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Q1 2022 Earnings Presentation – EOG Resources, Inc.

EOG Resources, Inc. · May 4, 2022 · 16 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q1 2022 Earnings Presentation – EOG Resources, Inc. – slide 1
    Value Matters 1Q 2022 David Streit, Vice President IR/PR Kimberly Ehmer, Director IR/PR Neel Panchal, Director IR (713) 571-4902, dstreiteogresources.com (713) 571-4676, kehmereogresources.com (713) 571-4884, npanchaleogresources.com
  2. Q1 2022 Earnings Presentation – EOG Resources, Inc. – slide 2
    Sustainable Value Creation Through Industry Cycles Consistent Strategy to Maximize Long-Term Shareholder Value Returns-Focused EOG is focused on being among the lowest cost, highest return and lowest Disciplined Growth emissions…
  3. Q1 2022 Earnings Presentation – EOG Resources, Inc. – slide 3
    EOG Resources Returns EOG Premium Basins Most Stringent Investment Hurdle Rate in Industry: 60% Direct ATROR1,2 at Flat 40 Oil and 2.50 Natural Gas Bakken Capital Discipline Manage Investment at Appropriate Rate to Support Powder River…
  4. Q1 2022 Earnings Presentation – EOG Resources, Inc. – slide 4
    1Q 2022 Results & Highlights Strong First Quarter Results Support 2022 Game Plan - FY 2022 Capex and Volume Guidance Unchanged - 1Q 2022 Volumes, Capex and Total Per-Unit Cash Operating Costs Better than Guidance1 - 1Q 2022 Adjusted…
  5. Q1 2022 Earnings Presentation – EOG Resources, Inc. – slide 5
    Increasing Our Cash Return to Shareholders Committed to Returning a Minimum 60% of Annual Free Cash Flow1,2 to Shareholders Long-Term EOG Free Cash Flow Priorities Returning 10 Bn+ Cash to Shareholders Since Transition to Premium…
  6. Q1 2022 Earnings Presentation – EOG Resources, Inc. – slide 6
    Committed to Sustainable, Growing Regular Dividend Regular Dividends Protect Cash Returns Through Cycles 24 Years of Stable and Growing Regular Dividend per Share 3.25 28% CAGR 3.00 Strong Track Record of Delivering Cash To 2.75…
  7. Q1 2022 Earnings Presentation – EOG Resources, Inc. – slide 7
    EOG Regular Dividend Leads Peers and Competes Across Sectors Regular Dividend Remains Primary Mode to Return Cash to Shareholders Regular Dividend Yield1 2.4% 2.0% 1.8% 3.6% 1.3% 1.2% 1.2% 1.1% 0.9% 0.8% 2.6% 2.4% H D…
  8. Q1 2022 Earnings Presentation – EOG Resources, Inc. – slide 8
    2022 Plan: Low Breakeven and 8.0 Bn FCF1,2 at 95 WTI Minimum 60% of Annual FCF Commitment Results in 4.8 Bn+ Cash to Shareholders 32 WTI Total Capex Breakeven & Significant FCF Potential - Strengthen Balance Sheet - Additional Cash…
  9. Q1 2022 Earnings Presentation – EOG Resources, Inc. – slide 9
    Innovation and Efficiencies Offsetting Inflationary Pressures 2022 Capex Budget of 4.51 Bn Unchanged Industry Cost Inflation Has Increased Due to Rising 2022 Total Capex Budget and Breakdown Unchanged 750 MM Fuel and Tubular Costs…
  10. Q1 2022 Earnings Presentation – EOG Resources, Inc. – slide 10
    Demonstrated Track Record of Cost Reduction Cash Operating Costs1,2 Finding & Development Cost4 Depreciation, Depletion & Amortization per Boe per Boe per Boe 13.25 18.43 13.53 10.353 10.653 5.81 -24% -56% -42% Premium…
  11. Q1 2022 Earnings Presentation – EOG Resources, Inc. – slide 11
    Dorado A Leading, Low-Cost U.S. Natural Gas Play Results Confirm Double Premium Potential of 21 Tcf Dry Gas Play 2022 Plan: 30 Net Completions 2 Rigs < 1 Frac Spread Performance Update: - Significant Progress Reducing Well Costs…
  12. Q1 2022 Earnings Presentation – EOG Resources, Inc. – slide 12
    Double Premium: Higher Returns + Higher Cash Flow Replaced 170% of Double Premium Wells Drilled in 2021 Direct 1,2 110 After-Tax Rate of Return(%) Shifting to Double Premium 100 - Raising the Return1,2 Hurdle from 30% to 100%+ 60%…
  13. Q1 2022 Earnings Presentation – EOG Resources, Inc. – slide 13
    Double Premium: Lower Breakevens Better Wells Lower WTI Breakeven for 10%+ ROCE Double Premium Net Wells Completed Oil Price Required for 10% ROCE1 410 83 81 75 290 290 65 230 55 57 210 54 150 44 40 50 Premium Drilling…
  14. Q1 2022 Earnings Presentation – EOG Resources, Inc. – slide 14
    ESG Ambitions & Strategy Dedicated to Being a Responsible Operator and Part of the Long-Term Energy Solution 2025: NEARTERM EMISSIONS TARGETS 2040: LONGTERM AMBITION 13.5 GHG 0.06 METHANE EMISSIONS PERCENTAGE2,3 ZERO ROUTINE…
  15. Q1 2022 Earnings Presentation – EOG Resources, Inc. – slide 15
    2021 Preliminary ESG Metrics On Track to Achieve Near Term Targets EMISSIONS WATER Scope 1 GHG Intensity Rate1,2 9% 19% 17.7 99.8% Wellhead Gas Capture Rate in 2021 17.1 36% 35% 15.0 13.6 14.0 13.5 46% 55% 2017 2018 2019 2020…
  16. Q1 2022 Earnings Presentation – EOG Resources, Inc. – slide 16
    EOG Culture Drives Sustainable Competitive Advantage Pleased but Not Satisfied Rate-of-Return Multi-Disciplinary Every Employee is a Driven Teamwork Business Person First Decentralized / Innovative / Safety, Environment, Culture…

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