EOG Resources Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>EOG Resources Inc. filed its 2023 10-K report detailing its financial performance and operations.</b>

AI Summary

EOG RESOURCES INC (EOG) filed a Annual Report (10-K) with the SEC on February 22, 2024. EOG Resources Inc. reported its 2023 fiscal year results on February 22, 2024. The company is engaged in the exploration and production of crude oil and natural gas. The filing covers the fiscal year ending December 31, 2023. EOG Resources Inc. is incorporated in Delaware. The company's principal executive offices are located in Houston, Texas.

Why It Matters

For investors and stakeholders tracking EOG RESOURCES INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of EOG's financial health, operational activities, and strategic positioning in the energy sector for the fiscal year 2023. Investors and analysts can use this report to assess the company's performance, understand its reserves, production levels, and identify potential risks and opportunities moving forward.

Risk Assessment

Risk Level: medium — EOG RESOURCES INC shows moderate risk based on this filing. The company operates in the volatile oil and gas industry, which is subject to significant price fluctuations and regulatory changes, as indicated by the extensive data on production and reserves.

Analyst Insight

Review EOG's production volumes and reserve data for oil and natural gas to understand their resource base and future output potential.

Key Numbers

• 20231231 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 2024-02-22 — Filing Date (FILED AS OF DATE)
• 124 — Public Document Count (PUBLIC DOCUMENT COUNT)
• 001-09743 — SEC File Number (SEC FILE NUMBER)

Key Players & Entities

• EOG RESOURCES INC (company) — FILER
• 0000821189 (company) — CENTRAL INDEX KEY
• 1311 (company) — STANDARD INDUSTRIAL CLASSIFICATION
• DE (company) — STATE OF INCORPORATION
• 7136517000 (company) — BUSINESS PHONE
• ENRON OIL & GAS CO (company) — FORMER COMPANY
• 19920703 (company) — DATE OF NAME CHANGE
• 2024-02-22 (date) — FILED AS OF DATE

FAQ

Industry Context

EOG Resources Inc. operates within the crude petroleum and natural gas industry, focusing on exploration and production activities.

Regulatory Implications

The company is subject to regulations governing the oil and gas sector, including environmental and operational standards.

What Investors Should Do

1. Analyze EOG's production data for oil and natural gas for the fiscal year 2023.
2. Review any disclosed financial statements or key financial metrics within the full 10-K document.
3. Examine the company's business description and risk factors for insights into its operational strategy and market challenges.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-22: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This filing is the annual report for the fiscal year ended December 31, 2023, providing a comprehensive update compared to previous filings.

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share EOG New York Stock Exchange
• $0.76 — Includes positive revenue adjustment of $0.76 per Mcf ($0.09 per Mcf of EOG's composi
• $0.09 — ve revenue adjustment of $0.76 per Mcf ($0.09 per Mcf of EOG's composite wellhead nat

Filing Documents

• eog-20231231.htm (10-K) — 3114KB
• exh102d20231231.htm (EX-10.2D) — 33KB
• exh102g20231231.htm (EX-10.2G) — 34KB
• exh102m20231231.htm (EX-10.2M) — 85KB
• exh102n20231231.htm (EX-10.2N) — 86KB
• exh102o20231231.htm (EX-10.2O) — 86KB
• exh101020231231.htm (EX-10.10) — 76KB
• exh1012c20231231.htm (EX-10.12C) — 27KB
• exh2120231231.htm (EX-21) — 29KB
• exh23120231231.htm (EX-23.1) — 4KB
• exh23220231231.htm (EX-23.2) — 2KB
• exh2420231231.htm (EX-24) — 23KB
• exh31120231231.htm (EX-31.1) — 9KB
• exh31220231231.htm (EX-31.2) — 9KB
• exh32120231231.htm (EX-32.1) — 3KB
• exh32220231231.htm (EX-32.2) — 3KB
• exh9720231231.htm (EX-97) — 40KB
• exh99120231231.htm (EX-99.1) — 70KB
• eog-20231231_g1.jpg (GRAPHIC) — 77KB
• image_0a.jpg (GRAPHIC) — 0KB
• image_0b.jpg (GRAPHIC) — 5KB
• 0000821189-24-000011.txt (&nbsp;) — 13688KB
• eog-20231231.xsd (EX-101.SCH) — 85KB
• eog-20231231_cal.xml (EX-101.CAL) — 101KB
• eog-20231231_def.xml (EX-101.DEF) — 364KB
• eog-20231231_lab.xml (EX-101.LAB) — 1053KB
• eog-20231231_pre.xml (EX-101.PRE) — 664KB
• eog-20231231_htm.xml (XML) — 2050KB

Business 1

ITEM 1. Business 1 General 1 Exploration and Production 1 Marketing 4 Wellhead Volumes and Prices 5 Human Capital Management 6 Competition 7 Regulation 7 Other Matters 12 Information About Our Executive Officers 13

Risk Factors 15

ITEM 1A. Risk Factors 15

Unresolved Staff Comments 29

ITEM 1B. Unresolved Staff Comments 29

Cybersecurity 29

ITEM 1C. Cybersecurity 29

Properties 30

ITEM 2. Properties 30 Oil and Gas Exploration and Production - Properties and Reserves 30

Legal Proceedings 33

ITEM 3. Legal Proceedings 33

Mine Safety Disclosures 33

ITEM 4. Mine Safety Disclosures 33 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

ITEM 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 34

Management's Discussion and Analysis of Financial Condition and Results of Operations 36

ITEM 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 36

Quantitative and Qualitative Disclosures About Market Risk 53

ITEM 7A. Quantitative and Qualitative Disclosures About Market Risk 53

Financial Statements and Supplementary Data 53

ITEM 8. Financial Statements and Supplementary Data 53

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 53

ITEM 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 53

Controls and Procedures 53

ITEM 9A. Controls and Procedures 53

Other Information 53

ITEM 9B. Other Information 53

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 53

ITEM 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 53 PART III

Directors, Executive Officers and Corporate Governance 54

ITEM 10. Directors, Executive Officers and Corporate Governance 54

Executive Compensation 54

ITEM 11. Executive Compensation 54

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

ITEM 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 54

Certain Relationships and Related Transactions, and Director Independence 56

ITEM 13. Certain Relationships and Related Transactions, and Director Independence 56

Principal Accounting Fees and Services 56

ITEM 14. Principal Accounting Fees and Services 56 PART IV

Exhibit and Financial Statement Schedules 56

ITEM 15. Exhibit and Financial Statement Schedules 56

Form 10-K Summary 56

ITEM 16. Form 10-K Summary 56

SIGNATURES

SIGNATURES (i) PART I

Business

ITEM 1. Business General EOG Resources, Inc., a Delaware corporation organized in 1985, together with its subsidiaries (collectively, EOG), explores for, develops, produces and markets crude oil, natural gas liquids (NGLs) and natural gas primarily in major producing basins in the United States of America (United States or U.S.), the Republic of Trinidad and Tobago (Trinidad) and, from time to time, select other international areas. EOG's principal producing areas are further described in "Exploration and Production" below. EOG's Annual Reports on Form 10-K, Quarterly Reports on Form 10Q, Current Reports on Form 8-K and any amendments to those reports (including related exhibits and supplemental schedules) filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (as amended) are made available, free of charge, through EOG's website, as soon as reasonably practicable after such reports have been filed with, or furnished to, the United States Securities and Exchange Commission (SEC). EOG's website address is www.eogresources.com. Information on our website is not incorporated by reference into, and does not constitute a part of, this report. At December 31, 2023, EOG's total estimated net proved reserves were 4,498 million barrels of oil equivalent (MMBoe), of which 1,756 million barrels (MMBbl) were crude oil and condensate reserves, 1,254 MMBbl were NGLs reserves and 8,930 billion cubic feet (Bcf), or 1,488 MMBoe, were natural gas reserves (see "Supplemental Information to Consolidated Financial Statements"). At such date, approximately 99% of EOG's net proved reserves, on a crude oil equivalent basis, were located in the United States and 1% in Trinidad. Crude oil equivalent volumes are determined using a ratio of 1.0 barrel of crude oil and condensate or NGLs to 6.0 thousand cubic feet (Mcf) of natural gas. EOG's operations are all crude oil and natural gas exploration and production related. For information regarding th

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View this 10-K filing on SEC EDGAR