EOG Resources' Q3 Earnings Beat Estimates on Production

Core Insights - EOG Resources, Inc. reported third-quarter 2025 adjusted earnings per share of $2.71, exceeding the Zacks Consensus Estimate of $2.43, but down from $2.89 in the same quarter last year [1][8] - Total quarterly revenues were $5.85 billion, missing the Zacks Consensus Estimate of $5.95 billion and declining from $5.97 billion in the prior-year quarter [1][8] Operational Performance - Total production volumes increased by 21% year over year to 119.7 million barrels of oil equivalent (MMBoe), driven by contributions from the Delaware Basin, Eagle Ford, and Utica [4] - Crude oil and condensate production reached 534.5 thousand barrels per day (MBbls/d), an increase of 8.4% from the previous year, surpassing estimates [4] - NGL volumes rose by 21.6% year over year to 309.3 MBbls/d, exceeding estimates [5] - Natural gas volumes increased to 2,745 million cubic feet per day (MMcf/d), up from 1,970 MMcf/d a year earlier, also beating estimates [5] - Average price realization for crude oil and condensates fell by 14.3% year over year to $65.95 per barrel, while natural gas prices improved by nearly 37% to $2.80 per Mcf [5][8] Operating Costs - Lease and well expenses rose to $431 million from $392 million a year ago [6] - Gathering, processing, and transportation costs increased to $587 million from $445 million in the prior year [6] - Total operating expenses for the quarter were $4.01 billion, up from $3.88 billion a year ago [6] Liquidity Position & Capital Expenditure - As of September 30, 2025, EOG had cash and cash equivalents of $3.5 billion and long-term debt of $7.7 billion [7] - The company generated $1.4 billion in free cash flow during the quarter, with capital expenditures amounting to $1.65 billion [7] Guidance - For 2025, EOG expects total production between 1,211.5 to 1,234.4 MBoe/d and anticipates fourth-quarter production of 1,346.4-1,386.3 MBoe/d [9]