$EOG earnings report

This filing is a targeted guidance update rather than a full earnings release. EOG raised its third-quarter 2026 current tax expense expectation to $835 million - $935 million from the $545 million - $645 million range issued with second-quarter results on August 4, 2026. The company attributes the increase to higher crude oil prices realized during the third quarter and anticipated for the full year, citing the ongoing conflict in the Middle East versus its assumptions when it issued prior guidance.

The commodity-price information supports the stated driver but does not provide EOG's realized commodity prices. U.S. NYMEX West Texas Intermediate crude oil averaged $85.68 per barrel for the quarter ended September 30, 2026, while NYMEX Henry Hub natural gas averaged $2.95 per million British thermal units. EOG explicitly notes that its actual crude oil and natural gas realizations differ from these benchmarks because of delivery location, quality and revenue adjustments. NGL realizations also depend on the product mix extracted and individual component pricing.

Price-risk-management activity generated net cash of $40 million from settlements of Financial Commodity Derivative Contracts during the third quarter. The filing states that no cash was received from the Brent Linked Gas Sales Contract because deliveries are expected to commence in January 2027. The document does not disclose derivative gains or losses, the mark-to-market value of contracts, or the actual effect of these arrangements on revenue, earnings or cash flow.

EOG did not update or confirm any other third-quarter 2026 or full-year 2026 guidance ranges included in its August 4, 2026 outlook. As a result, the release gives no updated view on production, capital expenditures, operating costs, revenue, earnings, cash flow, capital returns or balance-sheet items. The central reported change is the substantially higher expected current tax expense, while the balance of the operating and financial outlook remains unaddressed in this filing.

EOG's 2nd Qtr 2026 results showed higher reported revenue, earnings and operating cash flow against both comparison periods presented. Total operating revenues and other were 8,620 million USD, compared with 5,478 million USD in the 2nd Qtr 2025 and 6,921 million USD in the 1st Qtr 2026. Operating income was 3,528 million USD, while net income was 2,724 million USD and diluted net income per share was 5.15.

Crude oil and condensate was the largest revenue line at 4,901 million USD. The composite crude oil and condensate price was $ 98.15, versus $ 64.82 in the 2nd Qtr 2025 and $ 72.47 in the 1st Qtr 2026, while total crude oil equivalent volumes were 1,410.4 MBoed. Gathering, Processing and Marketing revenue was 2,011 million USD. Natural Gas revenue was 812 million USD, below 1,021 million USD in the 1st Qtr 2026, alongside a composite natural gas price of 2.89 versus 3.76 in the 1st Qtr 2026.

Operating expenses were 5,092 million USD. Marketing Costs were 1,950 million USD, Gathering, Processing and Transportation Costs were 676 million USD, and depreciation, depletion and amortization was 1,259 million USD. The income tax provision was 775 million USD and net interest expense was 67 million USD. The filing does not provide a reported gross margin, operating margin, tax rate, or percentage changes for these line items.

Cash generation increased, with net cash provided by operating activities of 4,669 million USD. Additions to oil and gas properties were (1,638) million USD and additions to other property, plant and equipment were (144) million USD. The company paid (540) million USD in dividends and purchased (1,299) million USD of treasury stock. Cash and cash equivalents ended the period at 4,907 million USD, and long-term debt was 7,899 million USD.

No forward guidance was included in the supplied filing text, and no previous outlook was provided for a comparison. The supplied text introduces non-GAAP measures including Adjusted Net Income, Adjusted Cash Flow from Operations, Free Cash Flow and Net Debt, but the associated reconciliation tables and figures were not included.