EOG RESOURCES INC 8-K

What Happened EOG Resources, Inc. filed a Form 8-K on April 9, 2026 announcing it has updated its first-quarter 2026 current tax expense guidance. EOG had previously guided to $230 million–$330 million for Q1 2026 (issued Feb 24, 2026) but now expects current tax expense of $500 million–$600 million, citing higher crude prices realized in Q1 2026 and expected for the full year due to the conflict in the Middle East. EOG also reported net cash paid of $53 million during Q1 2026 to settle Financial Commodity Derivative Contracts.

Key Details

• Updated Q1 2026 current tax expense: $500 million–$600 million (previous guidance: $230M–$330M).
• Net cash paid for settlements of Financial Commodity Derivative Contracts in Q1 2026: $53 million.
• No cash received related to the 10-year Brent-linked gas sales contract; deliveries expected to begin January 2027.
• Q1 2026 benchmark prices: NYMEX WTI averaged $72.17/bbl and NYMEX Henry Hub gas averaged $4.96/MMBtu; EOG noted its realized prices differ by location, quality and other adjustments.

Why It Matters Raising the expected current tax expense for Q1 materially increases near-term cash tax outflows versus prior guidance, which can affect reported quarterly cash flows and the company’s short-term free cash generation. The $53 million net cash paid on derivative settlements is a separate, tangible cash flow item related to EOG’s hedging activity. EOG stated it is not updating any other Q1 or full-year 2026 guidance ranges in the Feb. 24 release. Investors should consider these updated tax and cash-settlement figures when assessing Q1 results and near-term cash availability; the filing also includes standard forward‑looking statement caution.