EOG Resources Inc on Tuesday reported $701 million in net profit and $1.22 billion in adjusted net profit for the fourth quarter (Q4) of 2025, both down sequentially and year-on-year on lower oil and gas price realizations in the United States.
Earnings per share adjusted for extraordinary or nonrecurring items landed at $2.27, beating the Zacks Consensus Estimate of $2.2. Dividend per share remains at $1.02.
The Houston, Texas-based oil and gas explorer and producer, operating mainly in the U.S. with a smaller footprint in Trinidad and Bahrain, logged an average production of 1.4 million barrels of oil equivalent per day (MMboepd), up from 1.3 MMboepd in the prior three-month period and 1.1 MMboepd in Q4 2024. Crude oil and condensate output in Q4 2025 was 546,100 bpd, up quarter-on-quarter and year-on-year. Natural gas production stood at 3.07 billion cubic feet per day (Bcfpd), up quarter-on-quarter and year-on-year. Natural gas liquids production averaged 342,100 bpd, also up quarter-on-quarter and year-on-year.
The U.S. accounted for 128,700 boepd of EOG’s production in October-December 2025. Liquids comprised 544,500 bpd and gas 2.86 Bcfpd, both up quarter-on-quarter and year-on-year.
EOG saw lower price realizations for crude and gas against benchmark prices in the U.S., both quarter-on-quarter and year-on-year.
Q4 2025 revenue totaled $5.64 billion, compared to $5.85 billion for Q3 2025 and $5.89 billion for Q4 2024. Cash operating costs per boe rose quarter-on-quarter and year-on-year to $10.22.
Operating activities delivered $2.6 billion in net cash. Free cash flow was $1 billion.
Operating income landed at $943 million, compared to $1.84 billion for Q3 2025 and $1.59 billion for Q4 2024.
EOG ended 2025 with $3.4 billion in cash and cash equivalents, while current assets totaled $7.66 billion. Current liabilities stood at $4.69 billion including $27 million in current debt.
“Looking ahead, we have a disciplined plan for 2026 targeting $4.5 billion in free cash flow using the midpoints of guidance at current strip pricing”, said chief executive Ezra Yacob. “Our strategy prioritizes activity in the Delaware Basin, Utica and Eagle Ford while increasing activity in Dorado alongside continued international investment”.
EOG expects to grow total production this year by 13 percent, boosted by its $5.7 billion acquisition of Encino Energy, completed in Q4 2025. It expects its 2026 oil production to increase five percent.
“EOG plans to complete 585 net wells in 2026 across our domestic multi-basin portfolio of high-return inventory”, the company said.
“We expect higher overall activity in the Utica and Dorado, as well as continued advancement of exploration prospects in the UAE and Bahrain”, it added.
To contact the author, email jov.onsat@rigzone.com
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