EOG Closes $400 Million Of Shale Sales In Five Weeks And Stretches Staff Stock Vesting
EOG sold its Barnett Shale and Woodford Oil Window positions for $220 million and $180 million, and spread restricted stock vesting over three years.
EOG Resources, the oil and gas producer, closed the $220 million sale of its Barnett Shale position on September 15, 2026, then the $180 million sale of its Woodford Oil Window interest on October 19, its quarterly filing shows. The same 10-Q says new restricted stock grants will vest in three annual installments instead of all at once.
Two sales, $400 million
Barnett was agreed in July and Woodford in September. The two together produced about 16 MBoed in the third quarter, about 2 MBbld of it crude oil and condensate. Total company output was 1,433.1 MBoed.
Third-quarter gains on asset dispositions came to $242 million, against an $18 million loss a year earlier. Operating income was $3,586 million, up from $3,528 million in the prior quarter's filing. For the first nine months, EOG took in $394 million from asset sales and booked $331 million of net gains.
A gentler vesting schedule
Awards granted before September 25, 2026 generally cliff vest, meaning all shares arrive on the third anniversary. Newer grants vest 33%, 33% and 34% over three years. The schedule applies to future grants too, until the committee changes it.
The filing also records a tougher rule for performance units granted from September 25: if total shareholder return over the performance period is negative, any payout multiple above 100% is cut by 50%.
The business and the balance sheet
EOG explores for, develops, produces and markets crude oil, natural gas liquids and natural gas, mainly in the United States and Trinidad and Tobago. Its drilling in the first nine months centered on the Delaware Basin, the Eagle Ford and the Utica.
The company finalized its accounting for the 2025 purchase of Encino, a Utica producer, with a $30 million net increase in oil and gas properties and no goodwill. At September 30, it held $5.7 billion in cash and an undrawn $3.0 billion credit facility, and its debt-to-total capitalization ratio was 19%.
The board raised the quarterly dividend to $1.10 from $1.02 on November 5. About $10.6 billion remained on its buyback authorization at September 30, after EOG repurchased 19.8 million shares for about $2,704 million in nine months.
The first dividend at $1.10 is payable January 29, 2027, to holders of record on January 15.
Sources
- 10-Q Filing — EOG Resources (EOG) — SEC EDGAR
- 10-Q Filing — EOG Resources (EOG), Q2 FY2026 filed 2026-08-04 (comparison basis) — SEC EDGAR
- Earnings release (8-K Item 2.02, exh99-1110526.htm) — EOG Resources, filed 2026-11-05 — SEC EDGAR
- Compared to Estimates, EOG Resources (EOG) Q3 Earnings: A Look at Key Metrics — Yahoo Finance
- EOG Resources Lifts Dividend 8% as Q3 Profit Surges 89% | OilPrice.com — oilprice.com
- EOG Resources (EOG) Surpasses Q3 Earnings and Revenue Estimates — Yahoo Finance
- EOG Resources: Q3 Earnings Snapshot | 9news.com — Associated Press
- Is EOG Resources (EOG) Trading At A Discount To Its Cash Flow? — Yahoo Finance
