Form 8-K · Current Report · Filed 2024-01-11
EOG Resources Announces Mark-to-Market Impact from Financial Derivatives
EOG Resources, Inc. disclosed in an 8-K filing that it anticipates a net gain of $298 million on the mark-to-market of its financial commodity derivative contracts for the fourth quarter of 2023. This is part of EOG's ongoing strategy to manage price risk associated with its crude oil and natural gas operations. The company also reported receiving $18 million in net cash from settlements of these derivative contracts during the quarter. These adjustments will be reflected in EOG's Adjusted Net Income (Loss) for the period.
- Filer
- Eog Resources Inc. EOG · NYSE
- Filed
- Accession
- 0000821189-24-000002
- CIK
- 0000821189
- Signal
- Low impactEnergy
- Source
- Official filing on sec.gov ↗
Items reported
Regulation FD Disclosure
Market reaction
Close before filing
$114.99
Next session
+0.9%
Since filing
+29.3%
Latest close
$148.69
What happened, not what will happen — closing prices around the filing date.
About Eog Resources Inc.
Eog Resources Inc. is a leading independent crude oil and natural gas exploration and production company. The primary function of Eog Resources Inc. is to discover, develop, and sustainably extract energy resources, focusing on cost efficiency, operational excellence, and innovative technological approaches. It predominantly operates in the exploration and production sector of the energy industry, with substantial operations across major oil and gas basins in the United States, including the Permian Basin, Eagle Ford, and Delaware Basin. Notably, Eog Resources Inc. emphasizes maximizing shareholder value through disciplined capital allocation and a robust portfolio of high-return, low-cost projects. This company plays a vital role in the energy market, contributing to the supply side of the global energy balance, which is crucial for supporting industrial operations, transportation, and power generation. Its strategic approach includes deploying advanced drilling and completion technologies to enhance production efficiency and minimize environmental impact. As an entity with a significant market footprint, Eog Resources Inc. continues to influence trends in the energy sector, focusing on financial performance and sustainability.
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