EOG Resources, Inc. reported third-quarter net income of $2.78 billion and raised its regular dividend by 8% to $1.10 per share, alongside record production and $1 billion in share repurchases.
Earnings per share were $5.33, compared with $2.70 in the third quarter of 2025. Revenue rose to $8.55 billion from $5.85 billion. Cash from operating activities totaled $3.81 billion, while free cash flow, a non-GAAP measure, was $2.18 billion.
Oil and condensate, natural gas liquids, and natural gas output each reached a quarterly high, EOG said. All three exceeded the midpoint of the company’s production guidance. Per-unit cash operating costs and depreciation, depletion and amortization were below their respective guidance midpoints.
EOG distributed $544 million in regular dividends during the quarter. It also repurchased 7 million shares for $1 billion, an average of $143 per share. The new dividend payment is scheduled for Jan. 29, 2027, for shareholders whose ownership is recorded by Jan. 15. EOG said the increase reflects confidence in its business and its ability to maintain the dividend through commodity-price cycles. The company said it has paid a regular dividend for 28 consecutive years.
A long-term gas sales agreement tied to JKM pricing is expected to begin by 2030. EOG expects the deal to raise premium-priced exposure across its liquefied natural gas feedgas contracts to more than one billion cubic feet per day by then. The company also approved an expansion of its Janus gas processing plant in the Delaware Basin, saying added capacity is intended to support netbacks, returns and long-term value creation.
The Securities and Exchange Commission filing index lists EOG’s Nov. 5 Form 8-K under Item 2.02, “Results of Operations and Financial Condition”; Item 7.01, “Regulation FD Disclosure”; and Item 9.01, “Financial Statements and Exhibits.” EOG scheduled a results webcast for 10 a.m. ET Friday, Nov. 6.
