EOG Resources Targets Overseas Fracking, Q4 EPS Seen $2.20 and $5.79B Revenue
EOG Resources is among U.S. shale majors expanding fracturing operations into international shale basins to leverage its completions expertise. The company will report Q4 results on February 24 with analysts forecasting $2.20 per share earnings and $5.79 billion in revenues, marking a 19.7% EPS decline and 3.7% sales gain year-over-year.
1. Global Fracking Expansion
EOG Resources is joining other U.S. shale majors in global fracking expansion, exploring international shale basins to apply its completions expertise beyond domestic fields. The company is assessing opportunities abroad to replicate Permian well productivity gains and diversify its asset portfolio as domestic output growth stabilizes.
2. Q4 Earnings Outlook
The company will report fourth-quarter results on February 24, with analysts forecasting $2.20 per share earnings and $5.79 billion in revenues, implying a 19.7% EPS decline and 3.7% revenue increase year-over-year. Consensus EPS estimates have been revised 7.7% lower over the past month, reflecting heightened caution on capital spending and output guidance.