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Last $91.36 USD
Change Today +1.40 / 1.56%
Volume 4.9M
EOG On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 6:40 PM 03/26/15 All times are local (Market data is delayed by at least 15 minutes).

eog resources inc (EOG) Key Developments

EOG Resources, Inc. Closes its Sale of $500 Million Aggregate Principal Amount of its 3.15% Senior Notes Due 2025 and $500 Million Aggregate Principal Amount of its 3.90% Senior Notes Due 2035

On March 17, 2015, EOG Resources, Inc. (EOG) closed its sale of $500 million aggregate principal amount of its 3.15% Senior Notes due 2025 (2025 Notes) and $500 million aggregate principal amount of its 3.90% Senior Notes due 2035 (2035 Notes and, together with the 2025 Notes, the Notes). The Notes were issued under an indenture, dated as of May 18, 2009 (Indenture), by and between EOG, as issuer, and Wells Fargo Bank, National Association, as trustee, and an officers’ certificate, dated March 17, 2015, pursuant to the Indenture setting out the specific terms of the Notes. The offer and sale of the Notes has been registered under the Securities Act of 1933, as amended, pursuant to a Registration Statement on Form S-3 (Registration No. 333-185655) filed with the United States Securities and Exchange Commission on December 21, 2012.

Statoil Eyeing EOG Resources

Statoil ASA (OB:STL) may be pursuing a megadeal to acquire EOG Resources, Inc. (NYSE:EOG) in a merger or acquisition that could exceed $50 billion. Both companies declined comment, citing corporate policy.

EOG Resources, Inc. (EOG) Appoints Gary L. Thomas as President

On March 4, 2015, the board of directors of EOG Resources, Inc. (EOG) appointed Gary L. Thomas, EOG's chief operating officer, to the additional position of president, effective as of March 4, 2015. As EOG's president and chief operating officer, G.Thomas will continue to be responsible for EOG's day-to-day operations and will continue to report to William R. Thomas, EOG's chairman of the board and chief executive officer. G. Thomas has served as EOG's chief operating officer since September 2011.

EOG Resources Seeks Acquisitions

EOG Resources, Inc. (NYSE:EOG) is seeking acquisitions. Bill Thomas, Chairman and Chief Executive Officer, said, "We will continue to grow our acreage portfolio through leaseholds, farm-in or tactical acquisitions."

EOG Resources, Inc. Reports Earnings Results for the Fourth Quarter and Full Year of 2014; Provides Capital Expenditure Guidance for the Year 2015; Announces Impairment Charges for the Fourth Quarter of 2014; Announces Production Results for the Year 2014

EOG Resources reported earnings results for the fourth quarter and full year of 2014. For the quarter, the company reported net income of $0.81 per share, down from $1.06 per share for the same period last year. On a non-GAAP, adjusted net income was $0.79 per share, down from $1 per share for the prior year period. Net operating revenues were $4.65 billion, up from $3.75 billion reported for the same period last year. For the fourth quarter 2014, the company's total exploration and development expenditures were $1.8 billion, excluding acquisitions and asset retirement obligations. In addition, expenditures for gathering systems, processing plants and other property plant and equipment were $140 million. There were $66 million of acquisitions during the quarter. For the full year 2014, the company's total exploration and development expenditures were $7.6 billion, excluding acquisitions and asset retirement obligations. In addition, expenditures for gathering systems, processing plants and other property plant and equipment were $727 million. ROE for the year was 16%. For the full year, capital expenditures excluding acquisitions and asset retirement obligations were $8.3 billion. Total cash flow from operations was $8.6 billion, exceeding total cash expenditures. For the year, the company increased crude oil production by 31%, driven by its top 3 oil plays: the Eagle Ford, Bakken and Delaware Basin. NGL production increased 23%, while natural gas production held flat, yielding total company production growth of 17%. For the year 2015, the company will lower its capital expenditures by 40% from 2014 level to a range of $4.9 billion to $5.1 billion. Due to the reduced capital expenditures and other factors, well completions for the full year will decline by 45% and the midpoint of the crude oil production guidance is essentially flat from last year. The company's total impairments were $536 million for the fourth quarter of 2014.

 

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Industry Analysis

EOG

Industry Average

Valuation EOG Industry Range
Price/Earnings 16.9x
Price/Sales 2.9x
Price/Book 2.8x
Price/Cash Flow 6.4x
TEV/Sales 2.5x
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