8-KRegulation FD

EOG RESOURCES INC 8-K Report, Regulation FD Disclosure (May 4, 2009)

Filed May 4, 2009For Securities:EOG

Summary

EOG Resources Inc. (EOG) filed an 8-K on May 4, 2009, to update its financial forecast for the second quarter and full year of 2009, superseding all previous guidance. This filing primarily serves to provide investors with current expectations regarding the company's performance, based on information available as of the report date. While the specific financial figures are detailed in an attached exhibit (Exhibit 99.1), the report emphasizes that these forecasts are forward-looking statements. The company outlines a comprehensive list of risks and uncertainties that could materially affect actual results, covering commodity price volatility, operational challenges, access to resources, market demand, and broader economic and political factors. Investors should review these risk factors carefully to understand the potential deviations from the provided forecast.

Key Highlights

  • 1EOG Resources updated its Q2 and full-year 2009 financial forecast, replacing all prior guidance.
  • 2The forecast is based on current information and expectations as of May 3, 2009.
  • 3Specific forecast details are provided in Exhibit 99.1, which is incorporated by reference.
  • 4The company clarifies its methodology for determining benchmark commodity pricing for natural gas (Henry Hub) and crude oil (WTI).
  • 5The filing includes a significant section on forward-looking statements, detailing numerous risks and uncertainties that could impact actual results.
  • 6Key risks mentioned include commodity price fluctuations, demand changes, operational success, reserve development, access to infrastructure, and broader economic/political factors.

Frequently Asked Questions

The primary purpose of this 8-K filing is to update EOG Resources' (EOG) financial forecast for the second quarter and the full year of 2009. This new guidance replaces any previously issued forecasts.

The specific estimated ranges for the second quarter and full year 2009 forecast are provided in Exhibit 99.1, which is attached to this filing and incorporated by reference.

EOG uses the Henry Hub, Louisiana, for U.S. and Canada natural gas price differentials, based on the average of the last three days of NYMEX settlement prices for the applicable month. For U.S., Canada, and Trinidad crude oil and condensate, EOG uses West Texas Intermediate (WTI) at Cushing, Oklahoma, based on the daily average of NYMEX settlement prices for the applicable calendar month.

Investors should be aware of a broad range of risks, including but not limited to, volatility in natural gas and crude oil prices, changes in demand, success in exploration and development, operational challenges, availability and cost of infrastructure and services, weather impacts, creditworthiness of counterparties, access to capital markets, and general economic and political conditions.