10-QPeriod: Q1 FY2013

EOG RESOURCES INC Quarterly Report for Q1 Ended Mar 31, 2013

Filed May 6, 2013For Securities:EOG

Summary

EOG Resources Inc.'s Q1 2013 filing indicates a solid start to the year, driven by robust operational performance and a focus on cost management. The company continued to demonstrate its ability to generate strong cash flow from its diverse portfolio of oil and natural gas assets, particularly highlighting its progress in developing its premium drilling locations. Investors should note the company's consistent execution in expanding production while maintaining capital discipline, a key factor in its long-term value creation strategy. The financial results reflect the company's strategic positioning in key shale plays, enabling efficient production growth. While commodity prices are a significant factor, EOG's operational improvements and focus on generating returns from its acreage are central themes. The report suggests ongoing commitment to enhancing shareholder value through profitable production and efficient resource development, setting a positive tone for the upcoming quarters.

Financial Highlights

46 data points
Beta

Revenue

$3.36B

Net Income

$494.73M

14.7% Net Margin

EPS (Diluted)

$0.91

Total Assets

$28.23B

Cash & Equivalents

$1.11B

Free Cash Flow

$1.42B

Financial Statements
Beta
Revenue$3.36B
Operating Expenses$2.52B
Operating Income$833.07M
Interest Expense$61.92M
Net Income$494.73M
EPS (Basic)$0.92
EPS (Diluted)$0.91
Shares Outstanding (Basic)538.72M
Shares Outstanding (Diluted)544.53M

Key Highlights

  • 1EOG Resources reported strong operational execution in Q1 2013, focusing on expanding production from its premium drilling locations.
  • 2The company continued to emphasize cost management and capital discipline, aiming to maximize returns on its investments.
  • 3Financial statements for the period ending March 31, 2013, were presented, including income, balance sheet, and cash flow statements.
  • 4Management's Discussion and Analysis provides insights into the company's financial condition, results of operations, and market risk.
  • 5The filing includes disclosures on legal proceedings, unregistered sales of equity securities, and mine safety, with no material updates on legal matters.
  • 6EOG Resources maintained its commitment to efficient exploration and production, leveraging its acreage position in key resource plays.

Frequently Asked Questions

The primary drivers were strong operational execution, particularly in developing premium drilling locations, and a continued focus on cost management and capital discipline. This allowed for efficient production growth and strong cash flow generation from the company's diverse asset base.

Based on the filing, there were no material legal proceedings or adverse developments that significantly impacted the company's financial condition or operations. Disclosures in Item 1 of Part II indicate no substantial new legal actions.

The company is demonstrating capital discipline, focusing investments on its highest-return opportunities, specifically its premium drilling locations. This approach aims to maximize shareholder value by ensuring efficient deployment of capital and profitable production growth.

The report includes the unaudited Consolidated Statements of Income and Comprehensive Income, Consolidated Balance Sheets, and Consolidated Statements of Cash Flows for the respective periods, along with detailed Notes to the Consolidated Financial Statements.