EOG Resources Lowers 2025 Capital Spending Amid Tariff Concerns

Published 18 hours agoEOG

EOG Resources Lowers 2025 Capital Spending Amid Tariff Concerns

EOG Resources has announced a reduction in its 2025 capital expenditure plan by $200 million, bringing the new spending range to between $5.8 billion and $6.2 billion. This adjustment stems from uncertainties in global tariff discussions, which have prompted concerns about economic growth and energy demand, as reported by Reuters.

Despite trimming its capital expenditure, EOG Resources is committed to maintaining its oil production levels at those seen in the first quarter for the rest of the year. The company forecasts a 5% total production growth by 2025, underscoring its focus on balancing expenditure with production goals.

In the first quarter, EOG surpassed profit expectations with an adjusted profit of $2.87 per share, against analysts' predictions of $2.79. The rise was bolstered by a significant 63.4% annual increase in natural gas prices and a 4.8% improvement in total production. EOG has stated that its capital program will still support strategic infrastructure initiatives and international ventures, such as exploration projects in Trinidad and Bahrain.

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