EOG Resources: Another Strong Production Quarter


Drone view captures a stunning sunset over the Permian Basin, where a fracking drilling oil rig stands tall, symbolizing the intersection of nature and industry

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Part I – Introduction

Houston-based EOG Resources, Inc. (NYSE:EOG) released its second quarter 2023 results on August 3, 2023.

Important note: This article updates my preceding article, published on July 11, 2023. I have followed EOG on Seeking

Production per Region in K Boep/d 2Q22 3Q22 4Q22 1Q23 2Q23
United States of America 886.1 891.6 883.8 915.1 943.9
Trinidad 34.6 27.6 25.3 27.9 26.4
TOTAL 920.7 919.2 909.1 943.0 970.3

EOG Resources 2Q22 3Q22 4Q22 1Q23 2Q23
Total Revenues in $ million 8,645 7,598 6,494 5,579 5,460
Oil Revenues in $ Million 7,407 7,593 6,719 6,044 5,573
Net income in $ Million 2,238 2,854 2,277 2,023 1,553
EBITDA $ Million 3,841 4,610 3,779 3,435 2,887
EPS diluted in $/share 3.81 4.86 3.87 3.45 2.66
cash from operating activities in $ Million 2,048 4,773 3,444 3,255 2,277
Capital Expenditure in $ Million 1,424 1,205 1,362 1,624 1,521
Free Cash Flow in $ Million 624 3,568 2,082 1,631 756
Total cash $ Billion 3.07 5.27 5.97 5.02 4.76
Long-term debt in $ Billion 5.09 5.08 4.86 3.82 3.81
Dividend per share in $ (+ special dividend) 0.75+1.70 0.825+1.50 0.825+1,00 0.825 0.825
Shares outstanding (diluted) in Million 588 587 587 587 584



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