US LNG exports surge but will buyers in China turn up?
HOUSTON - EOG Resources (NYSE:EOG) reported second quarter earnings that exceeded analyst expectations, with adjusted earnings per share of $2.32 beating the consensus estimate of $2.23. Revenue for the quarter came in at $5.48 billion, slightly above the analyst estimate of $5.44 billion.
The oil and gas producer saw its shares dip 1% following the earnings release as investors digested the company’s updated guidance after completing its acquisition of Encino Acquisition Partners. The company maintained a strong operational performance despite lower commodity prices compared to the previous quarter.
EOG’s oil production reached 504,200 barrels per day (bopd) in the second quarter, exceeding the midpoint of its guidance range and increasing from the first quarter. Natural gas liquids and natural gas production also surpassed guidance midpoints, rising 7% from the first quarter.
"EOG delivered excellent second quarter results, with oil, gas, and NGL volumes exceeding the midpoints of our guidance," said Ezra Yacob, Chairman and Chief Executive Officer. "At the same time, we maintained our focus on cost discipline, with capital expenditures, cash operating costs, and DD&A all coming in below guidance."
The company generated $973 million in free cash flow during the quarter and returned $1.1 billion to shareholders, including $528 million in regular dividends and $600 million in share repurchases.
EOG has updated its full-year 2025 guidance following the close of the Encino acquisition. Capital expenditures are now expected to range from $6.2 billion to $6.4 billion, supporting full-year average oil production of 521,000 bopd and total production of 1,224,000 barrels of oil equivalent per day.
Quarterly revenue declined 3.4% YoY from $6.03 billion in the second quarter of 2024, primarily due to lower commodity prices. The company’s composite average crude oil price was $64.82 per barrel in Q2 2025, down from $82.69 in the same period last year.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.