EOG Resources reports $2B Q1 net income, raises full-year oil production guidance, and returns $950M to shareholders.

EOG Resources announced a strong first quarter 2026 with a net income of $2.0 billion and adjusted net income of $1.8 billion. The company generated $1.5 billion in free cash flow, paid $544 million in dividends, and repurchased $402 million in shares. Operational performance exceeded guidance with higher volumes and better cost control, prompting an increase in full-year oil and NGL production guidance. EOG plans to reallocate capital towards liquids assets while maintaining its overall capital budget, positioning itself for growth and shareholder returns amid a dynamic market environment.