Summary
EOG Resources, Inc. (EOG) filed an 8-K on April 5, 2002, to disclose its first-quarter 2002 financial outlook, specifically concerning its commodity price swaps. The company anticipates a significant mark-to-market loss of $34.3 million related to these outstanding swaps. This is contrasted with an expected cash realization of $11.0 million from the same swaps during the quarter. This disclosure is made under Regulation FD, ensuring fair disclosure of material information to all investors. Investors should note that while the company provided these figures, they are based on current information and expectations. EOG Resources explicitly includes a forward-looking statement disclaimer, highlighting various risks and uncertainties that could materially impact actual results. These include fluctuations in commodity prices, interest rates, hedging effectiveness, exploration and production success, reserve estimation accuracy, political developments, and general financial market conditions. The company does not undertake to update these statements.
Key Highlights
- 1EOG Resources anticipates a $34.3 million mark-to-market loss on commodity price swaps for Q1 2002.
- 2The company expects to realize $11.0 million in cash from these same commodity price swaps in Q1 2002.
- 3This disclosure is made under Regulation FD for fair and timely investor communication.
- 4The report contains forward-looking statements regarding the company's expectations.
- 5Key risks that could affect actual results include commodity price volatility, hedging effectiveness, and exploration success.
- 6EOG Resources states it has no obligation to update its forward-looking statements.