**Strong Financial Performance**: EOG Resources reported $1.6 billion in adjusted net income and $1.5 billion in free cash flow for Q3 2024, continuing a trend of robust financial results. Year-to-date, free cash flow reached $4.1 billion, complemented by $3.8 billion returned to shareholders through dividends and share repurchases.
**Dividend and Share Repurchase Program**: The company announced a 7% increase in its regular dividend, reaffirming its strong commitment to returning capital to shareholders. Additionally, EOG boosted its share repurchase authorization by $5 billion, with $758 million spent on buybacks in Q3 alone. This reflects confidence in its ongoing financial performance and aims to exceed the minimum cash return commitment of 70% of annual free cash flow.
**2025 Capital Program Outlook**: EOG plans to maintain a relatively flat activity level for 2025, with minor shifts in capital allocation towards growth in the Utica play while keeping a one-rig program in Dorado. The company anticipates a 50% increase in Utica activity, aligning with its strategy to capture economies of scale and achieve critical operational efficiencies.