EOG Resources(US:EOG) Prnewswireยท2025-05-01 20:15Core Viewpoint - EOG Resources, Inc. reported strong financial results for the first quarter of 2025, highlighting increased revenues, net income, and free cash flow, alongside a proactive capital expenditure plan aimed at optimizing investments and maintaining production levels [1][5][10]. Financial Performance - Total revenue for Q1 2025 was $5.669 billion, an increase from $5.585 billion in Q4 2024 [2]. - Net income reached $1.463 billion, up from $1.251 billion in the previous quarter [2]. - Adjusted net income was $1.586 billion, or $2.87 per share, compared to $1.535 billion, or $2.74 per share in Q4 2024 [2][9]. - Free cash flow generated in the quarter was $1.329 billion, with $538 million returned to shareholders through dividends and $788 million through share repurchases [5][9]. Production and Capital Expenditures - Crude oil and condensate production averaged 502.1 MBod, exceeding guidance and up from 494.6 MBod in Q4 2024 [3][15]. - Total capital expenditures for Q1 2025 were $1.484 billion, with a revised full-year capital plan now expected to range from $5.8 billion to $6.2 billion [10][17]. - The company aims for a 2% growth in oil production and a 5% growth in total production for the year [10]. Operational Highlights - EOG achieved better-than-expected cash operating costs of $10.31 per Boe, slightly higher than $10.15 in Q4 2024 [2][16]. - The company reported successful exploration efforts, including a new oil discovery in Trinidad [11][9]. - EOG's financial position allows for returning over 100% of annual free cash flow in the near term, supporting ongoing shareholder returns [5][6]. Market Context - Crude oil prices increased in Q1 2025, with WTI averaging $71.42 per barrel, compared to $70.28 in Q4 2024 [16]. - Natural gas prices also saw an uptick, with Henry Hub prices averaging $3.66 per Mcf in Q1 2025 [16].