# EOG Resources, Inc. (EOG) - Recent Events

## Filings that contain financial statements

Each earnings Form 8-K below furnishes an Exhibit 99.1 press release with supplemental tables: quarterly income statements, balance sheets, cash flow statements and volume and price data, laid out by quarter for the prior and current year. Dollar amounts are in millions of US dollars.

- Form 8-K filed November 5, 2026 (accession 0000821189-26-000226): third quarter 2026 results, with 2025 quarters and 2026 first through third quarters, plus 2026 year-to-date totals. Income statement, balance sheet (March, June and September 2026 and the 2025 quarter-ends), cash flow statement, and non-GAAP reconciliations.
- Form 8-K filed August 4, 2026 (accession 0000821189-26-000147): second quarter 2026 results, same table set.
- Form 8-K filed May 5, 2026 (accession 0000821189-26-000102): first quarter 2026 results, same table set.
- Form 8-K filed February 24, 2026 (accession 0000821189-26-000052): fourth quarter and full year 2025 results, same table set, plus reserves information.
- Form 8-K filed November 6, 2025 (accession 0000821189-25-000129): third quarter 2025 results, same table set.

## Earnings

- **November 5, 2026 - third quarter 2026 results (0000821189-26-000226).** Net income was $2,781 million, or $5.33 per diluted share, on total operating revenues and other of $8,549 million. Adjusted net income (non-GAAP) was $2,540 million, or $4.87 per diluted share. Net income in the second quarter of 2026 was $2,724 million ($5.15 per diluted share); in the third quarter of 2025 it was $1,471 million ($2.70).
  - Net cash provided by operating activities was $3,813 million; free cash flow (non-GAAP) was $2,176 million after total capital expenditures (non-GAAP) of $1,597 million.
  - Production averaged 1,433.1 thousand barrels of oil equivalent per day, including 550.4 thousand barrels per day of crude oil and condensate. The composite crude oil price was $86.72 per barrel and the composite natural gas price was $3.74 per Mcf.
  - Operating income included $242 million of net gains on asset dispositions (see divestitures below).
  - Cash was $5,747 million at September 30, 2026, against current and long-term debt of $7,922 million; net debt (non-GAAP) was $2,175 million, a net debt-to-total capitalization ratio of 6.2%, down from 12.1% a year earlier.
  - Treasury stock purchases were $1,063 million and dividends paid were $544 million in the quarter.
  - The filing also states that it accompanies fourth quarter and full year 2026 forecast and benchmark commodity pricing information (Item 7.01). The forecast figures are not reproduced here.
- **August 4, 2026 - second quarter 2026 results (0000821189-26-000147).** Net income was $2,724 million ($5.15 per diluted share), per the comparative columns of the November 5, 2026 release. Third quarter 2026 current tax expense was guided at $545 million to $645 million; this was later raised (see below).
- **May 5, 2026 (0000821189-26-000102)** and **February 24, 2026 (0000821189-26-000052)** furnished first quarter 2026 and fourth quarter 2025 results. The first quarter 2026 net income was $1,980 million ($3.70 per diluted share). Fourth quarter 2025 net income was $701 million ($1.30), reduced by impairments of $689 million of which $646 million was treated as certain impairments in adjusted net income.

## Guidance updates

- **April 9, 2026 (0000821189-26-000078).** EOG raised its first quarter 2026 current tax expense forecast to $500 million - $600 million from $230 million - $330 million, citing higher realized crude oil prices from the conflict in the Middle East. No other guidance ranges were updated or confirmed.
- **October 8, 2026 (0000821189-26-000202).** EOG raised its third quarter 2026 current tax expense forecast to $835 million - $935 million from $545 million - $645 million, again citing higher crude oil prices. It reported net cash of $40 million received on financial commodity derivative settlements in the quarter and a WTI quarterly average of $85.68 per barrel (Henry Hub $2.95 per MMBtu). No other guidance ranges were updated or confirmed.
- Routine pre-earnings price-risk updates were also filed on July 9, 2026 (0000821189-26-000140; second quarter WTI average $92.85 per barrel, Henry Hub $2.89, $45 million net cash received on derivative settlements), January 12, 2026 (0000821189-26-000012; fourth quarter 2025 WTI average $59.17, Henry Hub $3.55, $21 million net cash paid) and October 8, 2025 (0000821189-25-000101).

## Capital returns

- **Share repurchase authorization raised to $20 billion (Form 8-K filed May 21, 2026, 0000821189-26-000107).** Effective May 20, 2026, the Board increased the authorization from $10 billion to $20 billion, additive to the amount remaining. As of March 31, 2026, EOG had repurchased approximately 59.4 million shares for about $7.1 billion under the authorization, with about $2.9 billion remaining.
- **Annual meeting, May 20, 2026 (0000821189-26-000107, Item 5.07).** Nine directors were elected; 535,715,814 shares were entitled to vote at the March 23, 2026 record date.
- **Dividend increase.** The Form 10-Q for the quarter ended September 30, 2026 (accession 0000821189-26-000227) states that on November 5, 2026 the Board raised the quarterly cash dividend from $1.02 to $1.10 per share, beginning with the dividend payable January 29, 2027 to holders of record on January 15, 2027.

## Divestitures

- **Barnett Shale and Woodford Oil Window sales (closed).** The 10-Q for the quarter ended September 30, 2026 (0000821189-26-000227) says EOG signed a purchase and sale agreement in July 2026 to sell its entire Barnett Shale interest for $220 million, which closed September 15, 2026, and signed one in September 2026 to sell its entire Woodford Oil Window interest for $180 million, which closed October 19, 2026. Production attributable to the two assets was about 16 thousand barrels of oil equivalent per day in the third quarter of 2026. For the nine months ended September 30, 2026 the 10-Q reports $394 million of asset sale proceeds (including the northern Midland Basin sale) and $331 million of net gains on dispositions. None of these sales was announced in a separate Form 8-K in the period reviewed; they appear in the 10-Q and the earnings release's disposition gains.
- **Northern Midland Basin sale (closed).** The Form 10-K for 2025 (0000821189-26-000054) says EOG signed a purchase and sale agreement in January 2026 to sell its entire interest and related fixed assets in the northern Midland Basin for $165 million, subject to customary closing adjustments, and that the transaction closed on February 18, 2026. Crude oil production attributable to the interest was approximately 4 thousand barrels per day for the quarter ended December 31, 2025.

## Debt and liquidity

- **November 24, 2025 - $1.0 billion senior notes completed (0001193125-25-293868).** EOG completed an underwritten offering of $750 million of 4.400% Senior Notes due 2031 and $250 million of additional 5.950% Senior Notes due 2055 (a tap of the $500 million of 2055 notes issued July 1, 2025). Proceeds were intended in part to repay or redeem the 4.15% Senior Notes due 2026.
- **December 3, 2025 - new $3.0 billion revolving credit facility (Form 8-K filed December 8, 2025, 0001193125-25-311346).** The five-year facility matures December 3, 2030 (two one-year extension options), with an option to increase commitments to $4.0 billion and a covenant limiting total debt to total capitalization to 65%. It replaced the $1.9 billion facility dated June 7, 2023 (maturity June 2028), which was terminated without penalty.

## Management and board

- **September 24, 2026 - CFO succession (0001193125-26-400333).** Chief Financial Officer Ann D. Janssen informed the Board on September 23, 2026 that she will retire; her last day as CFO is December 31, 2026, after which she will serve as an advisor. The Board appointed Jeffrey W. Hibbard, 44, Senior Vice President, Finance since August 2025 and formerly a Morgan Stanley managing director in its Global Energy Group, as Executive Vice President and CFO effective January 1, 2027.
- **Same filing - equity award change.** On September 22, 2026 the Compensation Committee amended future restricted stock and RSU grants to vest ratably over three years instead of cliff vesting at three years, beginning with grants effective September 25, 2026.
- **December 10, 2025 - new director (0001193125-25-315185).** John D. Chandler, former Chief Financial Officer of The Williams Companies, was appointed to the Board and its Audit Committee.

## Not reflected in the filings reviewed

- No merger or acquisition signing or closing was announced in the 8-Ks reviewed for this period. The Encino Acquisition Partners purchase from 2025 appears only as prior-period cash flow and acquisition-cost items in the earnings tables.
- No stock split, going-concern, covenant or material legal item appeared in the 8-Ks reviewed.