EOG RESOURCES INC: Regulatory FD Disclosure (Form 8-K)

Section 7.01 Disclosure of FD Rules.

I. Update from Price Matters

Based on the tax position of EOG, EOG's price sensitivity (exclusive of basis
swaps) as of April 14, 2022, for each $1.00 per barrel increase or decrease in
wellhead crude oil and condensate price, combined with the estimated change in
NGL price, is approximately $116 million for net income and $148 million for
pretax cash flows from operating activities, in each case for the full-year
2022.

Based on EOG's tax position and the portion of EOG's anticipated natural gas
volumes for which prices have not (as of April 14, 2022) been determined under
long-term marketing contracts, EOG's price sensitivity (exclusive of basis
swaps) as of April 14, 2022, for each $0.10 per thousand cubic feet increase or
decrease in wellhead natural gas price, is approximately $15 million for net
income and $19 million for pretax cash flows from operating activities, in each
case for the full-year 2022.

II.  Price Risk Management

With the objective of enhancing the certainty of future revenues and cash flows,
from time to time EOG enters into financial price swap, option, swaption, collar
and basis swap contracts. EOG accounts for financial commodity derivative
contracts using the mark-to-market accounting method.

For the first quarter of 2022, EOG anticipates a net loss of $2,820 million on
the mark-to-market of its financial commodity derivative contracts. During the
first quarter of 2022, the net cash paid for settlements of financial commodity
derivative contracts was $296 million.

For the quarter ended March 31, 2022, NYMEX WTI crude oil averaged $94.38 per
Bbl, and NYMEX natural gas at Henry Hub averaged $4.91 per MMBtu. EOG's actual
realizations for crude oil and natural gas for the quarter ended March 31, 2022,
differ from these NYMEX prices due to delivery location (basis), quality and
appropriate revenue adjustments. EOG's actual realizations for NGLs are
influenced by the components extracted, including ethane, propane, butane and
natural gasoline, among others, and the respective market pricing for each
component.

In connection with its financial commodity derivative contracts, EOG had $2.5
billion of collateral posted at April 14, 2022. EOG expects this collateral to
be applied to the settlement of financial commodity derivative contracts if
market prices remain above contract prices. The amount of posted collateral will
increase or decrease based on fluctuations in forward NYMEX WTI and Henry Hub
prices.

III. Commodity derivative transactions

Presented below is a comprehensive summary of EOG's financial commodity
derivative contracts as of April 14, 2022. For a summary of EOG's financial
commodity derivative contracts as of February 18, 2022, see "Commodity
Derivative Transactions" in Item 7., Management's Discussion and Analysis of
Financial Condition and Results of Operations, of EOG's Annual Report on Form
10-K for the fiscal year ended December 31, 2021, filed on February 24, 2022
(Annual Report on Form 10-K). Since filing its Annual Report on Form 10-K, EOG
has entered into additional financial commodity derivative contracts.

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                                                      Crude Oil Financial Price Swap Contracts
                                                                           Contracts Sold                               Contracts Purchased
                                                                                                                                         Weighted
                                                                                      Weighted Average                                 Average Price
        Period                    Settlement Index            Volume (MBbld)           Price ($/Bbl)            Volume (MBbld)            ($/Bbl)

January - March 2022
(closed)                      NYMEX WTI                                140          $           65.58                      -          $          -
April - June 2022             NYMEX WTI                                140                      65.62                      -                     -
July - September 2022         NYMEX WTI                                140                      65.59                      -                     -
October - December 2022
(closed) (1)                  NYMEX WTI                                 39                      66.05                      -                     -
October - December 2022       NYMEX WTI                                101                      65.53                     86                 88.84
January - March 2023          NYMEX WTI                                150                      67.92                      -                     -
April - June 2023             NYMEX WTI                                120                      67.79                      -                     -
July - September 2023         NYMEX WTI                                100                      70.15                      -                     -
October - December 2023       NYMEX WTI                                 69                      69.41                      -                     -


_________________
(1)  In April 2022, EOG executed the early termination provision granting EOG
the right to terminate certain of its October - December 2022 crude oil price
swap contracts which were open at that time. EOG paid net cash of $84 million
for the settlement of these contracts.

                                                Crude Oil Basis Swap Contracts
                                                                                              Contracts Sold
                                                                                                        Weighted Average Price
                                                                                   Volume                    Differential
             Period                          Settlement Index                     (MBbld)                       ($/Bbl)

                                       NYMEX WTI Roll Differential
January - April 2022 (closed)          (1)                                                 125          $               0.15
                                       NYMEX WTI Roll Differential
May - December 2022                    (1)                                                 125                          0.15


_________________

(1) This settlement index is used to fix the price differential between the monthly average of the NYMEX calendar and the month of delivery of physical crude oil.

                                            Natural Gas Financial Price Swap Contracts
                                                                                                 Contracts Sold
                                                                                        Volume                  Weighted Average
             Period                            Settlement Index                 (MMBtud in thousands)           Price ($/MMBtu)

January - April 2022 (closed)          NYMEX Henry Hub                                           725          $            3.57
May - December 2022                    NYMEX Henry Hub                                           725                       3.57
January - December 2023                NYMEX Henry Hub                                           725                       3.18
January - December 2024                NYMEX Henry Hub                                           725                       3.07
January - December 2025                NYMEX Henry Hub                                           725                       3.07



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                                                Natural Gas Basis Swap Contracts
                                                                                              Contracts Sold
                                                                                                          Weighted Average Price
                                                                                    Volume                     Differential
           Period                          Settlement Index                 (MMBtud in thousands)               ($/MMBtu)

January - April 2022               NYMEX Henry Hub HSC Differential
(closed)                           (1)                                                       210          $             (0.01)
                                   NYMEX Henry Hub HSC Differential
May - December 2022                (1)                                                       210                        (0.01)
                                   NYMEX Henry Hub HSC Differential
January - December 2023            (1)                                                       135                        (0.01)
                                   NYMEX Henry Hub HSC Differential
January - December 2024            (1)                                                        10                         0.00
                                   NYMEX Henry Hub HSC Differential
January - December 2025            (1)                                                        10                         0.00


_________________

(1) This settlement index is used to fix the differential between Houston Ship Channel prices and NYMEX Henry Hub prices.

IV. Forward-looking statements

Information Regarding Forward-Looking Statements

This document includes forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. All statements, other than statements of
historical facts, including, among others, statements and projections regarding
EOG's future financial position, operations, performance, business strategy,
goals, returns and rates of return, budgets, reserves, levels of production,
capital expenditures, costs and asset sales, statements regarding future
commodity prices and statements regarding the plans and objectives of EOG's
management for future operations, are forward­looking statements. EOG typically
uses words such as "expect," "anticipate," "estimate," "project," "strategy,"
"intend," "plan," "target," "aims," "ambition," "initiative," "goal," "may,"
"will," "focused on," "should" and "believe" or the negative of those terms or
other variations or comparable terminology to identify its forward­looking
statements. In particular, statements, express or implied, concerning EOG's
future operating results and returns or EOG's ability to replace or increase
reserves, increase production, generate returns and rates of return, replace or
increase drilling locations, reduce or otherwise control operating costs and
capital expenditures, generate cash flows, pay down or refinance indebtedness,
achieve, reach or otherwise meet initiatives, plans, goals, ambitions or targets
with respect to emissions, other environmental matters, safety matters or other
ESG (environmental/social/governance) matters, or pay and/or increase dividends
are forward­looking statements. Forward-looking statements are not guarantees of
performance. Although EOG believes the expectations reflected in its
forward-looking statements are reasonable and are based on reasonable
assumptions, no assurance can be given that these assumptions are accurate or
that any of these expectations will be achieved (in full or at all) or will
prove to have been correct. Moreover, EOG's forward-looking statements may be
affected by known, unknown or currently unforeseen risks, events or
circumstances that may be outside EOG's control. Important factors that could
cause EOG's actual results to differ materially from the expectations reflected
in EOG's forward-looking statements include, among others:

•the timing, extent and duration of changes in prices for, supplies of, and
demand for, crude oil and condensate, natural gas liquids (NGLs), natural gas
and related commodities;
•the extent to which EOG is successful in its efforts to acquire or discover
additional reserves;
•the extent to which EOG is successful in its efforts to (i) economically
develop its acreage in, (ii) produce reserves and achieve anticipated production
levels and rates of return from, (iii) decrease or otherwise control its
drilling, completion, operating and capital costs related to, and (iv) maximize
reserve recovery from, its existing and future crude oil and natural gas
exploration and development projects and associated potential and existing
drilling locations;
•the extent to which EOG is successful in its efforts to market its production
of crude oil and condensate, NGLs and natural gas;
•security threats, including cybersecurity threats and disruptions to our
business and operations from breaches of our information technology systems,
physical breaches of our facilities and other infrastructure or breaches of the
information technology systems, facilities and infrastructure of third parties
with which we transact business;
•the availability, proximity and capacity of, and costs associated with,
appropriate gathering, processing, compression, storage, transportation,
refining, and export facilities;
•the availability, cost, terms and timing of issuance or execution of mineral
licenses and leases and governmental and other permits and rights-of-way, and
EOG's ability to retain mineral licenses and leases;

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•the impact of, and changes in, government policies, laws and regulations,
including climate change-related regulations, policies and initiatives (for
example, with respect to air emissions); tax laws and regulations (including,
but not limited to, carbon tax legislation); environmental, health and safety
laws and regulations relating to disposal of produced water, drilling fluids and
other wastes, hydraulic fracturing and access to and use of water; laws and
regulations affecting the leasing of acreage and permitting for oil and gas
drilling and the calculation of royalty payments in respect of oil and gas
production; laws and regulations imposing additional permitting and disclosure
requirements, additional operating restrictions and conditions or restrictions
on drilling and completion operations and on the transportation of crude oil and
natural gas; laws and regulations with respect to derivatives and hedging
activities; and laws and regulations with respect to the import and export of
crude oil, natural gas and related commodities;
•the impact of climate change-related policies and initiatives at the corporate
and/or investor community levels and other potential developments related to
climate change, such as (but not limited to) changes in consumer and
industrial/commercial behavior, preferences and attitudes with respect to the
generation and consumption of energy; increased availability of, and increased
consumer and industrial/commercial demand for, competing energy sources
(including alternative energy sources); technological advances with respect to
the generation, transmission, storage and consumption of energy; alternative
fuel requirements; energy conservation measures; decreased demand for, and
availability of, services and facilities related to the exploration for, and
production of, crude oil, NGLs and natural gas; and negative perceptions of the
oil and gas industry and, in turn, reputational risks associated with the
exploration for, and production of, crude oil, NGLs and natural gas;
•EOG's ability to effectively integrate acquired crude oil and natural gas
properties into its operations, fully identify existing and potential problems
with respect to such properties and accurately estimate reserves, production and
drilling, completing and operating costs with respect to such properties;
•the extent to which EOG's third-party-operated crude oil and natural gas
properties are operated successfully, economically and in compliance with
applicable laws and regulations;
•competition in the oil and gas exploration and production industry for the
acquisition of licenses, leases and properties;
•the availability and cost of, and competition in the oil and gas exploration
and production industry for, employees and other personnel, facilities,
equipment, materials (such as water and tubulars) and services;
•the accuracy of reserve estimates, which by their nature involve the exercise
of professional judgment and may therefore be imprecise;
•weather, including its impact on crude oil and natural gas demand, and
weather-related delays in drilling and in the installation and operation (by EOG
or third parties) of production, gathering, processing, refining, compression,
storage, transportation, and export facilities;
•the ability of EOG's customers and other contractual counterparties to satisfy
their obligations to EOG and, related thereto, to access the credit and capital
markets to obtain financing needed to satisfy their obligations to EOG;
•EOG's ability to access the commercial paper market and other credit and
capital markets to obtain financing on terms it deems acceptable, if at all, and
to otherwise satisfy its capital expenditure requirements;
•the extent to which EOG is successful in its completion of planned asset
dispositions;
•the extent and effect of any hedging activities engaged in by EOG;
•the timing and extent of changes in foreign currency exchange rates, interest
rates, inflation rates, global and domestic financial market conditions and
global and domestic general economic conditions;
•the duration and economic and financial impact of epidemics, pandemics or other
public health issues, including the COVID-19 pandemic;
•geopolitical factors and political conditions and developments around the world
(such as the imposition of tariffs or trade or other economic sanctions,
political instability and armed conflict), including in the areas in which EOG
operates;
•the extent to which EOG incurs uninsured losses and liabilities or losses and
liabilities in excess of its insurance coverage;
•acts of war and terrorism and responses to these acts; and
•the other factors described under ITEM 1A, Risk Factors on EOG's Annual Report
on Form 10-K and any updates to those factors set forth in EOG's subsequent
Quarterly Reports on Form 10-Q or Current Reports on Form 8-K.

In light of these risks, uncertainties and assumptions, the events anticipated
by EOG's forward-looking statements may not occur, and, if any of such events
do, we may not have anticipated the timing of their occurrence or the duration
or extent of their impact on our actual results. Accordingly, you should not
place any undue reliance on any of EOG's forward-looking statements. EOG's
forward-looking statements speak only as of the date made, and EOG undertakes no
obligation, other than as required by applicable law, to update or revise its
forward-looking statements, whether as a result of new information, subsequent
events, anticipated or unanticipated circumstances or otherwise.

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Glossary:
$/Bbl       Dollars per barrel
$/MMBtu     Dollars per million British Thermal Units
Bbl         Barrel
EOG         EOG Resources, Inc.
HSC         Houston Ship Channel
MBbld       Thousand barrels per day
MMBtu       Million British Thermal Units
MMBtud      Million British Thermal Units per day
NGL         Natural Gas Liquids
NYMEX       New York Mercantile Exchange
WTI         West Texas Intermediate




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