EOG Resources, Inc.
Financial and Operating Highlights Letter to Shareholders Operations Map Financial Review Print Version
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Financial and Operating Highlights

(In millions, except per share data,
unless otherwise indicated)
  
2007
  
2006
   
2005
  		  
Net Operating Revenues
$
4,191
$
3,913
$
3,633
 
Income Before Interest Expense                        
   and Income Taxes
$
1,678
$
1,956
$
2,028
 
Net Income Available to Common Stockholders
$
1,083
$
1,289
$
1,252
 
Total Exploration and Development Expenditures
$
3,599
$
2,927
$
1,838
 
Other Property, Plant and Equipment Expenditures  
$
277
    
$
100
  
$
63
    
Wellhead Statistics
 
   Natural Gas Volumes (MMcfd)
1,470
1,337
1,216
 
   Natural Gas Prices ($/Mcf)
$
5.69
$
5.74
$
6.62
 
   Crude Oil and Condensate Volumes (MBbld)
31.2
28.1
28.6
 
   Crude Oil and Condensate Prices ($/Bbl)
$
68.69
$
62.38
$
54.63
 
   Natural Gas Liquids Volumes (MBbld)
12.2
9.3
7.5
 
   Natural Gas Liquids Prices ($/Bbl)
$
47.36
$
40.25
$
35.59
 
NYSE Price Range ($/Share)    
     
   
   
   High   $
91.63
     $
86.91
   $
82.00
    
   Low   $
59.21
     $
56.31
   $
32.05
    
   Close   $
89.25
     $
62.45
   $
73.37
    
Cash Dividends Per Common Share Declared   $
0.36
     $
0.24
   $
0.16
    
Diluted Average Number of Common                        
   Shares Outstanding    
247.6
      
246.1
    
244.0
    


The Company

EOG Resources, Inc. (EOG) is one of the largest independent (non-integrated) oil and natural gas companies in the United States with proved reserves in the United States, Canada, offshore Trinidad and the United Kingdom North Sea. EOG Resources, Inc. is listed on the New York Stock Exchange and is traded under the ticker symbol “EOG.”

On The Cover

A driller operates the controls on one of the new generation of automated rigs working for EOG in the Fort Worth Barnett Shale Play. After the company identifies potential onshore reservoirs of hydrocarbons that can be unlocked through the use of horizontal drilling and enhanced completion technology, EOG moves quickly to acquire acreage and build a strong inventory of highly economic prospects.

          Highlights
  • In 2007, EOG reported net income available to common stockholders of $1,083 million as compared to $1,289 million for 2006.
  • EOG’s overall organic year-over-year production increased 11 percent and United States natural gas production grew 19 percent. The Fort Worth Basin Barnett Shale, East Texas, Mid Continent and Rocky Mountain areas led the production increases.
  • Crude oil and condensate production grew by 11 percent overall and 19 percent in the United States, with the most significant increase recorded in the North Dakota Bakken Play. Natural gas liquids production increased 31 percent over 2006 with excellent results from the Fort Worth, South Texas and Rocky Mountain operating areas.
  • At December 31, 2007, total company reserves were approximately 7.7 Tcfe, an increase of 944 Bcfe, or 14 percent higher than year-end 2006. From drilling alone, EOG added 1,534 Bcfe of reserves.
   

  

  • EOG achieved 16 percent return on capital employed(1) for 2007 and maintained a conservative balance sheet, ending the year with a debt-to-total capitalization ratio of 14 percent.
  • Following a 50 percent increase in 2007, the EOG Board of Directors again increased the cash dividend on the common stock. Effective with the dividend payable on April 30, 2008 to record holders as of April 16, 2008, the quarterly dividend on the common stock will be $0.12 per share. This reflects a 33 percent increase from 2007 to an indicated annual rate of $0.48 per share, the eighth increase in nine years.
  • EOG was named to FORTUNE’s list of “The 100 Best Companies to Work For” in both 2007 and 2008, the only two years it has been eligible for consideration.

        (1) Refer to reconciliation
              schedule on page 93.

       
  For information regarding forward-looking statements, see see pages 38-39 of EOG’s Form 10-K included herein.

For a glossary of terms see page 94.
   
 
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