ClaudioVentrella Oil prices are finally making some headway as we approach the end of 2023. WTI peaked about three months ago just shy of $100, but as geopolitical fears ebbed, the bid to oil retreated. A weaker dollar in that span, normally a tailwind, didn't provide much of a Q4 boost. Still, domestic oil prices are significantly off the lows as a new bout of global supply uncertainty makes headlines. This bullish reversal may benefit key domestic oil and gas exploration and production companies. I have a ...

EOG Resources, Inc. Conference Call Summary Company Overview - **Company**: EOG Resources, Inc. (NYSE:EOG) - **Event**: BofA Securities Global Energy Conference - **Date**: November 14, 2023 Key Industry Insights - **Oil and Gas Market Volatility**: EOG acknowledges the volatility in oil and gas prices, with oil prices recently dropping by $20 and gas prices fluctuating significantly. The company emphasizes the importance of being a low-cost operator to navigate these fluctuations effectively [3][4][6]. - **Long-term Outlook**: EOG maintains a bullish long-term view on both oil and natural gas, highlighting the necessity for continued investment in the sector despite the ongoing energy transition discussions [8][9]. Financial Metrics and Strategy - **Breakeven and Returns**: EOG operates with a premium price deck of $40 for oil and $2.50 for natural gas, aiming for a 30% direct after-tax rate of return. The company focuses on reducing breakeven costs and achieving margin expansion [5][46]. - **Investment Philosophy**: The company prioritizes high returns over growth, investing in projects that can consistently improve returns year over year [4][5]. Exploration and Development - **Gas Portfolio Shift**: EOG is pivoting towards gas development, particularly in the Dorado and Utica plays, while still focusing on oil due to better margins [7][10]. - **Dorado Play**: This natural gas play in South Texas is expected to be significant for North America's LNG future. EOG has invested in infrastructure to reduce transportation costs, enhancing competitiveness [12][14][15]. - **Utica Play**: EOG is revisiting the Utica with modern fracking technology, having previously explored it without success. The company is optimistic about the potential for improved recovery rates using new techniques [16][18][21]. Operational Efficiency - **Decentralized Operations**: EOG emphasizes a decentralized organizational structure, empowering local teams to make decisions based on real-time data, which enhances operational efficiency across its 16 plays in 9 basins [29][30]. - **Technology and Innovation**: Continuous improvement in completion designs and drilling techniques is a focus, with recent advancements leading to a 20% uplift in production rates in the Wolfcamp area [61][62]. M&A Considerations - **M&A Strategy**: EOG is cautious about pursuing M&A opportunities, preferring to focus on organic growth and exploration. The company evaluates potential acquisitions based on their ability to enhance existing returns rather than simply adding production [32][33][34]. Inventory and Future Outlook - **Resource Base**: EOG claims to have approximately 10 billion barrels of equivalent resources with a finding and development cost of less than $10 per BOE, providing a 30-year production outlook at current rates [47][48]. - **Double Premium Strategy**: The company has set a target of achieving a double premium return of 60% at the $40 oil and $2.50 natural gas price deck, reflecting a commitment to high-return projects [46][50]. Conclusion EOG Resources, Inc. is strategically positioned to navigate the volatile oil and gas market through a focus on low-cost operations, innovative technology, and a diversified portfolio. The company's commitment to organic growth and operational efficiency, combined with a cautious approach to M&A, underscores its long-term vision for sustainable returns in the energy sector.

(1) LOE, Transportation, Gathering & Processing, G&A (non-GAAP), DD&A and Total Exploration Costs. See slide 11 of Supplemental Presentation and accompanying reconciliation schedules for related data. (2) 2014-2022 Average Realized Price of $62.23 for Oil, $3.21 for Natural Gas and $23.41 for NGLs. Premium Drilling $86 $42 (1) ROCE, a non-GAAP measure, defined and reconciled in accompanying schedules. Does not include the impact of derivative contracts. (2) Calculated using $3.42 Henry Hub Natural Gas Price ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 1-9743 EOG RESOURCES, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 47-0684 ...

2Q 2023 Regular Dividend is a $1.9 Bn Annual Cash Return Commitment to Shareholders $3.30 1 5 - 10+ Years of Double Premium Drilling Inventory6 with 60%+ Direct ATROR3,5 @ Flat $40 Oil and $2.50 Natural Gas - 10 Bn Boe1 of < $10/Boe Resource Across EOG's Multi-Basin Portfolio Premium Resource Potential (Billion BOE)1 (1) Resource potential net to EOG, not proved reserves. (2) ROCE, a non-GAAP measure, defined and reconciled in accompanying schedules. (3) See accompanying schedules for reconciliations and de ...

or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 1-9743 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 Delaware 47-0684736 (I.R.S. Employer Identification No.) 1111 Bagby, Sky Lobby 2, Houston, Texas 77002 (Address of principal executive offices) (Zip Code) 713- ...

1Q 2023 David Streit, Vice President IR (713) 571-4902, dstreit@eogresources.com Neel Panchal, Director IR (713) 571-4884, npanchal@eogresources.com Shelby O'Connor, Manager IR (713) 571-4560, soconnor@eogresources.com | --- | --- | --- | --- | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------|---------------------------------------------------------------- ...

EOG Resources, Inc. (NYSE:EOG) Q1 2023 Earnings Conference Call May 5, 2023 10:00 AM ET Company Participants Tim Driggers - Chief Financial Officer Ezra Yacob - Chairman and CEO Billy Helms - President and COO Ken Boedeker - Executive Vice President, Exploration and Production Jeff Leitzell - Executive Vice President, Exploration and Production Lance Terveen - Senior Vice President, Marketing David Streit - Vice President, Investor Relations Conference Call Participants Paul Cheng - Scotiabank Leo Mariani - ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 1-9743 EOG RESOURCES, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 47-0684736 ...

EOG Resources, Inc. (NYSE:EOG) Q4 2022 Results Conference Call February 24, 2023 10:00 AM ET Company Participants Tim Driggers - Chief Financial Officer Ezra Yacob - Chairman and Chief Executive Officer Billy Helms - President and Chief Operating Officer Ken Boedeker - EVP, Exploration and Production Jeff Leitzell - EVP, Exploration for Lance Terveen - SVP, Marketing David Streit - VP, Investor Relations Conference Call Participants Paul Cheng - Scotiabank Arun Jayaram - JPMorgan Doug Leggate - Bank of Amer ...