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 26, 2005
_______________
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)
333 Clay
Suite 4200 77002
Houston, Texas (Zip code)
(Address of principal
executive offices)
713/651-7000
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions.
[ ] Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))
EOG RESOURCES, INC.
Item 7.01 Regulation FD Disclosure.
I. Second Quarter and Full Year 2005 Forecast
The forecast items for the second quarter and full year
2005 set forth below for EOG Resources, Inc. (EOG) are based
on current available information and expectations as of the
date of this document. This forecast replaces and supersedes
any previously issued guidance or forecast.
Estimates are provided in the attached table, which is
incorporated by reference herein.
II. Forward-Looking Statements
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. Forward-looking
statements are not guarantees of performance. Although EOG
believes its expectations reflected in forward-looking statements
are based on reasonable assumptions, no assurance can be given
that these expectations will be achieved. Important factors that
could cause actual results to differ materially from the
expectations reflected in the forward-looking statements include,
among others: the timing and extent of changes in commodity
prices for crude oil, natural gas and related products, foreign
currency exchange rates and interest rates; the timing and impact
of liquefied natural gas imports and changes in demand or prices
for ammonia or methanol; the extent and effect of any hedging
activities engaged in by EOG; the extent of EOG's success in
discovering, developing, marketing and producing reserves and in
acquiring oil and gas properties; the accuracy of reserve
estimates, which by their nature involve the exercise of
professional judgment and may therefore be imprecise; the
availability and cost of drilling rigs, experienced drilling
crews and tubular steel; the availability, terms and timing of
governmental and other permits and rights of way; the
availability of pipeline transportation capacity; the extent to
which EOG can replicate on its other Barnett Shale acreage
outside of Johnson and Parker Counties, Texas, the results of its
most recent Barnett Shale wells; whether EOG is successful in its
efforts to more densely develop its acreage in the Barnett Shale
and other production areas; political developments around the
world; acts of war and terrorism and responses to these acts; and
financial market conditions. In light of these risks,
uncertainties and assumptions, the events anticipated by EOG's
forward-looking statements might not occur. EOG undertakes no
obligations to update or revise its forward-looking statements,
whether as a result of new information, future events or
otherwise.
Definitions
$/Bbl US Dollars per barrel
$/Mcf US Dollars per thousand cubic feet
$/Mcfe US Dollars per thousand cubic feet equivalent
$MM US Dollars in millions
Mbd Thousand barrels per day
MMcfd Million cubic feet per day
MMcfed Million cubic feet equivalent per day
NYMEX New York Mercantile Exchange
WTI West Texas Intermediate
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.
EOG RESOURCES, INC.
(Registrant)
Date: April 26, 2005 By: /s/TIMOTHY K. DRIGGERS
Timothy K. Driggers
Vice President and Chief
Accounting Officer
(Principal Accounting Officer)
Estimated Ranges
(See text for additional information)
2Q 2005 Full Year 2005
Daily Production
Natural Gas (MMcfd)
US 710 - 735 686 - 735
Canada 205 - 220 215 - 235
Trinidad 180 - 200 215 - 230
UK North Sea 30 - 40 30 - 42
Total 1,125 - 1,195 1,146 - 1,242
Crude Oil (Mbd)
US 20.0 - 24.0 20.0 - 24.2
Canada 2.0 - 2.6 2.3 - 3.0
Trinidad 2.6 - 4.2 3.8 - 4.6
Total 24.6 - 30.8 26.1 - 31.8
Natural Gas Liquids (Mbd)
US 4.5 - 5.5 4.4 - 5.2
Canada 0.5 - 1.2 0.4 - 1.1
Total 5.0 - 6.7 4.8 - 6.3
Natural Gas Equivalent Volumes (MMcfed)
US 857 - 912 832 - 911
Canada 220 - 243 231 - 260
Trinidad 196 - 225 238 - 258
UK North Sea 30 - 40 30 - 42
Total 1,303 - 1,420 1,331 - 1,471
Operating Costs
Unit Costs ($/Mcfe)
Lease and Well including Transportation $0.66 - $0.72 $0.60 - $0.70
Depreciation, Depletion and Amortization $1.20 - $1.24 $1.14 - $1.22
Expenses ($MM)
Exploration, Dry Hole and Impairment 65.0 - 100.0 260.0 - 280.0
General and Administrative 28.0 - 34.0 115.0 - 130.0
Capitalized Interest 3.0 - 3.5 12.0 - 15.0
Net Interest 12.0 - 16.0 52.0 - 57.0
Taxes Other Than Income (% of Revenue) 5.3% - 5.9% 5.6% - 6.0%
Income Taxes
Effective Rate 34% - 36% 34% - 36%
Deferred Ratio 30% - 50% 30% - 50%
Preferred Dividends ($MM) 1.6 - 2.0 7.0 - 8.0
Capital Expenditures excluding
Acquisitions ($MM) - FY 2005
Approximately 1,600
Pricing
Natural Gas ($/Mcf)
Differentials (include the effect of
physical contracts)
United States - below NYMEX Henry Hub $0.10 - $0.45 $0.15 - $0.35
Canada - below NYMEX Henry Hub $0.70 - $1.10 $0.65 - $1.05
Realizations
Trinidad $1.50 - $2.00 $1.50 - $2.00
UK North Sea $5.00 - $7.50 $5.00 - $7.50
Crude Oil ($/Bbl)
Differentials
US - below WTI $1.00 - $1.50 $1.00 - $1.50
Canada - below WTI $2.50 - $5.00 $2.50 - $5.00
Trinidad - below WTI $5.00 - $6.25 $5.00 - $6.25