EOG · 10-Q · 2026Q2 · Full report
Capital Expenditure Plan
EOG RESOURCES INC · 2026-08-04 · Importance 64 · Surprise 42 · In source text
EOG estimates full-year 2026 capital expenditures of approximately $6.3 billion to $6.7 billion, including drilling, facilities, leasehold acquisitions, capitalized interest, dry-hole costs, and other property, plant and equipment. The company plans to direct a substantial portion of spending to its highest-return U.S. plays, specifically the Delaware Basin, Utica, and Eagle Ford. EOG expects full-year 2026 oil production to increase approximately 5% and total crude oil, condensate, NGL, and natural-gas production to increase approximately 14% from 2025. During the first six months of 2026, exploration and development expenditures were $3.341 billion, up $135 million from the prior-year period, and management said future spending will vary with energy-market conditions and other economic factors.
Key facts
- Total 2026 capital expenditures are estimated to range from approximately $6.3 billion to $6.7 billion, excluding property acquisitions, asset retirement costs, non-cash exchanges and transactions and exploration costs incurred as operating expenses. source
- Exploration and development expenditures for the first six months of 2026 were $3,341 million, $135 million higher than the same period of 2025. source
- Exploration and development expenditures for the first six months of 2026 consisted of $2,601 million in development drilling and facilities, $447 million in exploration, $218 million in property acquisitions and $75 million in capitalized interest. source
- Important factors include the extent to which EOG is successful in its completion of planned asset dispositions. source
- Leasehold acquisitions included $105 million for the six months ended June 30, 2026 related to non-cash property exchanges (compared to $11 million for the same period in 2025). source
- EOG's acquisition of Encino Acquisition Partners, LLC (Encino) is identified and described as having a strategic rationale and anticipated benefits that are forward-looking statements. source
- Important factors include EOG's failure to realize, in full or at all, the anticipated benefits of its acquisition of Encino and/or business disruptions resulting from the acquisition that could harm EOG's business operations. source
- Important factors include EOG's ability to effectively integrate acquired crude oil and natural gas properties into its operations, identify and resolve existing and potential issues with respect to such properties and accurately estimate reserves, production, drilling, completion and operating costs and capital expenditures with respect to such properties. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | probable | -5.9% | Total 2026 capital expenditures are estimated to range from approximately $6.3 billion to $6.7 billion, excluding property acquisitions,… |
| assets | positive | probable | +5.9% | Total 2026 capital expenditures are estimated to range from approximately $6.3 billion to $6.7 billion, excluding property acquisitions,… |
| cash | negative | realized | -0.3% | Exploration and development expenditures for the first six months of 2026 were $3,341 million, $135 million higher than the same period of… |
| assets | positive | realized | +0.3% | Exploration and development expenditures for the first six months of 2026 were $3,341 million, $135 million higher than the same period of… |