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EOG Resources Reports Higher Q2 Production, Sees 5% Oil Output Growth in 2026

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EOG Resources (EOG) reported Q2 earnings Tuesday, showing total crude oil equivalent volumes of 1.410 million barrels of oil equivalent per day, up from 1.134 million boe/d a year earlier.

US crude oil equivalent volumes increased to 1.357 million boe/d for the quarter ended June 30, up from 1.091 million boe/d a year earlier.

Trinidad's crude oil equivalent volumes rose to 50,900 boe/d from 43,200 boe/d, while other international output increased to 2,400 boe/d from no production a year earlier.

Crude oil and condensate production increased to 548,800 barrels per day for the quarter, up from 504,200 b/d in the year-ago quarter.

US output rose to 546,200 b/d for the quarter, up from 503,100 b/d, while Trinidad production increased to 2,100 b/d from 1,100 b/d.

Natural gas liquids production climbed to 346,800 b/d, up from 258,400 b/d for the same quarter last year.

Natural gas production also increased to 3.089 billion cubic feet per day for Q2 2026, up from 2.229 Bcf/d for the year-ago quarter.

US natural gas production increased to 2.784 Bcf/d for Q2, up from 1.977 Bcf/d a year earlier.

Trinidad natural gas production rose to 293 MMcf/d from 252 MMcf/d, while other international output totaled 12 MMcf/d, up from no production a year earlier.

The company produced 128.3 million barrels of oil equivalent during the quarter, compared with 103.2 million barrels a year earlier.

EOG expects full-year 2026 oil production to increase 5% and total production to rise 14% from 2025.

For full-year 2026, EOG raised its total production outlook to 1.378 million boe/d to 1.423 million boe/d, with a midpoint of 1.401 million boe/d. Crude oil and condensate production is expected at 546,300 b/d to 551,100 b/d.

The company also forecast full year natural gas liquids production of 332,000 b/d to 352,000 b/d, with a midpoint of 342,000 b/d. Natural gas production is expected at 3 Bcf/d to 3.120 Bcf/d.

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