EOG Resources Declares Quarterly Dividend on Common Stock
OREANDA-NEWS. The Board of Directors of EOG Resources, Inc. (EOG) has declared a dividend of USD 0.1875 per share on EOG's Common Stock, payable January 31, 2014, to stockholders of record as of January 17, 2014. The indicated annual rate is USD 0.75.
Appointment of New Board Member
EOG announced the appointment of Janet F. Clark to its Board of Directors, effective January 1, 2014. Clark served as Executive Vice President and Chief Financial Officer of Marathon Oil Corporation, a publicly traded oil and gas exploration and production company, from January 2007 until her retirement in October 2013, and as Senior Vice President and Chief Financial Officer of Marathon Oil Corporation from January 2004 to January 2007.
"We are thrilled to have someone with Janet's industry and financial acumen join our board," said President and Chief Executive Officer William R. "Bill" Thomas. "She brings years of industry knowledge to EOG."
Hedging Activity
In recent weeks, EOG increased the amount of crude oil and natural gas hedges in place for 2014. For the first half of 2014, EOG has crude oil financial price swap contracts in place for 138,500 barrels of oil per day (Bopd) at a weighted average price of USD 96.45 per barrel, excluding unexercised options. For the period July 1 through December 31, 2014, EOG has crude oil financial price swap contracts in place for 58,000 Bopd at an average price of USD 95.18 per barrel, excluding unexercised options.
For the 2014 calendar year, EOG has natural gas financial price swap contracts in place for 195,000 million British thermal units per day at a weighted average price of USD 4.52 per million British thermal units, excluding unexercised options. (For a comprehensive summary of crude oil and natural gas derivative contracts, please refer to the attached tables.)
EOG Resources, Inc. is one of the largest independent (non-integrated) crude oil and natural gas companies in the United States with proved reserves in the United States, Canada, Trinidad, the United Kingdom and China. EOG Resources, Inc. is listed on the New York Stock Exchange and is traded under the ticker symbol "EOG."
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