EOG Resources reports Q2 adjusted EPS $2.49, consensus $2.32

Reports Q2 revenue $5.573B, consensus $5.31B. Ezra Yacob, Chairman and Chief Executive Officer said, “EOG delivered another quarter of exceptional operating performance with production volumes, capital expenditures, and cash operating costs all better than expected. Results through the first half of the year reflect consistent operating execution across our multi-basin portfolio to lower costs and generate free cash flow. EOG remains committed to returning cash to our shareholders. We paid our peer-leading regular dividend and repurchased shares with strong free cash flow during the quarter. To date, we have already committed to returning more than 60% of expected free cash flow in 2023 to shareholders, with the potential to return additional cash over the balance of the year. Along with strong performance in the Delaware Basin and Eagle Ford, we are pleased by the outstanding progress across our emerging plays. The South Texas Dorado, Southern Powder River Basin, and Ohio Utica Combo are achieving significant operational improvements, driving lower costs and supporting higher returns. EOG is performing better than ever, with the benefits of our multi-basin portfolio providing a clear runway to drive further improvements and value for our shareholders.”