EOG said its net income was $7,594 million in 2023, lower than the $7,759 million it reported in 2022. Operating revenues fell 6% to $24,186 million, and total wellhead revenues fell 24% to $17,376 million.

1. 01

   EOG said its net income was $7,594 million in 2023, lower than the $7,759 million it reported in 2022. Operating revenues fell 6% to $24,186 million, and total wellhead revenues fell 24% to $17,376 million.

2. 02

   The company said the composite wellhead crude oil and condensate price fell 19% to $79.17 per barrel in 2023, while production rose 3% to 476 MBbld. It said the natural gas price fell 60% to $2.79 per Mcf, while deliveries rose 14% to 1,711 MMcfd.

3. 03

   EOG said net cash provided by operating activities was $11,340 million in 2023, an increase of $247 million from 2022. Financing activities included dividend payments of $3,386 million, repayment of long-term debt of $1,250 million and purchases of treasury stock of $1,038 million.

4. 04

   As of December 31, 2023, EOG said its debt-to-total capitalization ratio was 12% (17% at year-end 2022) and its cash and cash equivalents were $5.3 billion. The company also said it expects capital expenditures for 2024 of about $6.0 billion to $6.4 billion.

Key figures

Fiscal year ended December 31, 2023

Revenue

$24.2B

Operating income

$9.6B

Net income

$7.6B

EPS

$13.00

Operating cash flow

$11.3B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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