EOG Resources — Jul 9, 2026 release

Fiscal 2026 second-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000821189-26-000147

No extracted guidance in this release.

All guidance in this release · 0

Exhibit 99.1 · full document

PRESS RELEASE OF EOG RESOURCES, INC. Document EXHIBIT 99.1 Table of Contents Second Quarter 2026 Supplemental Financial and Operating Data Page Income Statements 10 Volumes and Prices 11 Balance Sheets 12 Cash Flow Statements 13 Non-GAAP Financial Measures 14 Adjusted Net Income 15 Net Income Per Share 19 Adjusted Net Income Per Share 20 Cash Flow from Operations and Free Cash Flow 21 Net Debt-to-Total Capitalization Ratio 23 Revenues, Costs and Margins Per Barrel of Oil Equivalent 24 Additional Key Financial Information 28 9 Income Statements In millions of USD, except share data (in millions) and per share data (Unaudited) 2025 2026 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year Operating Revenues and Other Crude Oil and Condensate 3,293 2,974 3,243 2,991 12,501 3,577 4,901 8,478 Natural Gas Liquids 572 534 604 666 2,376 664 770 1,434 Natural Gas 637 600 707 847 2,791 1,021 812 1,833 Gains (Losses) on Mark-to-Market Financial Commodity and Other Derivative Contracts, Net (191) 107 116 (19) 13 113 40 153 Gathering, Processing and Marketing 1,340 1,247 1,178 1,149 4,914 1,496 2,011 3,507 Gains (Losses) on Asset Dispositions, Net (1) — (18) (16) (35) 31 58 89 Other, Net 19 16 17 20 72 19 28 47 Total 5,669 5,478 5,847 5,638 22,632 6,921 8,620 15,541 Operating Expenses Lease and Well 401 396 431 447 1,675 462 467 929 Gathering, Processing and Transportation Costs 440 455 587 652 2,134 654 676 1,330 Exploration Costs 41 74 71 50 236 45 47 92 Dry Hole Costs 34 11 — 4 49 23 30 53 Impairments 44 39 71 689 843 39 19 58 Marketing Costs 1,325 1,216 1,134 1,120 4,795 1,384 1,950 3,334 Depreciation, Depletion and Amortization 1,013 1,053 1,169 1,226 4,461 1,193 1,259 2,452 General and Administrative 171 186 239 224 820 185 213 398 Taxes Other Than Income 341 301 309 283 1,234 338 431 769 Total 3,810 3,731 4,011 4,695 16,247 4,323 5,092 9,415 Operating Income 1,859 1,747 1,836 943 6,385 2,598 3,528 6,126 Other Income, Net 65 55 59 33 212 23 38 61 Income Before Interest Expense and Income Taxes 1,924 1,802 1,895 976 6,597 2,621 3,566 6,187 Interest Expense, Net 47 51 71 66 235 66 67 133 Income Before Income Taxes 1,877 1,751 1,824 910 6,362 2,555 3,499 6,054 Income Tax Provision 414 406 353 209 1,382 575 775 1,350 Net Income 1,463 1,345 1,471 701 4,980 1,980 2,724 4,704 Dividends Declared per Common Share 0.9750 1.9950 — 1.0200 3.9900 1.0200 1.0200 2.0400 Net Income Per Share Basic 2.66 2.48 2.72 1.31 9.17 3.72 5.18 8.89 Diluted 2.65 2.46 2.70 1.30 9.12 3.70 5.15 8.84 Average Number of Common Shares Basic 550 543 541 537 543 532 526 529 Diluted 553 546 544 539 546 535 529 532 10 Volumes and Prices (Unaudited) 2025 2026 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year Crude Oil and Condensate Volumes (MBbld) (A) United States 500.9 503.1 532.9 544.5 520.5 546.5 546.2 546.3 Trinidad 1.2 1.1 1.6 1.5 1.4 1.9 2.1 2.0 Other International (B) — — — 0.1 — 0.1 0.5 0.3 Total 502.1 504.2 534.5 546.1 521.9 548.5 548.8 548.6 Average Crude Oil and Condensate Prices ($/Bbl) (C) United States $ 72.90 $ 64.84 $ 65.97 $ 59.54 $ 65.65 $ 72.48 $ 98.18 $ 85.40 Trinidad 61.12 54.50 57.74 57.07 57.59 68.91 88.87 79.20 Other International — — — 63.98 — 89.12 103.40 101.81 Composite 72.87 64.82 65.95 59.54 65.63 72.47 98.15 85.38 Natural Gas Liquids Volumes (MBbld) (A) United States 241.7 258.4 309.3 342.1 288.2 332.1 346.8 339.5 Total 241.7 258.4 309.3 342.1 288.2 332.1 346.8 339.5 Average Natural Gas Liquids Prices ($/Bbl) (C) United States $ 26.29 $ 22.70 $ 21.25 $ 21.15 $ 22.58 $ 22.20 $ 24.41 $ 23.34 Composite 26.29 22.70 21.25 21.15 22.58 22.20 24.41 23.34 Natural Gas Volumes (MMcfd) (A) United States 1,834 1,977 2,511 2,859 2,299 2,769 2,784 2,777 Trinidad 246 252 230 195 230 239 293 266 Other International (B) — — 4 11 4 12 12 12 Total 2,080 2,229 2,745 3,065 2,533 3,020 3,089 3,055 Average Natural Gas Prices ($/Mcf) (C) United States $ 3.36 $ 2.87 $ 2.71 $ 2.94 $ 2.94 $ 3.75 $ 2.77 $ 3.25 Trinidad 3.78 3.65 3.80 3.94 3.78 3.91 3.99 3.95 Other International (B) — — 3.27 3.29 3.28 3.26 3.27 3.27 Composite 3.41 2.96 2.80 3.00 3.02 3.76 2.89 3.32 Crude Oil Equivalent Volumes (MBoed) (D) United States 1,048.3 1,090.9 1,260.7 1,363.0 1,191.8 1,340.1 1,357.1 1,348.6 Trinidad 42.1 43.2 39.8 34.2 39.8 41.7 50.9 46.4 Other International — — 0.7 1.8 0.6 2.0 2.4 2.2 Total 1,090.4 1,134.1 1,301.2 1,399.0 1,232.2 1,383.8 1,410.4 1,397.2 Total MMBoe (D) 98.1 103.2 119.7 128.7 449.8 124.5 128.3 252.9 (A) Thousand barrels per day or million cubic feet per day, as applicable. (B) Crude oil and condensate volumes are from UAE and Bahrain operations. Natural gas volumes are from Bahrain operations; natural gas realized price represents contract price less partner's processing and distribution costs. (C) Dollars per barrel or per thousand cubic feet, as applicable. Excludes the impact of financial commodity and other derivative instruments (see Note 9 to the Condensed Consolidated Financial Statements in EOG's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2026). (D) Thousand barrels of oil equivalent per day or million barrels of oil equivalent, as applicable; includes crude oil and condensate, NGLs and natural gas. Crude oil equivalent volumes are determined using a ratio of 1.0 barrel of crude oil and condensate or NGLs to 6.0 thousand cubic feet of natural gas. MMBoe is calculated by multiplying the MBoed amount by the number of days in the period and then dividing that amount by one thousand. 11 Balance Sheets In millions of USD (Unaudited) 2025 2026 MAR JUN SEP DEC MAR JUN SEP DEC Current Assets Cash and Cash Equivalents 6,599 5,216 3,530 3,396 3,849 4,907 Accounts Receivable, Net 2,621 2,504 2,680 2,681 3,597 3,529 Inventories 897 934 945 1,014 955 930 Other (A) 563 591 665 565 562 511 Total 10,680 9,245 7,820 7,656 8,963 9,877 Property, Plant and Equipment Oil and Gas Properties (Successful Efforts Method) 78,432 80,139 88,301 89,857 90,786 92,454 Other Property, Plant and Equipment 6,510 6,616 6,772 6,832 6,942 7,064 Total Property, Plant and Equipment 84,942 86,755 95,073 96,689 97,728 99,518 Less: Accumulated Depreciation, Depletion and Amortization (50,310) (51,394) (52,488) (54,348) (55,054) (56,278) Total Property, Plant and Equipment, Net 34,632 35,361 42,585 42,341 42,674 43,240 Deferred Income Taxes 44 39 37 39 30 35 Other Assets 1,626 1,639 1,757 1,763 1,711 1,631 Total Assets 46,982 46,284 52,199 51,799 53,378 54,783 Current Liabilities Accounts Payable 2,353 2,266 2,944 2,904 3,186 3,374 Accrued Taxes Payable 668 348 392 299 766 697 Dividends Payable 534 1,081 550 544 541 531 Current Portion of Long-Term Debt 1,280 778 27 27 27 27 Current Portion of Operating Lease Liabilities 318 360 433 472 375 324 Other (A) 566 342 469 445 329 382 Total 5,719 5,175 4,815 4,691 5,224 5,335 Long-Term Debt 3,464 3,458 7,667 7,909 7,904 7,899 Other Liabilities 2,368 2,398 2,496 2,512 2,476 2,468 Deferred Income Taxes 5,915 6,015 6,936 6,854 6,866 7,217 Commitments and Contingencies (B) Stockholders' Equity Common Stock, $0.01 Par 206 206 206 206 206 206 Additional Paid in Capital 6,095 6,153 5,978 6,027 6,026 6,072 Accumulated Other Comprehensive Loss (4) (7) (5) (7) (6) (5) Retained Earnings 27,869 28,131 29,603 29,765 31,200 33,390 Common Stock Held in Treasury (4,650) (5,245) (5,497) (6,158) (6,518) (7,799) Total Stockholders' Equity 29,516 29,238 30,285 29,833 30,908 31,864 Total Liabilities and Stockholders' Equity 46,982 46,284 52,199 51,799 53,378 54,783 (A) Effective January 1, 2026, EOG combined Price Risk Management Activities into the Other line item. This presentation has been conformed for all periods presented and had no impact on previously reported Total Assets and Total Liabilities and Stockholders’s Equity. (B) See Note 5 to the Condensed Consolidated Financial Statements in EOG’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2026. 12 Cash Flow Statements In millions of USD (Unaudited) 2025 2026 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year Cash Flows from Operating Activities Reconciliation of Net Income to Net Cash Provided by Operating Activities: Net Income 1,463 1,345 1,471 701 4,980 1,980 2,724 4,704 Items Not Requiring (Providing) Cash Depreciation, Depletion and Amortization 1,013 1,053 1,169 1,226 4,461 1,193 1,259 2,452 Impairments 44 39 71 689 843 39 19 58 Stock-Based Compensation Expenses 50 53 53 60 216 58 60 118 Deferred Income Taxes 44 105 278 (84) 343 18 346 364 (Gains) Losses on Asset Dispositions, Net 1 — 18 16 35 (31) (58) (89) Other, Net 11 11 2 3 27 15 2 17 Dry Hole Costs 34 11 — 4 49 23 30 53 Mark-to-Market Financial Commodity and Other Derivative Contracts (Gains) Losses, Net 191 (107) (116) 19 (13) (113) (40) (153) Net Cash Received from (Payments for) Settlements of Financial Commodity Derivative Contracts (38) (24) 27 (21) (56) (53) 45 (8) Other, Net — — — (1) (1) — (1) (1) Changes in Components of Working Capital and Other Assets and Liabilities Accounts Receivable 48 122 133 (3) 300 (907) 60 (847) Inventories 76 (45) 4 (84) (49) 21 26 47 Accounts Payable (129) (107) 5 (40) (271) 279 176 455 Accrued Taxes Payable (339) (321) 28 (103) (735) 467 (69) 398 Other Assets (43) (43) (28) 97 (17) 55 47 102 Other Liabilities (96) (52) 155 10 17 (123) 37 (86) Changes in Components of Working Capital Associated with Investing Activities (41) (8) (159) 123 (85) 45 6 51 Net Cash Provided by Operating Activities 2,289 2,032 3,111 2,612 10,044 2,966 4,669 7,635 Investing Cash Flows Acquisition of Encino Acquisition Partners, LLC, Net of Cash Acquired — — (4,464) 13 (4,451) — — — Additions to Oil and Gas Properties (1,381) (1,699) (1,492) (1,543) (6,115) (1,491) (1,638) (3,129) Additions to Other Property, Plant and Equipment (102) (94) (171) (112) (479) (153) (144) (297) Proceeds from Sales of Assets 12 4 5 3 24 144 7 151 Changes in Components of Working Capital Associated with Investing Activities 41 8 159 (123) 85 (45) (6) (51) Net Cash Used in Investing Activities (1,430) (1,781) (5,963) (1,762) (10,936) (1,545) (1,781) (3,326) Financing Cash Flows Long-Term Debt Borrowings — — 3,472 999 4,471 — — — Long-Term Debt Repayments — (500) (1,266) (750) (2,516) — — — Dividends Paid (538) (528) (545) (550) (2,161) (544) (540) (1,084) Treasury Stock Purchased (806) (602) (479) (677) (2,564) (418) (1,299) (1,717) Proceeds from Stock Options Exercised and Employee Stock Purchase Plan — 11 — 12 23 1 15 16 Debt Issuance and Other Financing Costs — (7) (7) (11) (25) — — — Repayment of Finance Lease Liabilities (8) (9) (8) (7) (32) (7) (6) (13) Net Cash Used in Financing Activities (1,352) (1,635) 1,167 (984) (2,804) (968) (1,830) (2,798) Effect of Exchange Rate Changes on Cash — 1 (1) – — — – — Increase (Decrease) in Cash and Cash Equivalents (493) (1,383) (1,686) (134) (3,696) 453 1,058 1,511 Cash and Cash Equivalents at Beginning of Period 7,092 6,599 5,216 3,530 7,092 3,396 3,849 3,396 Cash and Cash Equivalents at End of Period 6,599 5,216 3,530 3,396 3,396 3,849 4,907 4,907 13 Non-GAAP Financial Measures To supplement the presentation of its financial results prepared in accordance with generally accepted accounting principles in the United States of America (GAAP), EOG’s quarterly earnings releases and related conference calls, accompanying earnings presentation slides and presentation slides for investor conferences contain certain financial measures that are not prepared or presented in accordance with GAAP. These non-GAAP financial measures may include, but are not limited to, Adjusted Net Income (Loss), Adjusted Cash Flow from Operations, Free Cash Flow, Net Debt and related statistics. A reconciliation of each of these measures to their most directly comparable GAAP financial measure and related discussion is included in the tables on the following pages and can also be found in the “Reconciliations & Guidance” section of the “Investors” page of the EOG website at www.eogresources.com. As further discussed in the tables on the following pages, EOG believes these measures may be useful to investors who follow the practice of some industry analysts who make certain adjustments to GAAP measures (for example, to exclude non-recurring items) to facilitate comparisons to others in EOG’s industry, and who utilize non-GAAP measures in their calculations of certain statistics (for example, return on capital employed and return on equity) used to evaluate EOG’s performance. EOG believes that the non-GAAP measures presented, when viewed in combination with its financial results prepared in accordance with GAAP, provide a more complete understanding of the factors and trends affecting the company’s performance. As is discussed in the tables on the following pages, EOG uses these non-GAAP measures for purposes of (i) comparing EOG’s financial performance with the financial performance of other companies in the industry and (ii) analyzing EOG’s financial performance across periods. The non-GAAP measures presented should not be considered in isolation, and should not be considered as a substitute for, or as an alternative to, EOG’s reported Net Income (Loss), Long-Term Debt (including Current Portion of Long-Term Debt), Net Cash Provided by Operating Activities and other financial results calculated in accordance with GAAP. The non-GAAP measures presented should be read in conjunction with EOG's consolidated financial statements prepared in accordance with GAAP. In addition, because not all companies use identical calculations, EOG’s presentation of non-GAAP measures may not be comparable to, and may be calculated differently from, similarly titled measures disclosed by other companies, including its peer companies. EOG may also change the calculation of one or more of its non-GAAP measures from time to time – for example, to account for changes in its business and operations or to more closely conform to peer company or industry analysts’ practices. Direct ATROR The calculation of EOG's direct after-tax rate of return (ATROR) is based on EOG’s net estimated recoverable reserves for a particular well(s) or play, the estimated net present value of the future net cash flows from such reserves (for which EOG utilizes certain assumptions regarding future commodity prices and operating costs) and EOG's direct net costs incurred in drilling or acquiring such well(s). As such, EOG's direct ATROR for a particular well(s) or play cannot be calculated from EOG’s consolidated financial statements. 14 Adjusted Net Income In millions of USD, except share data (in millions) and per share data (Unaudited) The following tables adjust reported Net Income (Loss) (GAAP) to reflect actual net cash received from (payments for) settlements of financial commodity derivative contracts by eliminating the net unrealized mark-to-market (gains) losses from these and other derivative transactions, to eliminate the net (gains) losses on asset dispositions, to add back impairment charges related to certain of EOG's assets (which are generally (i) attributable to declines in commodity prices, (ii) related to sales of certain oil and gas properties or (iii) the result of certain other events or decisions (e.g., a periodic review of EOG's oil and gas properties or other assets)), to add back costs associated with the Encino acquisition and to make certain other adjustments to exclude non-recurring and certain other items as further described below. EOG believes this presentation may be useful to investors who follow the practice of some industry analysts who adjust reported company earnings to match hedge realizations to production settlement months and make certain other adjustments to exclude non-recurring and certain other items. EOG management uses this information for purposes of comparing its financial performance with the financial performance of other companies in the industry. 2Q 2026 Before Tax Income Tax Impact After Tax Diluted Earnings per Share Reported Net Income (GAAP) 3,499 (775) 2,724 5.15 Adjustments: Gains on Mark-to-Market Financial Commodity and Other Derivative Contracts, Net (40) 9 (31) (0.06) Net Cash Received from Settlements of Financial Commodity Derivative Contracts (1) 45 (9) 36 0.07 Less: Gains on Asset Dispositions, Net (58) 12 (46) (0.09) Adjustments to Net Income (53) 12 (41) (0.08) Adjusted Net Income (Non-GAAP) 3,446 (763) 2,683 5.07 Average Number of Common Shares Basic 526 Diluted 529 (1) Consistent with its customary practice, in calculating Adjusted Net Income (Non-GAAP), EOG adds to reported Net Income (GAAP) the total net cash received from settlements of financial commodity derivative contracts during such period. For the three months ended June 30, 2026, such amount was $45 million. 15 Adjusted Net Income (Continued) In millions of USD, except share data (in millions) and per share data (Unaudited) 1Q 2026 Before Tax Income Tax Impact After Tax Diluted Earnings per Share Reported Net Income (GAAP) 2,555 (575) 1,980 3.70 Adjustments: Gains on Mark-to-Market Financial Commodity and Other Derivative Contracts, Net (113) 24 (89) (0.17) Net Cash Payments for Settlements of Financial Commodity Derivative Contracts (1) (53) 11 (42) (0.08) Less: Gains on Asset Dispositions, Net (31) 7 (24) (0.04) Adjustments to Net Income (197) 42 (155) (0.29) Adjusted Net Income (Non-GAAP) 2,358 (533) 1,825 3.41 Average Number of Common Shares Basic 532 Diluted 535 (1) Consistent with its customary practice, in calculating Adjusted Net Income (Non-GAAP), EOG subtracts from reported Net Income (GAAP) the total net cash paid for settlements of financial commodity derivative contracts during such period. For the three months ended March 31, 2026, such amount was $53 million. 4Q 2025 Before Tax Income Tax Impact After Tax Diluted Earnings per Share Reported Net Income (GAAP) 910 (209) 701 1.30 Adjustments: Losses on Mark-to-Market Financial Commodity and Other Derivative Contracts, Net 19 (4) 15 0.03 Net Cash Payments for Settlements of Financial Commodity Derivative Contracts (1) (21) 4 (17) (0.03) Add: Losses on Asset Dispositions, Net 16 (4) 12 0.02 Add: Certain Impairments (2) 646 (140) 506 0.94 Add: Acquisition-Related Costs (3) 8 (3) 5 0.01 Adjustments to Net Income 668 (147) 521 0.97 Adjusted Net Income (Non-GAAP) 1,578 (356) 1,222 2.27 Average Number of Common Shares Basic 537 Diluted 539 (1) Consistent with its customary practice, in calculating Adjusted Net Income (Non-GAAP), EOG subtracts from reported Net Income (GAAP) the total net cash paid for settlements of financial commodity derivative contracts during such period. For the three months ended December 31, 2025, such amount was $21 million. (2) Impairments primarily associated with the write-down to fair value of natural gas and crude oil assets in the Barnett Shale and Woodford Oil Window (mainly driven by play-specific economics and resource allocation). (3) Consists of Encino acquisition-related G&A costs ($8 million). 16 Adjusted Net Income (Continued) In millions of USD, except share data (in millions) and per share data (Unaudited) 3Q 2025 Before Tax Income Tax Impact After Tax Diluted Earnings per Share Reported Net Income (GAAP) 1,824 (353) 1,471 2.70 Adjustments: Gains on Mark-to-Market Financial Commodity and Other Derivative Contracts, Net (116) 25 (91) (0.16) Net Cash Received from Settlements of Financial Commodity Derivative Contracts (1) 27 (5) 22 0.04 Add: Losses on Asset Dispositions, Net 18 (6) 12 0.02 Add: Acquisition-Related Costs (2) 68 (10) 58 0.11 Adjustments to Net Income (3) 4 1 0.01 Adjusted Net Income (Non-GAAP) 1,821 (349) 1,472 2.71 Average Number of Common Shares Basic 541 Diluted 544 (1) Consistent with its customary practice, in calculating Adjusted Net Income (Non-GAAP), EOG adds to reported Net Income (GAAP) the total net cash received from settlements of financial commodity derivative contracts during such period. For the three months ended September 30, 2025, such amount was $27 million. (2) Consists of Encino acquisition-related G&A costs ($68 million). 2Q 2025 Before Tax Income Tax Impact After Tax Diluted Earnings per Share Reported Net Income (GAAP) 1,751 (406) 1,345 2.46 Adjustments: Gains on Mark-to-Market Financial Commodity and Other Derivative Contracts, Net (107) 23 (84) (0.16) Net Cash Payments for Settlements of Financial Commodity Derivative Contracts (1) (24) 5 (19) (0.03) Add: Certain Impairments 11 — 11 0.02 Add: Acquisition-Related Costs (2) 18 (3) 15 0.03 Adjustments to Net Income (102) 25 (77) (0.14) Adjusted Net Income (Non-GAAP) 1,649 (381) 1,268 2.32 Average Number of Common Shares Basic 543 Diluted 546 (1) Consistent with its customary practice, in calculating Adjusted Net Income (Non-GAAP), EOG subtracts from reported Net Income (GAAP) the total net cash paid for settlements of financial commodity derivative contracts during such period. For the three months ended June 30, 2025, such amount was $24 million. (2) Consists of Encino acquisition-related G&A costs ($12 million) and financing commitment costs ($6 million). 17 Adjusted Net Income (Continued) In millions of USD, except share data (in millions) and per share data (Unaudited) FY 2025 Before Tax Income Tax Impact After Tax Diluted Earnings per Share Reported Net Income (GAAP) 6,362 (1,382) 4,980 9.12 Adjustments: Gains on Mark-to-Market Financial Commodity and Other Derivative Contracts, Net (13) 3 (10) (0.02) Net Cash Payments for Settlements of Financial Commodity Derivative Contracts (1) (56) 12 (44) (0.08) Add: Losses on Asset Dispositions, Net 35 (8) 27 0.05 Add: Certain Impairments (2) 657 (140) 517 0.95 Add: Acquisition-Related Costs (3) 94 (16) 78 0.14 Adjustments to Net Income 717 (149) 568 1.04 Adjusted Net Income (Non-GAAP) 7,079 (1,531) 5,548 10.16 Average Number of Common Shares Basic 543 Diluted 546 (1) Consistent with its customary practice, in calculating Adjusted Net Income (Non-GAAP), EOG subtracts from reported Net Income (GAAP) the total net cash paid for settlements of financial commodity derivative contracts during such period. For the twelve months ended December 31, 2025, such amount was $56 million. (2) Impairments primarily associated with the write-down to fair value of natural gas and crude oil assets in the Barnett Shale and Woodford Oil Window (mainly driven by play-specific economics and resource allocation). (3) Consists of Encino acquisition-related G&A costs ($88 million) and financing commitment costs ($6 million). FY 2024 Before Tax Income Tax Impact After Tax Diluted Earnings per Share Reported Net Income (GAAP) 8,218 (1,815) 6,403 11.25 Adjustments: Gains on Mark-to-Market Financial Commodity and Other Derivative Contracts, Net (204) 44 (160) (0.28) Net Cash Received from Settlements of Financial Commodity Derivative Contracts (1) 214 (46) 168 0.30 Less: Gains on Asset Dispositions, Net (16) 3 (13) (0.02) Add: Certain Impairments (2) 291 (57) 234 0.41 Less: Severance Tax Refund (31) 7 (24) (0.04) Add: Severance Tax Consulting Fees 10 (2) 8 0.01 Less: Interest on Severance Tax Refund (5) 1 (4) (0.01) Adjustments to Net Income 259 (50) 209 0.37 Adjusted Net Income (Non-GAAP) 8,477 (1,865) 6,612 11.62 Average Number of Common Shares Basic 566 Diluted 569 (1) Consistent with its customary practice, in calculating Adjusted Net Income (Non-GAAP), EOG adds to reported Net Income (GAAP) the total net cash received from settlements of financial commodity derivative contracts during such period. For the twelve months ended December 31, 2024, such amount was $214 million. (2) Impairments primarily associated with the write-down to fair value of natural gas and crude oil assets in the Rocky Mountain area. 18 Net Income Per Share In millions of USD, except share data (in millions), per share data, production volume data and per Boe data (Unaudited) 1Q 2026 Net Income per Share (GAAP) - Diluted 3.70 Realized Prices 2Q 2026 Composite Average Revenue from Sales of Crude Oil and Condensate, NGLs, and Natural Gas per Boe 50.52 Less: 1Q 2026 Composite Average Revenue from Sales of Crude Oil and Condensate, NGLs, and Natural Gas per Boe (42.24) Subtotal 8.28 Multiplied by: 2Q 2026 Crude Oil Equivalent Volumes (MMBoe) 128.3 Total Change in Revenue 1,062 Add: Income Tax Benefit (Provision) Imputed (based on 22%) (234) Change in Net Income 828 Change in Diluted Earnings per Share 1.57 Volumes 2Q 2026 Crude Oil Equivalent Volumes (MMBoe) 128.3 Less: 1Q 2026 Crude Oil Equivalent Volumes (MMBoe) (124.5) Subtotal 3.8 Multiplied by: 2Q 2026 Composite Average Margin per Boe (GAAP) (Including Total Exploration Costs) (refer to "Revenues, Costs and Margins Per Barrel of Oil Equivalent" schedule below) 25.51 Change in Margin 97 Less: Income Tax Benefit (Provision) Imputed (based on 22%) (21) Change in Net Income 76 Change in Diluted Earnings per Share 0.14 Certain Operating Costs per Boe 1Q 2026 Total Cash Operating Costs (GAAP) and Total DD&A per Boe 20.03 Less: 2Q 2026 Total Cash Operating Costs (GAAP) and Total DD&A per Boe (20.38) Subtotal (0.35) Multiplied by: 2Q 2026 Crude Oil Equivalent Volumes (MMBoe) 128.3 Change in Before-Tax Net Income (45) Add: Income Tax Benefit (Provision) Imputed (based on 22%) 10 Change in Net Income (35) Change in Diluted Earnings per Share (0.07) Gains (Losses) on Mark-to-Market Financial Commodity and Other Derivative Contracts, Net 2Q 2026 Net Gains (Losses) on Mark-to-Market Financial Commodity and Other Derivative Contracts 40 Less: Income Tax Benefit (Provision) (9) After Tax - (a) 31 Less: 1Q 2026 Net Gains (Losses) on Mark-to-Market Financial Commodity and Other Derivative Contracts 113 Less: Income Tax Benefit (Provision) (24) After Tax - (b) 89 Change in Net Income - (a) - (b) (58) Change in Diluted Earnings per Share (0.11) Other (1) (0.08) 2Q 2026 Net Income per Share (GAAP) - Diluted 5.15 2Q 2026 Average Number of Common Shares - Diluted 529 (1) Includes gathering, processing and marketing revenue, gains (losses) on asset dispositions (for GAAP earnings per share only), other revenue, exploration costs, dry hole costs, impairments, marketing costs, taxes other than income, other income (expense), interest expense, the impact of changes in the effective income tax rate and the impact of share repurchases on diluted shares. 19 Adjusted Net Income Per Share In millions of USD, except share data (in millions), per share data, production volume data and per Boe data (Unaudited) 1Q 2026 Adjusted Net Income per Share (Non-GAAP) - Diluted 3.41 Realized Prices 2Q 2026 Composite Average Revenue from Sales of Crude Oil and Condensate, NGLs, and Natural Gas per Boe 50.52 Less: 1Q 2026 Composite Average Revenue from Sales of Crude Oil and Condensate, NGLs, and Natural Gas per Boe (42.24) Subtotal 8.28 Multiplied by: 2Q 2026 Crude Oil Equivalent Volumes (MMBoe) 128.3 Total Change in Revenue 1,062 Add: Income Tax Benefit (Provision) Imputed (based on 22%) (234) Change in Net Income 828 Change in Diluted Earnings per Share 1.57 Volumes 2Q 2026 Crude Oil Equivalent Volumes (MMBoe) 128.3 Less: 1Q 2026 Crude Oil Equivalent Volumes (MMBoe) (124.5) Subtotal 3.8 Multiplied by: 2Q 2026 Composite Average Margin per Boe (Non-GAAP) (Including Total Exploration Costs) (refer to "Revenues, Costs and Margins Per Barrel of Oil Equivalent" schedule below) 25.51 Change in Margin 97 Less: Income Tax Benefit (Provision) Imputed (based on 22%) (21) Change in Net Income 76 Change in Diluted Earnings per Share 0.14 Certain Operating Costs per Boe 1Q 2026 Total Cash Operating Costs (Non-GAAP) and Total DD&A per Boe 20.03 Less: 2Q 2026 Total Cash Operating Costs (Non-GAAP) and Total DD&A per Boe (20.38) Subtotal (0.35) Multiplied by: 2Q 2026 Crude Oil Equivalent Volumes (MMBoe) 128.3 Change in Before-Tax Net Income (45) Add: Income Tax Benefit (Provision) Imputed (based on 22%) 10 Change in Net Income (35) Change in Diluted Earnings per Share (0.07) Net Cash Received from (Payments for) Settlements of Financial Commodity Derivative Contracts 2Q 2026 Net Cash Received from (Payments for) Settlements of Financial Commodity Derivative Contracts 45 Less: Income Tax Benefit (Provision) (9) After Tax - (a) 36 Less: 1Q 2026 Net Cash Received from (Payments for) Settlements of Financial Commodity Derivative Contracts (53) Less: Income Tax Benefit (Provision) 11 After Tax - (b) (42) Change in Net Income - (a) - (b) 78 Change in Diluted Earnings per Share 0.15 Other (1) (0.13) 2Q 2026 Adjusted Net Income per Share (Non-GAAP) 5.07 2Q 2026 Average Number of Common Shares - Diluted 529 (1) Includes gathering, processing and marketing revenue, other revenue, exploration costs, dry hole costs, impairments, marketing costs, taxes other than income, other income (expense), interest expense, the impact of changes in the effective income tax rate and the impact of share repurchases on diluted shares. 20 Cash Flow from Operations and Free Cash Flow In millions of USD (Unaudited) The following tables reconcile Net Cash Provided by Operating Activities (GAAP) to Adjusted Cash Flow from Operations (Non-GAAP). EOG believes this presentation may be useful to investors who follow the practice of some industry analysts who adjust Net Cash Provided by Operating Activities for Changes in Components of Working Capital and Other Assets and Liabilities, Changes in Components of Working Capital Associated with Investing Activities (or Investing and Financing Activities, as applicable) and certain other adjustments to exclude certain non-recurring items and other items as further described below. EOG defines Free Cash Flow (Non-GAAP) for a given period as Adjusted Cash Flow from Operations (Non-GAAP) (see below reconciliation) for such period less the Total Capital Expenditures (Non-GAAP) (see below reconciliation) during such period, as is illustrated below. EOG management uses this information for comparative purposes within the industry. As indicated in the tables below, EOG is (1) in addition to its customary working capital-related adjustments, adjusting Net Cash Provided by Operating Activities (GAAP) to add back certain non-recurring acquisition-related costs incurred during the second, third and fourth quarters of 2025 and (2) now presenting such adjusted measure as “Adjusted Cash Flow from Operations (Non-GAAP)” (instead of “Cash Flow from Operations Before Changes in Working Capital (Non-GAAP)” as reported in prior periods); the presentation below with respect to the second, third and fourth quarters of 2025 and the prior periods shown has been conformed. 2025 2026 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year Net Cash Provided by Operating Activities (GAAP) 2,289 2,032 3,111 2,612 10,044 2,966 4,669 7,635 Adjustments: Changes in Components of Working Capital and Other Assets and Liabilities Accounts Receivable (48) (122) (133) 3 (300) 907 (60) 847 Inventories (76) 45 (4) 84 49 (21) (26) (47) Accounts Payable 129 107 (5) 40 271 (279) (176) (455) Accrued Taxes Payable 339 321 (28) 103 735 (467) 69 (398) Other Assets 43 43 28 (97) 17 (55) (47) (102) Other Liabilities 96 52 (155) (10) (17) 123 (37) 86 Changes in Components of Working Capital Associated with Investing Activities 41 8 159 (123) 85 (45) (6) (51) Add: Acquisition-Related Costs (1) , Net of Tax — 10 58 5 73 — — — Adjusted Cash Flow from Operations (Non-GAAP) 2,813 2,496 3,031 2,617 10,957 3,129 4,386 7,515 Less: Total Capital Expenditures (Non-GAAP) (2) (1,484) (1,523) (1,648) (1,639) (6,294) (1,636) (1,587) (3,223) Free Cash Flow (Non-GAAP) 1,329 973 1,383 978 4,663 1,493 2,799 4,292 (1) Consists of Encino acquisition-related G&A costs of $12 million, $68 million and $8 million (each before tax) for the three months ended June 30, 2025, three months ended September 30, 2025 and three months ended December 31, 2025, respectively. (2) See below reconciliation of Total Expenditures (GAAP) to Total Capital Expenditures (Non-GAAP): 2025 2026 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year Total Expenditures (GAAP) 1,546 1,883 8,544 1,730 13,703 1,768 1,919 3,687 Less: Asset Retirement Costs (13) (14) (86) (33) (146) (12) (37) (49) Non-Cash Leasehold Acquisition Costs (3) (9) (2) (3) (10) (24) (52) (53) (105) Non-Cash Property Acquisition Costs — — — — — — (2) (2) Acquisition Costs of Properties (3) 1 (270) (6,736) 2 (7,003) (23) (193) (216) Exploration Costs (41) (74) (71) (50) (236) (45) (47) (92) Total Capital Expenditures (Non-GAAP) 1,484 1,523 1,648 1,639 6,294 1,636 1,587 3,223 21 Cash Flow from Operations and Free Cash Flow (Continued) In millions of USD (Unaudited) FY 2024 FY 2023 FY 2022 FY 2021 Net Cash Provided by Operating Activities (GAAP) 12,143 11,340 11,093 8,791 Adjustments: Changes in Components of Working Capital and Other Assets and Liabilities Accounts Receivable (101) 38 347 821 Inventories (259) 231 534 13 Accounts Payable 36 119 (90) (456) Accrued Taxes Payable (541) (61) 113 (312) Other Assets (44) (39) 364 136 Other Liabilities (23) (184) 266 116 Changes in Components of Working Capital Associated with Investing Activities 382 (295) (375) 200 Adjusted Cash Flow from Operations (Non-GAAP) 11,593 11,149 12,252 9,309 Less: Total Capital Expenditures (Non-GAAP) (2) (6,226) (6,041) (4,607) (3,755) Free Cash Flow (Non-GAAP) 5,367 5,108 7,645 5,554 (2) See below reconciliation of Total Expenditures (GAAP) to Total Capital Expenditures (Non-GAAP): Total Expenditures (GAAP) 6,653 6,818 5,610 4,255 Less: Asset Retirement Costs 2 (257) (298) (127) Non-Cash Development Drilling — (90) — — Non-Cash Leasehold Acquisition Costs (3) (85) (99) (127) (45) Non-Cash Finance Leases — — — (74) Acquisition Costs of Properties (3) (33) (16) (419) (100) Acquisition Costs of Other Property, Plant and Equipment (137) (134) — — Exploration Costs (174) (181) (159) (154) Total Capital Expenditures (Non-GAAP) 6,226 6,041 4,607 3,755 (3) Line item descriptions revised (from descriptions shown in EOG's previously published tables) to more accurately describe the costs reflected therein; previously reported cost amounts not impacted by such changes in presentation. 22 Net Debt-to-Total Capitalization Ratio In millions of USD, except ratio data (Unaudited) The following tables reconcile Current and Long-Term Debt (GAAP) to Net Debt (Non-GAAP) and Total Capitalization (GAAP) to Total Capitalization (Non-GAAP), as used in the Net Debt-to-Total Capitalization ratio calculation. A portion of the cash is associated with international subsidiaries; tax considerations may impact debt paydown. EOG believes this presentation may be useful to investors who follow the practice of some industry analysts who utilize Net Debt and Total Capitalization (Non-GAAP) in their Net Debt-to-Total Capitalization ratio calculation. EOG management uses this information for comparative purposes within the industry. June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 Total Stockholders' Equity - (a) 31,864 30,908 29,833 30,285 29,238 Current and Long-Term Debt (GAAP) - (b) 7,926 7,931 7,936 7,694 4,236 Less: Cash (4,907) (3,849) (3,396) (3,530) (5,216) Net Debt (Non-GAAP) - (c) 3,019 4,082 4,540 4,164 (980) Total Capitalization (GAAP) - (a) + (b) 39,790 38,839 37,769 37,979 33,474 Total Capitalization (Non-GAAP) - (a) + (c) 34,883 34,990 34,373 34,449 28,258 Debt-to-Total Capitalization (GAAP) - (b) / [(a) + (b)] 19.9 % 20.4 % 21.0 % 20.3 % 12.7 % Net Debt-to-Total Capitalization (Non-GAAP) - (c) / [(a) + (c)] 8.7 % 11.7 % 13.2 % 12.1 % -3.5 % 23 Revenues, Costs and Margins Per Barrel of Oil Equivalent In millions of USD, except Boe and per Boe amounts (Unaudited) EOG believes this presentation may be useful to investors who follow the practice of some industry analysts who review certain components and/or groups of components of revenues, costs and/or margins per barrel of oil equivalent (Boe). Certain of these components are adjusted for non-recurring and certain other items, as further discussed below. EOG management uses this information for purposes of comparing its financial performance with the financial performance of other companies in the industry. 2Q 2026 1Q 2026 4Q 2025 3Q 2025 2Q 2025 Volume - Million Barrels of Oil Equivalent - (a) 128.3 124.5 128.7 119.7 103.2 Total Operating Revenues and Other - (b) 8,620 6,921 5,638 5,847 5,478 Total Operating Expenses - (c) 5,092 4,323 4,695 4,011 3,731 Operating Income - (d) 3,528 2,598 943 1,836 1,747 Revenues from Sales of Crude Oil and Condensate, NGLs, and Natural Gas Crude Oil and Condensate 4,901 3,577 2,991 3,243 2,974 Natural Gas Liquids 770 664 666 604 534 Natural Gas 812 1,021 847 707 600 Total Revenues from Sales of Crude Oil and Condensate, NGLs, and Natural Gas - (e) 6,483 5,262 4,504 4,554 4,108 Operating Costs Lease and Well 467 462 447 431 396 Gathering, Processing and Transportation Costs (1) 676 654 652 587 455 General and Administrative (GAAP) 213 185 224 239 186 Less: Certain Items (see Endnote 2 to 2Q 2026 earnings release) — — (8) (68) (12) General and Administrative (Non-GAAP) (2) 213 185 216 171 174 Taxes Other Than Income (GAAP) 431 338 283 309 301 Add: Severance Tax Refund — — — — — Taxes Other Than Income (Non-GAAP) (3) 431 338 283 309 301 Interest Expense, Net 67 66 66 71 51 Less: Acquisition-Related Financing Commitment Costs — — — — (6) Interest Expense, Net (Non-GAAP) (4) 67 66 66 71 45 Total Operating Cost (GAAP) (excluding DD&A and Total Exploration Costs) - (f) 1,854 1,705 1,672 1,637 1,389 Total Operating Cost (Non-GAAP) (excluding DD&A and Total Exploration Costs) - (g) 1,854 1,705 1,664 1,569 1,371 Depreciation, Depletion and Amortization (DD&A) 1,259 1,193 1,226 1,169 1,053 Total Operating Cost (GAAP) (excluding Total Exploration Costs) - (h) 3,113 2,898 2,898 2,806 2,442 Total Operating Cost (Non-GAAP) (excluding Total Exploration Costs) - (i) 3,113 2,898 2,890 2,738 2,424 Exploration Costs 47 45 50 71 74 Dry Hole Costs 30 23 4 — 11 Impairments 19 39 689 71 39 Total Exploration Costs (GAAP) 96 107 743 142 124 Less: Certain Impairments (5) — — (646) — (11) Total Exploration Costs (Non-GAAP) 96 107 97 142 113 Total Operating Cost (GAAP) (including Total Exploration Costs (GAAP)) - (j) 3,209 3,005 3,641 2,948 2,566 Total Operating Cost (Non-GAAP) (including Total Exploration Costs (Non-GAAP)) - (k) 3,209 3,005 2,987 2,880 2,537 Total Revenues from Sales of Crude Oil and Condensate, NGLs, and Natural Gas less Total Operating Cost (GAAP) (including Total Exploration Costs (GAAP)) 3,274 2,257 863 1,606 1,542 Total Revenues from Sales of Crude Oil and Condensate, NGLs, and Natural Gas less Total Operating Cost (Non-GAAP) (including Total Exploration Costs (Non-GAAP)) 3,274 2,257 1,517 1,674 1,571 24 Revenues, Costs and Margins Per Barrel of Oil Equivalent (Continued) In millions of USD, except Boe and per Boe amounts (Unaudited) 2Q 2026 1Q 2026 4Q 2025 3Q 2025 2Q 2025 Per Barrel of Oil Equivalent (Boe) Calculations (GAAP) Composite Average Operating Revenues and Other per Boe - (b) / (a) 67.19 55.59 43.81 48.85 53.08 Composite Average Operating Expenses per Boe - (c) / (a) 39.69 34.72 36.48 33.51 36.15 Composite Average Operating Income per Boe - (d) / (a) 27.50 20.87 7.33 15.34 16.93 Composite Average Revenue from Sales of Crude Oil and Condensate, NGLs, and Natural Gas per Boe - (e) / (a) 50.52 42.24 34.99 38.05 39.80 Total Operating Cost per Boe (excluding DD&A and Total Exploration Costs) - (f) / (a) 14.45 13.69 12.99 13.67 13.46 Composite Average Margin per Boe (excluding DD&A and Total Exploration Costs) - [(e) / (a) - (f) / (a)] 36.07 28.55 22.00 24.38 26.34 Total Operating Cost per Boe (excluding Total Exploration Costs) - (h) / (a) 24.26 23.27 22.52 23.44 23.66 Composite Average Margin per Boe (excluding Total Exploration Costs) - [(e) / (a) - (h) / (a)] 26.26 18.97 12.47 14.61 16.14 Total Operating Cost per Boe (including Total Exploration Costs) - (j) / (a) 25.01 24.13 28.29 24.63 24.86 Composite Average Margin per Boe (including Total Exploration Costs) - [(e) / (a) - (j) / (a)] 25.51 18.11 6.70 13.42 14.94 Per Barrel of Oil Equivalent (Boe) Calculations (Non-GAAP) Total Operating Cost per Boe (excluding DD&A and Total Exploration Costs) - (g) / (a) 14.45 13.69 12.93 13.10 13.30 Composite Average Margin per Boe (excluding DD&A and Total Exploration Costs) - [(e) / (a) - (g) / (a)] 36.07 28.55 22.06 24.95 26.50 Total Operating Cost per Boe (excluding Total Exploration Costs) - (i) / (a) 24.26 23.27 22.46 22.87 23.50 Composite Average Margin per Boe (excluding Total Exploration Costs) - [(e) / (a) - (i) / (a)] 26.26 18.97 12.53 15.18 16.30 Total Operating Cost per Boe (including Total Exploration Costs) - (k) / (a) 25.01 24.13 23.21 24.06 24.59 Composite Average Margin per Boe (including Total Exploration Costs) - [(e) / (a) - (k) / (a)] 25.51 18.11 11.78 13.99 15.21 25 Revenues, Costs and Margins Per Barrel of Oil Equivalent (Continued) In millions of USD, except Boe and per Boe amounts (Unaudited) 2025 2024 2023 2022 2021 Volume - Million Barrels of Oil Equivalent - (a) 449.8 388.7 359.4 331.5 302.5 Total Operating Revenues and Other - (b) 22,632 23,698 24,186 25,702 18,642 Total Operating Expenses - (c) 16,247 15,616 14,583 15,736 12,540 Operating Income (Loss) - (d) 6,385 8,082 9,603 9,966 6,102 Revenues from Sales of Crude Oil and Condensate, NGLs, and Natural Gas Crude Oil and Condensate 12,501 13,921 13,748 16,367 11,125 Natural Gas Liquids 2,376 2,106 1,884 2,648 1,812 Natural Gas 2,791 1,551 1,744 3,781 2,444 Total Revenues from Sales of Crude Oil and Condensate, NGLs, and Natural Gas - (e) 17,668 17,578 17,376 22,796 15,381 Operating Costs Lease and Well 1,675 1,572 1,454 1,331 1,135 Gathering, Processing and Transportation Costs (1) 2,134 1,722 1,620 1,587 1,422 General and Administrative (GAAP) 820 669 640 570 511 Less: Certain Items (see Endnote 7 to Additional Key Financial Information below) (88) (10) — (16) — General and Administrative (Non-GAAP) (2) 732 659 640 554 511 Taxes Other Than Income (GAAP) 1,234 1,249 1,284 1,585 1,047 Add: Severance Tax Refund — 31 — 115 — Taxes Other Than Income (Non-GAAP) (3) 1,234 1,280 1,284 1,700 1,047 Interest Expense, Net 235 138 148 179 178 Less: Acquisition-Related Financing Commitment Costs (6) — — — — Interest Expense, Net (Non-GAAP) (4) 229 138 148 179 178 Total Operating Cost (GAAP) (excluding DD&A and Total Exploration Costs) - (f) 6,098 5,350 5,146 5,252 4,293 Total Operating Cost (Non-GAAP) (excluding DD&A and Total Exploration Costs) - (g) 6,004 5,371 5,146 5,351 4,293 Depreciation, Depletion and Amortization (DD&A) 4,461 4,108 3,492 3,542 3,651 Total Operating Cost (GAAP) (excluding Total Exploration Costs) - (h) 10,559 9,458 8,638 8,794 7,944 Total Operating Cost (Non-GAAP) (excluding Total Exploration Costs) - (i) 10,465 9,479 8,638 8,893 7,944 Exploration Costs 236 174 181 159 154 Dry Hole Costs 49 14 1 45 71 Impairments 843 391 202 382 376 Total Exploration Costs (GAAP) 1,128 579 384 586 601 Less: Certain Impairments (5) (657) (291) (42) (113) (15) Total Exploration Costs (Non-GAAP) 471 288 342 473 586 Total Operating Cost (GAAP) (including Total Exploration Costs (GAAP)) - (j) 11,687 10,037 9,022 9,380 8,545 Total Operating Cost (Non-GAAP) (including Total Exploration Costs (Non-GAAP)) - (k) 10,936 9,767 8,980 9,366 8,530 Total Revenues from Sales of Crude Oil and Condensate, NGLs, and Natural Gas less Total Operating Cost (GAAP) (including Total Exploration Costs (GAAP)) 5,981 7,541 8,354 13,416 6,836 Total Revenues from Sales of Crude Oil and Condensate, NGLs, and Natural Gas less Total Operating Cost (Non-GAAP) (including Total Exploration Costs (Non-GAAP)) 6,732 7,811 8,396 13,430 6,851 26 Revenues, Costs and Margins Per Barrel of Oil Equivalent (Continued) In millions of USD, except Boe and per Boe amounts (Unaudited) 2025 2024 2023 2022 2021 Per Barrel of Oil Equivalent (Boe) Calculations (GAAP) Composite Average Operating Revenues and Other per Boe - (b) / (a) 50.32 60.97 67.30 77.53 61.63 Composite Average Operating Expenses per Boe - (c) / (a) 36.12 40.18 40.58 47.47 41.46 Composite Average Operating Income (Loss) per Boe - (d) / (a) 14.20 20.79 26.72 30.06 20.17 Composite Average Revenue from Sales of Crude Oil and Condensate, NGLs, and Natural Gas per Boe - (e) / (a) 39.28 45.22 48.34 68.77 50.84 Total Operating Cost per Boe (excluding DD&A and Total Exploration Costs) - (f) / (a) 13.54 13.76 14.31 15.84 14.19 Composite Average Margin per Boe (excluding DD&A and Total Exploration Costs) - [(e) / (a) - (f) / (a)] 25.74 31.46 34.03 52.93 36.65 Total Operating Cost per Boe (excluding Total Exploration Costs) - (h) / (a) 23.46 24.33 24.03 26.53 26.26 Composite Average Margin per Boe (excluding Total Exploration Costs) - [(e) / (a) - (h) / (a)] 15.82 20.89 24.31 42.24 24.58 Total Operating Cost per Boe (including Total Exploration Costs) - (j) / (a) 25.97 25.82 25.10 28.30 28.25 Composite Average Margin per Boe (including Total Exploration Costs) - [(e) / (a) - (j) / (a)] 13.31 19.40 23.24 40.47 22.59 Per Barrel of Oil Equivalent (Boe) Calculations (Non-GAAP) Total Operating Cost per Boe (excluding DD&A and Total Exploration Costs) - (g) / (a) 13.34 13.82 14.31 16.14 14.19 Composite Average Margin per Boe (excluding DD&A and Total Exploration Costs) - [(e) / (a) - (g) / (a)] 25.94 31.40 34.03 52.63 36.65 Total Operating Cost per Boe (excluding Total Exploration Costs) - (i) / (a) 23.26 24.39 24.03 26.83 26.26 Composite Average Margin per Boe (excluding Total Exploration Costs) - [(e) / (a) - (i) / (a)] 16.02 20.83 24.31 41.94 24.58 Total Operating Cost per Boe (including Total Exploration Costs) - (k) / (a) 24.31 25.13 24.98 28.26 28.20 Composite Average Margin per Boe (including Total Exploration Costs) - [(e) / (a) - (k) / (a)] 14.97 20.09 23.36 40.51 22.64 (1) Effective January 1, 2024, EOG combined Transportation Costs and Gathering and Processing Costs into one line item titled Gathering, Processing and Transportation Costs. This presentation has been conformed for all periods presented and had no impact on previously reported Net Income. (2) EOG believes excluding the above-referenced items from General and Administrative Costs is appropriate and provides useful information to investors, as EOG views such items as non-recurring. (3) EOG believes excluding the above-referenced items from Taxes Other Than Income is appropriate and provides useful information to investors, as EOG views such items as non-recurring. (4) EOG believes excluding the above-referenced items from Interest Expense, Net is appropriate and provides useful information to investors, as EOG views such items as non-recurring. (5) In general, EOG excludes impairments which are (i) attributable to declines in commodity prices, (ii) related to sales of certain oil and gas properties or (iii) the result of certain other events or decisions (e.g., a periodic review of EOG's oil and gas properties or other assets). EOG believes excluding these impairments from total exploration costs is appropriate and provides useful information to investors, as such impairments were caused by factors outside of EOG’s control (versus, for example, impairments that are due to EOG’s proved oil and gas properties not being as productive as it originally estimated). 27 Additional Key Financial Information (Unaudited) See “ Endnotes ” below for related discussion and definitions. 2025 Actual 2024 Actual 2023 Actual 2022 Actual 2021 Actual Crude Oil and Condensate Volumes (MBod) United States 520.5 490.6 475.2 460.7 443.4 Trinidad 1.4 0.8 0.6 0.6 1.5 Other International — — — — 0.1 Total 521.9 491.4 475.8 461.3 445.0 Natural Gas Liquids Volumes (MBbld) Total 288.2 245.9 223.8 197.7 144.5 Natural Gas Volumes (MMcfd) United States 2,299 1,728 1,551 1,315 1,210 Trinidad 230 220 160 180 217 Other International 1 4 — — — 9 Total 2,533 1,948 1,711 1,495 1,436 Crude Oil Equivalent Volumes (MBoed) United States 1,191.8 1,024.5 957.5 877.5 789.6 Trinidad 39.8 37.6 27.3 30.7 37.7 Other International 0.6 — — — 1.6 Total 1,232.2 1,062.1 984.8 908.2 828.9 Benchmark Price Oil (WTI) ($/Bbl) 64.78 75.72 77.61 94.23 67.96 Natural Gas (HH) ($/Mcf) 3.43 2.27 2.74 6.64 3.85 Crude Oil and Condensate - above (below) WTI 2 ($/Bbl) United States 0.87 1.70 1.57 2.99 0.58 Trinidad (7.19) (11.29) (9.03) (8.07) (11.70) Other International 0.36 — — — — Natural Gas Liquids - Realizations as % of WTI Total 34.9 % 30.9 % 29.7 % 39.0 % 50.5 % Natural Gas - above (below) NYMEX Henry Hub 3 ($/Mcf) United States (0.49) (0.28) (0.04) 0.63 1.03 Natural Gas Realizations 4 ($/Mcf) Trinidad 3.78 3.65 3.65 4.43 3.40 Other International 1 3.28 — — — — Total Expenditures (GAAP) ($MM) 13,703 6,653 6,818 5,610 4,255 Capital Expenditures 5 (Non-GAAP) ($MM) 6,294 6,226 6,041 4,607 3,755 Operating Unit Costs ($/Boe) Lease and Well 3.72 4.04 4.05 4.02 3.75 Gathering, Processing and Transportation Costs 6 4.74 4.43 4.50 4.78 4.70 General and Administrative (GAAP) 1.82 1.72 1.78 1.72 1.69 General and Administrative (Non-GAAP) 7 1.63 1.70 1.78 1.67 1.69 Cash Operating Costs (GAAP) 10.28 10.19 10.33 10.52 10.14 Cash Operating Costs (Non-GAAP) 7 10.09 10.17 10.33 10.47 10.14 Depreciation, Depletion and Amortization 9.92 10.57 9.72 10.69 12.07 Expenses ($MM) Exploration and Dry Hole 285 188 182 204 225 Impairment (GAAP) 843 391 202 382 376 Impairment (excluding certain impairments (Non-GAAP)) 8 186 100 160 269 361 Capitalized Interest 86 45 33 36 33 Net Interest 235 138 148 179 178 Net Interest (Non-GAAP) 9 229 — — — — TOTI (% of revenues from sales of crude oil and condensate, NGLs and natural gas) (GAAP) 7.0 % 7.1 % 7.4 % 7.0 % 6.8 % (Non-GAAP) 7 7.0 % 7.3 % 7.4 % 7.5 % 6.8 % Income Taxes Effective Rate 21.7 % 22.1 % 21.6 % 21.7 % 21.4 % Current Tax Expense ($MM) 1,039 1,348 1,415 2,208 1,393 28 Additional Key Financial Information (Continued) Endnotes 1) 2025 volumes are from Bahrain operations; natural gas realized price represents contract price less partner’s processing and distribution costs. 2) EOG bases United States, Trinidad and Other International crude oil and condensate price differentials upon the West Texas Intermediate crude oil price at Cushing, Oklahoma, using the simple average of the daily settlement prices for the prompt-month NYMEX futures contract for each of the applicable calendar months. 3) EOG bases United States natural gas price differentials upon the natural gas price at Henry Hub, Louisiana, using the NYMEX Last Day Settle price for each of the applicable months. 4) The full-year 2022 realized natural gas price for Trinidad includes a one-time pricing adjustment of $0.76/Mcf for prior-period production following a contract amendment with the National Gas Company of Trinidad and Tobago Limited. 5) Capital Expenditures include expenditures for Exploration and Development Drilling, Facilities, Leasehold Acquisitions, Capitalized Interest, Dry Hole Costs and Other Property, Plant and Equipment. Capital Expenditures exclude Property Acquisitions, Asset Retirement Costs, Non-Cash Exchanges and Transactions and exploration costs incurred as operating expenses. 6) Effective January 1, 2024, EOG combined Transportation Costs and Gathering and Processing Costs into one line item titled Gathering, Processing and Transportation Costs. This presentation has been conformed for all periods presented and had no impact on previously reported Net Income. 7) Cash Operating Costs consist of LOE, GP&T and G&A. G&A (Non-GAAP) for fiscal year 2025 excludes costs related to the Encino acquisition, as reflected in the accompanying reconciliation schedules (see “Revenues, Costs and Margins Per Barrel of Oil Equivalent”). In addition, TOTI (% of revenues from sales of crude oil and condensate, NGLs and natural gas) (Non-GAAP) and G&A (Non-GAAP) for fiscal year 2024 and fiscal year 2022 exclude a state severance tax refund and related consulting fees, respectively, as reflected in the accompanying reconciliation schedules (see “Revenues, Costs and Margins Per Barrel of Oil Equivalent”). The per-Boe impact of such acquisition-related costs and consulting fees on G&A and total Cash Operating Costs for fiscal year 2025, 2024 and 2022 was $(0.19), $(0.02) and $(0.05), respectively. 8) In general, EOG excludes impairments which are (i) attributable to declines in commodity prices, (ii) related to sales of certain oil and gas properties or (iii) the result of certain other events or decisions (e.g., a periodic review of EOG’s oil and gas properties or other assets). EOG believes excluding these impairments from total impairment costs is appropriate and provides useful information to investors, as such impairments were caused by factors outside of EOG’s control (versus, for example, impairments that are due to EOG’s proved oil and gas properties not being as productive as it originally estimated). Impairments (Non-GAAP) for FY 2025 are adjusted from Impairments (GAAP) for FY 2025 by excluding $657 million of impairments, primarily associated with the write-down to fair value of natural gas and crude oil assets in the Barnett Shale and Woodford Oil Window (mainly driven by play-specific economics and resource allocation). Impairments (Non-GAAP) for FY 2024 are adjusted from Impairments (GAAP) for FY 2024 by excluding $291 million of impairments, primarily associated with the write-down to fair value of natural gas and crude oil assets in the Rocky Mountain area. 9) Net Interest for fiscal year 2025 excludes financing commitment costs related to the Encino acquisition, as reflected in the accompanying reconciliation schedules (see “Revenues, Costs and Margins Per Barrel of Oil Equivalent”). The per-Boe impact of such cost for fiscal year 2025 is $(0.01). 29

the item shown at left

other guidance in this release

Text is the filed exhibit, verbatim.