EOG Sees Stronger Results Quarter on Quarter

EOG Resources Inc. (EOG) has reported a net income of $1.46 billion and a revenue of $5.67 billion for the first quarter of 2025.

Q1 2025 net profit was below the $1.79 billion logged for the corresponding quarter in 2024 but above the $1.25 billion recorded for Q4 2024. Revenue fell from $6.12 billion for Q1 2024 but increased from $1.25 billion for Q4 2024.

“Results were driven by solid execution across both foundational and emerging plays”, said chairman and chief executive officer Ezra Yacob. "The company's financial position provides EOG the ability to return greater than 100 percent of annual free cash flow in the near term. Strong operating results generated $1.3 billion of free cash flow in the quarter. EOG returned $1.3 billion to shareholders through $538 million in regular dividends and $788 million of share repurchases”.

Production was 1.09 million barrels of oil equivalent per day, stable by both sequential and prior-year comparisons. Crude oil and condensate production was at 502,100 barrels per day (bpd), above the 494,600 bpd reported for Q4 2024 and 487,400 bpd for Q1 2024. Natural gas production was steady quarter-on-quarter and higher year-on-year.

The company said it now anticipates total capital expenditures for 2025 to be between $5.8 billion and $6.2 billion, reflecting a $200 million decrease from its previous forecast. It aims to sustain oil production at the levels seen in the first quarter of 2025 for the rest of the year, representing a 2 percent increase in full-year oil production and 5 percent growth in total production.

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