-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, LtPn7VRUqqggr6gVgK2LCWr+AOVqBa5EE7wtg0Rb8fv0SUtEb30ilqAr8576ZWHC DUSUivyimu6pwC8GaDSyrA== 0000821189-01-500009.txt : 20010424 0000821189-01-500009.hdr.sgml : 20010424 ACCESSION NUMBER: 0000821189-01-500009 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20010420 ITEM INFORMATION: FILED AS OF DATE: 20010420 FILER: COMPANY DATA: COMPANY CONFORMED NAME: EOG RESOURCES INC CENTRAL INDEX KEY: 0000821189 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 470684736 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-09743 FILM NUMBER: 1607725 BUSINESS ADDRESS: STREET 1: 1200 SMITH ST STREET 2: SUITE 300 CITY: HOUSTON STATE: TX ZIP: 77002-7361 BUSINESS PHONE: 7136517000 MAIL ADDRESS: STREET 1: 1200 SMITH STREET CITY: HOUSTON STATE: TX ZIP: 77002-7361 FORMER COMPANY: FORMER CONFORMED NAME: ENRON OIL & GAS CO DATE OF NAME CHANGE: 19920703 8-K 1 form8k.txt ITEM 9 REGULATION FD DISCLOSURE UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: April 20, 2001 _______________ EOG RESOURCES, INC. (Exact name of registrant as specified in its charter) Delaware 1-9743 47-0684736 (State or other (Commission I.R.S. Employer jurisdiction File Identification No.) of incorporation or Number) organization) 1200 Smith Street Suite 300 77002 Houston, Texas (Zip code) (Address of principal executive offices) 713/651-7000 (Registrant's telephone number, including area code) 1 EOG Resources, Inc. Item 9. Regulation FD Disclosure This document includes forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although EOG Resources, Inc. (`the Company') believes that its expectations are based on reasonable assumptions, it can give no assurance that such expectations will be achieved. Important factors that could cause actual results to differ materially from those in the forward looking statements herein include, but are not limited to, the timing and extent of changes in reserve quantities and commodity prices for crude oil, natural gas and related products and interest rates; the extent of the Company's success in discovering, developing, producing and marketing reserves and in acquiring oil and natural gas properties; uncertainties and changes associated with international projects and operations including reserve estimates, markets, contract terms, construction, financing availability, operating costs, and political developments around the world, and conditions of the capital and equity markets during the periods covered by the forward looking statements. Second Quarter and Full Year 2001 - --------------------------------- The second quarter and full year 2001 forecasts set forth below are given as of the date of this document only and are based on current available information and expectations. The Company does not undertake any obligation to update these estimates as conditions change or other information becomes available. The Company continues to target 4 percent growth in North America production for 2001. There are price swap contracts in place for 100,000 MMBtud of natural gas production for April - May 2001 at an average price of $5.16 per MMBtu. A Canadian subsidiary of the Company has natural gas physical agreements in place for 47,000 MMBtud for April - May 2001 at an average price of US$5.16 per MMBtu less applicable basis. There are price swap contracts in place for crude oil as detailed below. 2 Quarter Mbd $/Bbl 2Q 2001 5.0 $27.33 3Q 2001 4.0 $26.50 4Q 2001 2.0 $26.61 Capital expenditures for the full year 2001, excluding acquisitions, are expected to be between $700 and $800 million. The Company does not provide guidance on other income, other expense, or gain or loss on sales of assets unless specifically noted. Additional estimates are shown in the attached table. Other Items - ----------- In February 2001, the Board of Directors increased the annual dividend on the common stock from $.14 per share to $.16 per share. Definitions - ----------- $/Bbl US Dollar per barrel $/Mcf US Dollar per thousand cubic feet $/Mcfe US Dollar per thousand cubic feet equivalent Bcfe Billion cubic feet equivalent Mcf Thousand cubic feet Mcfe Thousand cubic feet equivalent MMBtu Million British thermal units MMBtud Million British thermal units per day MMcfd Million cubic feet per day Mbd Thousand barrels per day WTI West Texas Intermediate MM Millions NYMEX New York Mercantile Exchange SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. EOG RESOURCES, INC. Date: April 20, 2001 By: /s/ TIMOTHY K. DRIGGERS ------------------------ Timothy K. Driggers Vice President, Accounting and Land Administration (Principal Accounting Officer) 3 EOG Resources, Inc Estimated Ranges 2Q 2001 Full Year 2001 --------------------- --------------------- North America Production Growth Target (Bcfe) 4% Daily Production Natural Gas (MMcfd) US 690 - 710 695 - 715 Canada 115 - 120 120 - 130 Trinidad 95 - 120 110 - 120 Total 900 - 950 925 - 965 Crude Oil (Mbd) US 23.5 - 25.0 23.0 - 24.5 Canada 1.4 - 1.8 1.5 - 2.0 Trinidad 1.8 - 2.3 2.0 - 2.5 Total 26.7 - 29.1 26.5 - 29.0 Natural Gas Liquids (Mbd) US 2.5 - 3.5 2.5 - 3.5 Canada 0.4 - 0.6 0.4 - 0.7 Total 2.9 - 4.1 2.9 - 4.2 Operating Costs Unit Costs ($/Mcfe) Lease and Well $0.37 - $0.43 $0.37 - $0.43 Depreciation, Depletion and Amortization $0.90 - $1.00 $0.95 - $1.05 Expenses ($MM) Exploration, Dry Hole and Impairment 40.0 - 50.0 150.0 - 200.0 General and Administrative 20.0 - 25.0 80.0 - 85.0 Net Interest 11.0 - 13.0 40.0 - 45.0 Capitalized Interest 1.5 - 2.0 7.0 - 8.0 Taxes Other than Income (% of Revenue) 6.5 - 7.0 6.5 - 7.0 Taxes Effective Rate 30% - 40% 30% - 40% Deferred Ratio 25% - 35% 25% - 35% Preferred Dividends ($MM) 2.5 - 3.0 11.0 - 11.5 Average Shares Outstanding (MM) Basic 116.0 - 116.5 116.0 - 116.5 Fully Diluted 118.5 - 119.0 118.5 - 119.0 Capital Expenditures Excluding Acquisitions ($MM) North America 620 - 700 International 80 - 100 Total 700 - 800 Pricing Natural Gas ($/Mcf) Differentials US - below NYMEX Henry Hub $0.05 - $0.15 $0.05 - $0.15 Canada - below NYMEX Henry Hub $0.40 - $1.05 $0.40 - $1.05 Realizations Trinidad $1.22 $1.22 Crude Oil ($/Bbl) Differentials US - below WTI $0.75 - $1.00 $0.75 - $1.00 Canada - below WTI $2.00 - $2.75 $2.00 - $2.75 Trinidad - below WTI $2.00 - $2.75 $2.00 - $2.75
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