Crude Oil & Condensate Volumes

+~1.75% (FY 2024: 491.4 MBod vs. Q1 2025 Guidance midpoint: ~500 MBod)

The slight increase is aligned with EOG’s announced production growth targets (6% overall and 3% for oil) and supported by a $6.2 billion capital plan, which underpins ongoing investments in production capacity. " "

Natural Gas Liquids Volumes

-~2.8% (FY 2024: 245.9 MBbld vs. Q1 2025 Guidance midpoint: 239 MBbld)

The modest decline appears to reflect an adjustment in the production mix, possibly due to seasonal market demands and strategic shifts in operational focus. "

Natural Gas Volumes

+~4% (FY 2024: 1,948 MMcfd vs. Q1 2025 Guidance midpoint: 2,025 MMcfd)

This increase is driven by enhanced production capacity and a renewed commitment to ramp up natural gas output, in line with the company’s growth plans and capital allocation priorities. " "

Capital Expenditures

Essentially flat when annualized (FY 2024: $6,226M annually vs. Q1 2025 Guidance: ~$1,525M for Q1, ~ $6,100M annualized)

The quarterly capital expenditure guidance remains consistent with FY figures when annualized, indicating that EOG is maintaining steady investment levels to support production growth without any significant upward or downward shifts. "

Benchmark Prices

Stable (Crude oil at $75.72/Bbl and Natural gas at $2.27/Mcf remain unchanged across periods)

Assumptions for benchmark prices are consistent, although slight variances in natural gas pricing compared to previous quarters may be due to seasonal market adjustments and changing market dynamics. "

Operating Unit Costs

Increased (from $3.91/Boe in Q4 2024 to a guidance range of $4.00–$4.50/Boe in Q1 2025)

The rise in operating costs likely reflects inflationary pressures and incremental increases in lease and well costs as the company ramps up operations under its growth strategy. "