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EOG Resources posts higher third-quarter profit, lifts dividend 8%
EOG Resources said Thursday it earned $2.8 billion in the third quarter and raised its regular dividend 8%, citing record production and higher crude realizations, according to its release and Reuters.
- PR Newswire is now reporting this
- New headline Was: “US shale producer EOG Resources beats profit estimates on higher crude prices”
- Our desk filed its story
EOG Resources Inc. on Thursday reported third-quarter net income of $2.8 billion, or $5.33 a share, and said it would raise its regular quarterly dividend by 8%, as the Houston oil producer posted record oil, natural gas liquids and natural gas volumes2.
Reuters reported that the results beat Wall Street profit estimates, citing strong crude oil price realizations and record production1. The company's own release did not name a consensus figure2.
Revenue was $8.55 billion, compared with $5.85 billion in the year-earlier quarter2. Adjusted net income, a non-GAAP measure EOG highlights, was $2.5 billion, or $4.87 a share, versus $1.47 billion, or $2.71 a share, a year earlier2.
Total production averaged 1,433.1 thousand barrels of oil equivalent a day, above the company's 1,412.2 thousand-barrel guidance midpoint2. Crude and condensate averaged 550.4 thousand barrels a day2. West Texas Intermediate averaged $85.68 a barrel in the quarter, versus $64.95 a year earlier, according to the release2.
EOG said it generated $2.2 billion of free cash flow, paid $544 million in regular dividends and bought back $1.0 billion of shares, or 7.0 million shares at an average $1432. Cash operating costs and depreciation, depletion and amortization per barrel were below guidance midpoints, the company said2.
In a statement with the release, the company said it achieved record oil, NGL and natural gas production while keeping per-unit cash operating costs and DD&A below guidance midpoints2. The board set the regular dividend at $1.10 a share, a $4.40 indicated annual rate, payable Jan. 29, 2027, to holders of record Jan. 15, 20272.
EOG also said it entered a long-term gas sales agreement linked to Japan Korea Marker pricing starting by 2030, and approved an expansion of its Janus gas processing plant in the Delaware Basin2. Remaining share-repurchase authorization was $10.6 billion as of Sept. 30, 20262.
Reuters' account, as indexed publicly, focused on the earnings beat and crude realizations rather than the dividend or the JKM contract1. Independent analyst estimates were not verified in the company tables2.
Sources
How it’s being reported
2 sourcesFirst reported by 
PR Newswire
PR NewswireFirstEOG Resources Reports Third Quarter 2026 Results and Raises Regular Dividend 8%
Record oil, NGL and gas volumes, free cash flow, an 8% regular-dividend increase and a long-term gas contract.
Company earnings release with GAAP results, volumes, dividend, buybacks and a new JKM-linked gas sales agreement.
Leaves out Explicit comparison with Wall Street consensus estimates.
US shale producer EOG Resources beats profit estimates on higher crude prices
Gives this outlet’s account of the story.
Where they agree
- Third-quarter results were stronger than a year earlier, with record production volumes.
- Crude price realizations were a factor in the quarter's financial results.
Where they differ
Whether results beat Wall Street estimates