EOG Resources, Inc. (NYSE:EOG) is a prominent player in the oil and gas exploration and production industry in the United States. The company is known for its significant contributions to the energy sector, focusing on the exploration, development, production, and marketing of crude oil, natural gas, and natural gas liquids. EOG competes with other major industry players like ExxonMobil and Chevron.
On February 28, 2025, EOG reported earnings per share (EPS) of $2.74, exceeding the estimated $2.55. This represents an earnings surprise of 7.45%, as highlighted by Zacks. However, this EPS is a decline from the previous year's $3.07 per share. Despite the earnings beat, EOG's revenue of $5.59 billion fell short of the estimated $5.96 billion and was lower than the $6.36 billion reported in the same quarter the previous year.
The better-than-expected earnings were driven by a 6.8% increase in oil-equivalent production volumes, reaching 100.8 million barrels of oil equivalent. However, this was partially offset by decreased realizations for crude oil, condensates, and natural gas prices. EOG's total quarterly revenues of $5.59 billion missed the Zacks Consensus Estimate by 5.05%, reflecting challenges in the pricing environment.
For the full year 2024, EOG generated $5.4 billion in free cash flow and returned $5.3 billion to shareholders. The company successfully replaced 201% of its 2024 production at a finding and development cost of $7.03 per barrel of oil equivalent (Boe) under GAAP, and $6.68 per Boe under non-GAAP measures. EOG's capital plan for 2025 remains undisclosed, but the company continues to focus on shareholder returns and operational efficiency.
