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
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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
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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.
Aug. 5, 2014, 5:09 PM
Aug. 4, 2014, 5:35 PM
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May. 6, 2014, 8:15 AM
- EOG Resources (EOG) +3.2% premarket after reporting Q1 earnings rose 34% Y/Y and revenues that easily beat analyst estimates, benefiting from increased production.
- EOG's total crude oil and condensate production during Q1 gained 42%, including growth of 45% in the U.S.; overall total company production increased 18%, led by a 37% increase in total liquids production.
- Raised its 2014 crude oil and condensate production growth target to 29% from 27%, and raised its total production growth target for the year to 12% from 11.5%.
May. 5, 2014, 6:17 PM
May. 4, 2014, 5:35 PM
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Feb. 25, 2014, 12:05 AM
Feb. 24, 2014, 6:20 PM
- EOG Resources (EOG) +1.7% AH after reporting a Q4 profit compared with a year-ago loss when the energy company wrote down the value of some Canadian assets.
- EOG's crude oil and condensate revenue - its biggest contributor to the top line - rose 48% Y/Y; natural gas liquids revenue rose 4.5%, while natural gas revenue fell 1.7%.
- Q4 net operating revenue increased 24% to $3.75B while operating expenses fell 18% to $2.7B.
- Sets 2014 crude oil production growth target at 27% and overall production growth target at 11.5%; 2014 capex planned at $8.1B-$8.3B, and does not plan to allocate capital to North American dry natural gas drilling in 2014.
Feb. 24, 2014, 5:33 PM
Feb. 24, 2014, 5:30 PM
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