EOG Hits Oil Jackpot: Profits Gush Past Expectations

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Lone Star Stories

• Trump's Texas Tango: 'Drill, Baby, Drill' for 2024

During a campaign stop in Houston, former President Donald Trump rallied his base with promises to prioritize oil and gas drilling, while disparaging President Joe Biden's electric vehicle policies. Despite being entangled in multiple criminal investigations, Trump leads Republican presidential hopefuls with a commanding lead in early polls, as supporters at the rally decried the legal challenges as a "witch hunt."

• EOG Hits Oil Jackpot: Profits Gush Past Expectations

EOG Resources exceeded third-quarter earnings expectations and upped its annual production forecast, buoyed by persistent fuel demand and higher U.S. WTI crude prices due to extended OPEC+ output cuts. Despite a 13% drop in average crude prices, the company's production surged and it announced an increased cash return commitment and a 10% dividend hike, with shares climbing post-announcement.

Reader Question of the Day

What research is ongoing to mitigate the challenges of sour gas fields, given their high sulfur content?

Sour gas fields are tough nuts to crack because they're full of sulfur, which can be a real pain to deal with. Scientists are busy bees working on ways to sweeten the deal. They're coming up with clever chemical processes to strip out the sulfur and make the gas cleaner and safer to use. It's like finding a secret ingredient that turns a sour lemon into lemonade.

At the same time, they're also inventing super-strong materials that can stand up to sour gas without getting all corroded and crumbly. It's a bit like making a superhero suit for pipes and machines that can resist the gas's super-villain powers. These smart moves help make sure we can use the gas without hurting people or the planet.

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