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SEC filingEOG delivered a strong quarter with revenue up 22% and operating margin expanding to 37.5%, driven by higher natural gas revenues and crude oil production.
Net cash provided by operating activities totaled $2.97 billion for the first quarter of 2026, compared to $2.29 billion in the prior year quarter, reflecting higher net income and favorable working capital changes. EOG continues to generate strong cash flows, which support its capital allocation strategy. The company plans to continue spending a portion of its anticipated 2026 capital expenditures on leasing acreage and evaluating new prospects, while maintaining a focus on being among the highest return and lowest cost producers.
EOG remains committed to its strategy of emphasizing the drilling of internally generated prospects to find and develop low-cost reserves. The company is focused on strong environmental performance and playing a significant role in the long-term future of energy. While certain continuing commitments associated with expenditure plans exist, they are not expected to be material relative to EOG's total financial capacity. The company's disciplined approach to capital allocation and cost management positions it well for sustained performance.