EOG Resources Q2 Result - Aug 2
Posted: Fri Aug 02, 2019 12:27 pm
I am updating my forecast/valuation model for EOG and it will be posted to the EPG website later today. EOG should be a "Core Holding" in your portfolio. It has a rock solid balance sheet, holds some of the most valuable real estate on the planet and it has double digit production growth locked in for many years. Plus, its growth is fully funded by cash flow from operation AND it generates over a $Billion of FREE CASH FLOW FROM OPERATIONS even at today's oil price. - Dan.
EOG Resources Reports Outstanding Second Quarter 2019 Results; Generates Significant Returns, Growth and Cash Flow at Lower Oil Prices
- Crude Oil Production Increased 18 Percent YOY and Exceeded Target with Capital Expenditures Below Target
- Generated Significant Net Cash From Operating Activities and Free Cash Flow
- Reduced Unit Cash Operating Costs 7 Percent YOY and Lowered YTD Well Costs 4 Percent
HOUSTON - EOG Resources, Inc. (EOG) today reported second quarter 2019 net income of $848 million, or $1.46 per share, compared with second quarter 2018 net income of $697 million, or $1.20 per share. Net cash provided by operating activities for the second quarter 2019 was $2.7 billion.
Adjusted non-GAAP net income for the second quarter 2019 was $762 million, or $1.31 per share, compared with adjusted non-GAAP net income of $795 million, or $1.37 per share, for the same prior year period. < Compares to my Q2 forecast of $729.5 million net income ($1.26/share).
EOG generated $2.1 billion of discretionary cash flow in the second quarter 2019, one percent more than the same prior year period despite a 12 percent decline in the NYMEX WTI benchmark price. < This compares to my Q2 forecast of $1.879 Billion cash flow from operations.
EOG Resources Reports Outstanding Second Quarter 2019 Results; Generates Significant Returns, Growth and Cash Flow at Lower Oil Prices
- Crude Oil Production Increased 18 Percent YOY and Exceeded Target with Capital Expenditures Below Target
- Generated Significant Net Cash From Operating Activities and Free Cash Flow
- Reduced Unit Cash Operating Costs 7 Percent YOY and Lowered YTD Well Costs 4 Percent
HOUSTON - EOG Resources, Inc. (EOG) today reported second quarter 2019 net income of $848 million, or $1.46 per share, compared with second quarter 2018 net income of $697 million, or $1.20 per share. Net cash provided by operating activities for the second quarter 2019 was $2.7 billion.
Adjusted non-GAAP net income for the second quarter 2019 was $762 million, or $1.31 per share, compared with adjusted non-GAAP net income of $795 million, or $1.37 per share, for the same prior year period. < Compares to my Q2 forecast of $729.5 million net income ($1.26/share).
EOG generated $2.1 billion of discretionary cash flow in the second quarter 2019, one percent more than the same prior year period despite a 12 percent decline in the NYMEX WTI benchmark price. < This compares to my Q2 forecast of $1.879 Billion cash flow from operations.