagle Ford. Strategic activity included the $165 million sale of northern Midland Basin assets and the ongoing integration of the Encino acquisition in the Utica play. For the full year 2026, EOG projects capital expenditures between $6.3 billion and $6.7 billion, targeting a 13% increase in total production. The company maintains a robust balance sheet with a 20% debt-to-total capitalization ratio and $3.8 billion in cash. EOG adheres to a cash return framework, committing to return at least 70% of annual net cash from operations to shareholders through dividends and share repurchases. Primary risks include commodity price volatility linked to Middle East geopolitical instability and inflationary pressures affecting drilling and completion efficiencies.
Feb 24, 2026	business	EOG Resources, Inc. explores, develops, produces, and markets crude oil, natural gas liquids (NGLs), and natural gas. The company operates primarily in major producing basins across the United States and the Republic of Trinidad and Tobago, while evaluating expansion opportunities in the Kingdom of Bahrain and the United Arab Emirates. A key strategic growth driver was the August 2025 acquisition of Encino Acquisition Partners, LLC, which significantly increased EOG's footprint in the Utica play. This follows a strategic exit from Oman in 2023. From a financial perspective, EOG is exposed to significant commodity price volatility and the inherent subjectivity of proved reserve estimations. Recent trends indicate a focus on resource allocation and play-specific economics, evidenced by $843 million in pretax impairment charges in 2025, primarily impacting assets in the Barnett Shale and Woodford Oil Window. Beyond exploration and production, EOG generates diversified revenue through gathering, processing, and marketing activities. The company utilizes a successful efforts accounting method and manages price risk through financial commodity derivative instruments, including swaps and collars, to mitigate fluctuations in crude oil and natural gas pricing.
Feb 24, 2026	mda	EOG reported 2025 net income of $4,980 million, a decrease from $6,403 million in 2024, while total operating revenues fell 4% to $22,632 million. This decline was primarily driven by a 14% drop in average NYMEX crude oil prices to $64.78 per barrel, though partially offset by a 51% increase in natural gas prices. Net proved reserves grew to 5,514 MMBoe. A major strategic development was the $5.7 billion acquisition of Encino Acquisition Partners, adding 675,000 core net acres in the Utica play. EOG also expanded its international footprint through exploration concessions in Bahrain and Abu Dhabi. Operational priorities center on the Delaware Basin, Eagle Ford, and Utica plays, leveraging extended laterals and self-sourced sand to drive efficiency. The debt-to-total capitalization ratio rose to 21%, with liquidity supported by $3.4 billion in cash and a new $3.0 billion revolving credit facility. EOG maintains a commitment to return at least 70% of free cash flow to shareholders, distributing $4.8 billion through dividends and repurchases in 2025. Anticipated 2026 capital expenditures range from $6.3 billion to $6.7 billion, focusing on US crude oil drilling to increase total production volumes.

Filed

Item

Context

May 5, 2026

mda_quarterly

EOG Resources reported a 22% increase in first-quarter 2026 operating revenues to $6.92 billion, with net income rising to $1.98 billion. Growth was primarily driven by a 60% surge in natural gas revenues—fueled by higher volumes in the Utica and Permian Basin alongside improved pricing—and a 9% increase in crude oil and condensate revenues driven by higher delivery volumes. The company continues to prioritize high-return unconventional plays, specifically the Delaware Basin, Utica, and Eagle Ford. Strategic activity included the $165 million sale of northern Midland Basin assets and the ongoing integration of the Encino acquisition in the Utica play. For the full year 2026, EOG projects capital expenditures between $6.3 billion and $6.7 billion, targeting a 13% increase in total production. The company maintains a robust balance sheet with a 20% debt-to-total capitalization ratio and $3.8 billion in cash. EOG adheres to a cash return framework, committing to return at least 70% of annual net cash from operations to shareholders through dividends and share repurchases. Primary risks include commodity price volatility linked to Middle East geopolitical instability and inflationary pressures affecting drilling and completion efficiencies.

Feb 24, 2026

business

EOG Resources, Inc. explores, develops, produces, and markets crude oil, natural gas liquids (NGLs), and natural gas. The company operates primarily in major producing basins across the United States and the Republic of Trinidad and Tobago, while evaluating expansion opportunities in the Kingdom of Bahrain and the United Arab Emirates. A key strategic growth driver was the August 2025 acquisition of Encino Acquisition Partners, LLC, which significantly increased EOG's footprint in the Utica play. This follows a strategic exit from Oman in 2023. From a financial perspective, EOG is exposed to significant commodity price volatility and the inherent subjectivity of proved reserve estimations. Recent trends indicate a focus on resource allocation and play-specific economics, evidenced by $843 million in pretax impairment charges in 2025, primarily impacting assets in the Barnett Shale and Woodford Oil Window. Beyond exploration and production, EOG generates diversified revenue through gathering, processing, and marketing activities. The company utilizes a successful efforts accounting method and manages price risk through financial commodity derivative instruments, including swaps and collars, to mitigate fluctuations in crude oil and natural gas pricing.

Feb 24, 2026

mda

EOG reported 2025 net income of $4,980 million, a decrease from $6,403 million in 2024, while total operating revenues fell 4% to $22,632 million. This decline was primarily driven by a 14% drop in average NYMEX crude oil prices to $64.78 per barrel, though partially offset by a 51% increase in natural gas prices. Net proved reserves grew to 5,514 MMBoe. A major strategic development was the $5.7 billion acquisition of Encino Acquisition Partners, adding 675,000 core net acres in the Utica play. EOG also expanded its international footprint through exploration concessions in Bahrain and Abu Dhabi. Operational priorities center on the Delaware Basin, Eagle Ford, and Utica plays, leveraging extended laterals and self-sourced sand to drive efficiency. The debt-to-total capitalization ratio rose to 21%, with liquidity supported by $3.4 billion in cash and a new $3.0 billion revolving credit facility. EOG maintains a commitment to return at least 70% of free cash flow to shareholders, distributing $4.8 billion through dividends and repurchases in 2025. Anticipated 2026 capital expenditures range from $6.3 billion to $6.7 billion, focusing on US crude oil drilling to increase total production volumes.

Forward Estimates

EOG filing events and research context

Keep researching EOG

Related tickers

Related explainers

Forward Estimates