Thu, Nov. 5, 6:57 PM
- EOG Resources (NYSE:EOG) -1.1% AH after reporting better than expected Q3 earnings, attributed to cost cuts and efficiency gains, while revenues plunged by 57% Y/Y to $2.17B.
- The earnings result excludes a $4.1B writedown in the value of some shale acreage, which EOG says were older and marginal assets.
- EOG says Q3 production fell 5% Y/Y, adjusted for the sale of its Canadian operations, to 569.6K boe/day, while capital spending fell 36% from a year ago.
- EOG does not raise its production forecast, preferring to keep more oil in the ground longer to wait for higher prices.
- EOG says it added 26K net acres in the Delaware sub-basin of the Permian through a series of deals, and that better understanding of the subsurface was adding to its resource potential in the area.
- Says Q3 lease and well expenses fell 17% Y/Y on a per-unit basis because of improved operational efficiencies and reduced service costs, while per-unit transportation costs fell 11%; also says it continues to lower completed well costs and operating costs from last year.
- EOG cut its capital budget earlier this year by ~$200M but maintains its most recent guidance for $4.9B-$5.9B in spending; it spent $8.3B in 2014.
Thu, Nov. 5, 4:46 PM
Wed, Nov. 4, 5:35 PM
- AAOI, ABCO, ABTL, ACAD, ACET, ACHN, AEGR, AGO, AHS, AIRM, AL, ALEX, ALIM, AMBR, AMRS, AMTG, ANET, ARCW, ATHX, ATSG, BBG, BBRG, BCEI, BEBE, BLDR, BPI, BRKS, BRS, CALD, CBI, CERS, CLNE, CLVS, CMLS, CORT, CPST, CSOD, CTCT, CUBE, CYBR, CYTX, DATA, DIOD, DIS, DMD, DWA, EAC, EBS, ECOM, ECPG, ED, EFC, EGN, EGOV, ELON, EOG, ERII, EVC, EXAR, FICO, FNGN, FTEK, FXCM, GDOT, GERN, GLUU, GSAT, GSM, GST, GXP, HAIN, HBM, HE, HK, HNSN, HTGC, ICUI, INAP, INFI, INWK, IRG, JJSF, KHC, KTOS, LBTYA, LNT, MAIN, MASI, MDRX, MDVN, MED, MHK, MITK, MNST, MRC, MSCC, MTD, NEWR, NFG, NKTR, NVDA, OLED, ONTY, OREX, OUT, PCTY, PETX, PKI, PLT, PODD, PRAA, PRO, PXLW, QRVO, RATE, RBA, RLYP, RMAX, RPTP, RRMS, RRTS, SEMG, SHAK, SKUL, SLH, SNAK, SREV, SSRI, STMP, SWIR, SWKS, TCRD, TCX, TEAR, TNGO, TRIP, TRMR, TRQ, TRUE, TTWO, UBNT, UEPS, VRNS, VVC, WAGE, WG, WIFI, WTW, XOMA, YUME
Thu, Aug. 6, 6:55 PM
- EOG Resources (NYSE:EOG) -0.3% AH after Q2 earnings beat low estimates, but its $5.3M profit is 99% less than the $706M earned in the year-ago quarter and $2.47B in revenues is 40% lower than a year earlier before oil prices plummeted.
- EOG says it is maintaining FY 2015 oil production guidance and reducing full-year capital spending guidance by $200M, and will refrain from growing oil production into an over-supplied market, even though Chairman/CEO Bill Thomas says the company is set up to profit in a $50/bbl oil environment.
- EOG highlights its performance in the Bakken and Three Forks plays, where it increased its net resource potential to 1B boe from 400M and grew its total net wells to 1,540 from 580.
- Says it completed an industry record Bakken well using enhanced high-density completion techniques, coming on line producing 3,395 bbl/day of oil and 6M cf/day of natural gas.
Thu, Aug. 6, 4:45 PM
Wed, Aug. 5, 5:35 PM
- ABTL, ACAD, AHT, AIRM, AL, ALEX, ALNY, AMBR, AMRN, AMRS, ANAC, ANAD, ANET, ASEI, ASYS, ATHX, BBG, BEAT, BIO, BITA, BOJA, BRKS, BRS, CECO, CENX, CERS, CLVS, CPST, CSOD, CUB, CUBE, CVT, CYTX, DIOD, DMD, DRYS, EAC, ED, EFC, EGN, EGOV, EGY, ELON, EOG, ERII, ESPR, EVC, FLDM, FLTX, FPRX, FXCM, FXEN, GALE, GEOS, GNMK, GSBD, GXP, HNSN, HTGC, HUBS, IMI, IMPV, INWK, IRG, JMBA, KTOS, LGF, MAIN, MDVN, MHK, MNST, NDLS, NEWR, NFG, NPTN, NUAN, NUS, NVDA, OLED, ONTY, ORIG, OSTK, OUT, PACD, PETX, PLNR, PODD, POST, PRO, RBA, RBCN, RIGP, RJET, RMAX, RPTP, RRMS, SAAS, SEM, SEMG, SFM, SHO, SKUL, SPPI, SRC, SREV, SSRI, STMP, SWIR, TCRD, TCX, TEAR, TNGO, TPC, TRMR, TRUE, TRXC, TSRO, TWOU, UBNT, VRNS, VSAT, WAIR, WIFI, WING, XOMA, XOXO, ZNGA
Mon, May 4, 6:57 PM
- EOG Resources (NYSE:EOG) -0.9% AH after reporting better than expected Q1 earnings but lower than expected revenues, as lower commodity prices more than offset increased liquids production volumes, higher cash settlements from hedges and lower operating expenses.
- EOG says its capital spending plan remains on schedule to post a 40% Y/Y decrease in 2015, even though Q1 capex exceeded discretionary cash flow by $486M due to low commodity prices and service contract commitments.
- Says overall Q1 production volumes rose 8% Y/Y to 589.5K boe/day, driven by gains in the Eagle Ford shale and Delaware basin plays; says it will begin to increase well completions in Q3 if prices continue to improve, which would produce a "U" shaped production profile in 2015.
Mon, May 4, 4:24 PM
Sun, May 3, 5:35 PM
- ADEP, AEGR, AEIS, APC, APU, ATEN, BALT, BBRG, BKH, CAR, CDE, CGNX, CHUY, CKEC, CXO, DENN, DNB, DVA, ECOM, EGOV, ELNK, ENH, EOG, EOX, FBP, FN, FNF, HIL, IDTI, IM, ININ, INN, INVN, IRG, ITRI, KS, LMNX, LSCC, MATX, MCEP, MDU, MERU, MIC, MUSA, NLS, NUVA, ONDK, OTTR, PACD, PLOW, PPS, PQ, PTCT, QLYS, RAIL, RGR, ROSE, RWT, SGY, SHO, SNHY, STAG, THC, TXRH, UGI, VNO, XEC, XPO
Wed, Feb. 18, 6:46 PM
- EOG Resources (NYSE:EOG) -6.5% AH after Q4 earnings fell sharply from the prior-year quarter and badly missed Wall Street estimates.
- The drop in profits came despite a 26% Y/Y increase in crude and condensate production during Q4 to 307.7M bbl/day.
- EOG also says it will cut its capital budget by ~40% to $4.9B-$5.1B this year, and will delay a “significant” number of well completions as part of a strategy to increase its net present value while capitalizing on future commodity price increases.
- EOG says it plans to complete fewer wells in the Eagle Ford and the Bakken in 2015 than in 2014, but it expects 95 net well completions in the Permian Basin, a 53% increase over last year’s total.
Wed, Feb. 18, 5:13 PM
Tue, Feb. 17, 5:35 PM
- ABX, ACT, AMTG, ARII, ARRS, ASGN, AVG, AXLL, BGS, BJRI, CAR, CDE, CSLT, CVG, CW, CYNI, DENN, DTLK, ELNK, EOG, EQC, ETE, ETP, EXAM, FNF, HSTM, HT, IAG, IPI, KEG, KEYW, LHO, LOPE, MANT, MAR, MHLD, MIC, MRO, NVMI, OGS, OIS, PAAS, PCYC, PKD, REXX, RGP, SBRA, SCTY, SIX, SNPS, SSS, STR, SUN, SUNE, SXL, TERP, THRX, TILE, TRN, TS, UAM, WES, WGP, WMB, WPZ, XPO, YUME
Nov. 4, 2014, 5:16 PM
- In addition to beating Q3 estimates, EOG Resources is hiking its full-year crude oil/condensate production growth target to 31% from 29%. The full-year total production growth target has been hiked to 16.5% from 14%.
- U.S. crude oil/condensate production grew 29% Y/Y in Q3 thanks to "production gains from the South Texas Eagle Ford, North Dakota Bakken and Delaware Basin."
- To deal with falling oil prices, EOG has "crude oil financial price swap contracts in place for 192,000 Bopd at a weighted average price of $96.15 per barrel' for the period lasting from Nov. 1-Dec. 31.
- For 2015, EOG has "crude oil financial price swap contracts in place for an average of 28,350 Bopd at a weighted average price of $91.00 per barrel, excluding unexercised options."
- Q3 results, PR
Nov. 4, 2014, 5:06 PM
Nov. 3, 2014, 5:30 PM
- AER, AFSI, AKS, ALLT, ARCC, ARCO, ARRY, ATRO, AYR, BABA, BDX, BKW, BLMN, CCG, CIE, CLDT, CONE, CVS, DISCA, DISH, DWRE, DX, EL, EMR, ENBL, EOG, ETR, EXH, EXLP, EXPD, FE, GDP, GLT, HCLP, HCN, HCP, HEP, HMSY, HPT, HSNI, HW, ICE, IFF, IMN, IP, IPXL, IRC, IRWD, KORS, LINC, LINE, LNCE, MFA, MSI, MWW, NCT, NGLS, NNN, NTI, NWN, ODP, OZM, PCLN, PPL, RBA, REGN, RESI, RGS, RHP, RIGL, RRGB, SC, SGNT, SRE, TESO, TGH, TICC, TIME, TLM, TRP, VLO, VMC, VSI, WLK, WNR, WRES, ZBRA, ZTS
Aug. 5, 2014, 6:25 PM
- EOG Resources (NYSE:EOG) +0.3% AH after reporting better than expected Q2 earnings thanks to higher oil production and prices.
- EOG's total Q2 production rose 17% Y/Y to 591K boe; U.S. crude oil and condensate production rose 33%, driven by gains in the Eagle Ford and Bakken shale plays, while natural gas liquids production climbed 22% Y/Y, driven by the Eagle Ford and Permian Basin.
- EOG raises its FY 2014 production growth estimate to 14% from a previous 12%, and targets 29% crude oil production growth for the year; sees 2014 capex of $8.1B-$8.3B, unchanged from prior estimates.
- Raises its quarterly dividend by 34% to 16.8 cents.
Other News & PR