EOG Resources, Inc. (NYSE:EOG) Q3 2023 Earnings Call Transcript

Billy Helms: Yes, Josh. This is Billy. Let me give you a little bit of hint maybe of kind of what we’re looking at. Certainly, we have a deep portfolio of unconventional plays in the things we’re currently drilling today. But our active exploration program is continuously looking for all opportunities. And they’re geared towards, first of all, generating solid returns and being competitive with what we’re investing in today. So they will include things that are conventional or unconventional, offshore or onshore, U.S. or not. So we’re looking at all kinds of things that are competitive with what our portfolio is generating today.

Operator: This concludes the question-and-answer session. I would like to turn the conference back over to Mr. Yacob for any closing remarks.

EzraYacob: Yes. I’d just like to say that we appreciate everyone’s time today. One final takeaway I’d like to leave you with is that EOG’s cash return announcements in the third quarter demonstrate our commitment to creating long-term value for our shareholders. We’ve increased our free cash flow payout minimum to 70% and increased our regular dividend 10%, and we’re confident in the sustainability of our regular dividend due to the consistent execution of our value proposition that improves the company year-after-year. EOG is in a better position than ever to deliver value for our shareholders through industry cycles and play a leading role in the long-term future of energy. Thank you.

Operator: The conference has now concluded. Thank you for attending today’s presentation, and you may now disconnect.