EOG Resources Q2 2024 Production & Reserves Update

TL;DR

EOG Resources Q2 2024: Production and reserves data for oil, gas, and NGLs released. Check the details.

AI Summary

EOG Resources Inc. reported its second quarter 2024 results, ending June 30, 2024. The company's filing details production and reserve data for oil, condensate, natural gas liquids, and natural gas for the quarters ending June 30, 2024, and June 30, 2023, as well as year-to-date figures for 2024 and 2023. Specific financial figures and dollar amounts are not detailed in this excerpt.

Why It Matters

This filing provides key operational data for EOG Resources, a major oil and gas producer, impacting investor understanding of their production capacity and resource base.

Risk Assessment

Risk Level: medium — The energy sector is subject to volatile commodity prices and regulatory changes, which can significantly impact a company's financial performance.

Key Numbers

• Q2 2024 — Quarterly Period (Reporting period for production and reserves data.)
• Q2 2023 — Quarterly Period (Comparative period for production and reserves data.)
• Year-to-Date 2024 — Period (Reporting period for production and reserves data.)
• Year-to-Date 2023 — Period (Comparative period for production and reserves data.)

Key Players & Entities

• EOG RESOURCES INC (company) — Filer
• 20240630 (date) — Reporting Period End Date
• 20240801 (date) — Filing Date
• 7136517000 (dollar_amount) — Business Phone Number

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share EOG New York Stock Exchange

Filing Documents

• eog-20240630.htm (10-Q) — 1178KB
• exh10_1q224.htm (EX-10.1) — 15KB
• exh31_1q224.htm (EX-31.1) — 9KB
• exh31_2q224.htm (EX-31.2) — 9KB
• exh32_1q224.htm (EX-32.1) — 3KB
• exh32_2q224.htm (EX-32.2) — 3KB
• 0000821189-24-000031.txt ( ) — 6179KB
• eog-20240630.xsd (EX-101.SCH) — 41KB
• eog-20240630_cal.xml (EX-101.CAL) — 58KB
• eog-20240630_def.xml (EX-101.DEF) — 218KB
• eog-20240630_lab.xml (EX-101.LAB) — 593KB
• eog-20240630_pre.xml (EX-101.PRE) — 412KB
• eog-20240630_htm.xml (XML) — 808KB

FINANCIAL INFORMATION Page No

PART I. FINANCIAL INFORMATION Page No.

Financial Statements (Unaudited)

ITEM 1. Financial Statements (Unaudited) Condensed Consolidated Statements of Income and Comprehensive Income - Three Months and Six Months Ended June 30, 2024 and 2023 3 Condensed Consolidated Balance Sheets - June 30, 2024 and December 31, 2023 4 Condensed Consolidated Statements of Stockholders' Equity - Three Months and Six Months Ended June 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows - Six Months Ended June 30, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements 8

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

ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 20

Quantitative and Qualitative Disclosures About Market Risk

ITEM 3. Quantitative and Qualitative Disclosures About Market Risk 40

Controls and Procedures

ITEM 4. Controls and Procedures 40

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

ITEM 1. Legal Proceedings 41

Unregistered Sales of Equity Securities and Use of Proceeds

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 41

Other Information

ITEM 5. Other Information 42

Exhibits

ITEM 6. Exhibits 43

SIGNATURES

SIGNATURES 45 -2-

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS EOG RESOURCES, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (In Millions, Except Per Share Data) (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating Revenues and Other Crude Oil and Condensate $ 3,692 $ 3,252 $ 7,172 $ 6,434 Natural Gas Liquids 515 409 1,028 899 Natural Gas 303 334 685 851 Gains (Losses) on Mark-to-Market Financial Commodity and Other Derivative Contracts ( 47 ) 101 190 477 Gathering, Processing and Marketing 1,519 1,465 2,978 2,855 Gains (Losses) on Asset Dispositions, Net 20 ( 9 ) 46 60 Other, Net 23 21 49 41 Total 6,025 5,573 12,148 11,617 Operating Expenses Lease and Well 390 348 786 707 Gathering, Processing and Transportation Costs 423 396 836 791 Exploration Costs 34 47 79 97 Dry Hole Costs 5 — 6 1 Impairments 81 35 100 69 Marketing Costs 1,490 1,456 2,894 2,817 Depreciation, Depletion and Amortization 984 866 2,058 1,664 General and Administrative 151 142 313 287 Taxes Other Than Income 337 313 675 642 Total 3,895 3,603 7,747 7,075 Operating Income 2,130 1,970 4,401 4,542 Other Income, Net 66 51 128 116 Income Before Interest Expense and Income Taxes 2,196 2,021 4,529 4,658 Interest Expense, Net 36 35 69 77 Income Before Income Taxes 2,160 1,986 4,460 4,581 Income Tax Provision 470 433 981 1,005 Net Income $ 1,690 $ 1,553 $ 3,479 $ 3,576 Net Income Per Share Basic $ 2.97 $ 2.68 $ 6.08 $ 6.14 Diluted $ 2.95 $ 2.66 $ 6.05 $ 6.10 Average Number of Common Shares Basic 569 580 572 582 Diluted 572 584 575 586 Comprehensive Income Net Income $ 1,690 $ 1,553 $ 3,479 $ 3,576 Other Comprehensive Income (Loss) Foreign Currency Translation Adjustments — ( 1 ) 1 ( 1 ) Other Comprehensive Income (Loss) — ( 1 ) 1 ( 1 ) Comprehensive Income $ 1,690 $ 1,552 $ 3,480 $ 3,575 The accompanying notes are an integral part of these condensed consolidated financial statements. -3- EOG RESOURCES, INC. CONDENSED CO

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