EOG Resources Inc: updates Q3 tax expense to $835,000,000-$935,000,000

What happened

• On Oct 8, 2026, EOG Resources Inc filed an 8-K that updated its guidance for current tax expense for the third quarter 2026. EOG now expects third quarter 2026 current tax expense to be $835,000,000-$935,000,000. In its prior guidance issued with second quarter 2026 results on Aug 4, 2026, EOG had forecasted current tax expense for the third quarter 2026 of $545,000,000-$645,000,000. EOG said the change is due to higher crude oil prices realized in the third quarter 2026 and anticipated for the full year as a result of the ongoing conflict in the Middle East.
• The filing also reported price risk management activity and related accounting: EOG accounts for Financial Commodity Derivative Contracts and its Brent Linked Gas Sales Contract using the mark-to-market accounting method.

Key details

• Updated third quarter 2026 current tax expense: $835,000,000-$935,000,000 (prior range $545,000,000-$645,000,000 issued Aug 4, 2026).
• Cash from derivative settlements during third quarter 2026: net cash received of $40,000,000.
• No cash received related to the Brent Linked Gas Sales Contract; deliveries expected to commence in Jan 2027.
• Market averages for the quarter ended Sep 30, 2026: NYMEX West Texas Intermediate crude oil $85.68 per barrel and NYMEX natural gas at Henry Hub $2.95 per million British thermal units.

Why it may matter

• The filing reports Item 2.02 (results of operations and financial condition), covering an update to EOG’s third quarter 2026 current tax expense estimate and disclosures about its mark-to-market accounting for commodity derivative contracts and its Brent linked gas sales contract. For forward-looking statements and risk factors, the filing refers to EOG’s 2025 Form 10-K. The filing does not show why the insider traded or why the company acted.