Record Shareholder Returns
EOG Resources returned a record $5.3 billion to shareholders in 2024, representing 98% of free cash flow, significantly exceeding their commitment to return a minimum of 70% of annual free cash flow.
Strong Financial Performance
EOG Resources reported $6.6 billion of adjusted net income for a 25% return on capital employed, with a 28% average return over the past four years, outpacing industry peers.
Increased Dividend
EOG increased its regular dividend by 7% in 2024, maintaining a history of never cutting or suspending dividends, with a growth rate twice that of peers since 2019.
Operational Efficiency Gains
EOG improved well productivity and base production performance by 10% through innovations in completion design and artificial lift automation, while reducing average well costs by 6%.
Strategic Infrastructure Projects
The Verde pipeline and Janus natural gas processing plant, both aimed at enhancing market access and price realizations, came into service, providing significant capacity for future growth.
International Expansion
EOG expanded internationally with a new joint venture in Bahrain for tight gas exploration and continued development in Trinidad, including new offshore projects.