EOG Resources raised third quarter 2026 tax expense guidance to $935 million on higher oil prices

EOG Resources updated its third quarter 2026 financial guidance to account for higher realized crude oil prices resulting from geopolitical conflict in the Middle East. The company significantly increased its projected tax expense while reporting modest cash inflows from its commodity derivative portfolio.

Key Highlights

• Revised third quarter 2026 current tax expense guidance to a range of $835 million to $935 million, up from the previous forecast of $545 million to $645 million.
• Realized $40 million in net cash from settlements of financial commodity derivative contracts during the third quarter.
• Reported benchmark pricing for the third quarter 2026 with NYMEX WTI crude oil averaging $85.68 per barrel and Henry Hub natural gas averaging $2.95 per MMBtu.