EOG Resources, Inc. reported a net gain of $298 million from mark-to-market financial commodity derivative contracts for the fourth quarter of 2023. The company also received $18 million in net cash from settlements of these contracts during the same period. These figures will be factored into the calculation of EOG's Adjusted Net Income (Non-GAAP) for the quarter, which will be reported in full on February 22, 2024. EOG engages in various financial derivative transactions, including price swap, option, and basis swap contracts, to manage price risk and enhance the certainty of future revenues and cash flows. The company's actual realizations for crude oil and natural gas differed from NYMEX prices due to factors such as delivery location and quality adjustments...Show More

EOG Resources, Inc. reported a net gain of $298 million from mark-to-market financial commodity derivative contracts for the fourth quarter of 2023. The company also received $18 million in net cash from settlements of these contracts during the same period. These figures will be factored into the calculation of EOG's Adjusted Net Income (Non-GAAP) for the quarter, which will be reported in full on February 22, 2024. EOG engages in various financial derivative transactions, including price swap, option, and basis swap contracts, to manage price risk and enhance the certainty of future revenues and cash flows. The company's actual realizations for crude oil and natural gas differed from NYMEX prices due to factors such as delivery location and quality adjustments. EOG's financial commodity derivative contracts as of December 31, 2023, are comprehensively summarized in the report, with closed contracts for crude oil and natural gas detailed by volume and price. The report also includes forward-looking statements regarding EOG's future financial position, operations, and business strategy, while acknowledging the risks and uncertainties that could affect actual results.