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This statistic highlights EOG Resources’ Revenue by Region, split across the United States, Trinidad, and Other International (Rest of the World) regions.
EOG is focused on innovation and cost-effective utilization of advanced technology associated with three-dimensional microseismic and seismic data, the development of reservoir simulation models, completion technologies for horizontal drilling, the use of improved drilling equipment, and formation evaluation. These advanced technologies are used throughout EOG as needed to reduce the risks and costs associated with all aspects of development and exploitation, as well as oil and gas exploration.
|Revenue by Regions||Q3 2020||Q2 2021||Q3 2021||Contribution in Q3 2021|
(All values are in millions except percentages)
For the latest quarter in 2021, 98.47% of the revenue can be traced back to the United States, Trinidad to 1.51% and all other countries amount to 0.02%. In Q2 2021, EOG Recorded an exceptionally high revenue of $3,995 million from the United States. For the same period, earnings from Trinidad and the rest of the world (international) were approximately $81 million and $63 million respectively.
The total revenue of EOG rose from $2,245.48 million in Q3 2020 to $4,765 million in Q3 2021 indicating an increase of 112% on a year-on-year basis. Q2 2021 proved to be better in terms of total revenue generated as compared to Q3 2020, with an increase of 84.32% on a QOQ basis.
The majority of the total revenue of the company is generated by the United States with a contribution of 98.47%. They had shown an increase of $2496 million and $697 million as compared to Q3 2020 and Q2 2021 respectively.
In the US, EOG has emphasized applying its horizontal drilling and completion expertise to unconventional crude oil and, to a lesser extent, liquids-rich natural gas plays. It identifies plays with large reserve potential that have proven to be successful. EOG continues to drill numerous wells in large acreage plays, which in the aggregate have contributed substantially to, and are expected to continue to contribute substantially to production.
In Trinidad, the company continues to deliver natural gas under existing supply contracts. Several fields have been developed and are producing natural gas which is sold to the National Gas Company of Trinidad and Tobago Limited and its subsidiary, and crude oil and condensate which is sold to Heritage Petroleum Company Limited (Heritage).
Trinidad has contributed about 1.51% of the total revenue with an increase of $36.62 million on a YOY basis. It has shown an increase of $46 million in Q2 2021 as compared to Q3 2020 but has declined in Q3 2021.
Other International (Rest of the world)
Revenue from other countries has a contribution of 0.02% to the total revenue of the company. It has revenue of $1 million in Q3 2021 with a decline of 92.65% on a YOY basis and 68.41% on a quarterly basis.
In other countries of the world, EOG has become a participant in the Exploration and Production Sharing Agreement holding a 50% working interest. EOG’s partner completed the drilling and testing of one gross exploratory well in the first quarter of 2021. The results are currently being evaluated.
About the company
EOG Resources, Inc. is a major crude oil and natural gas exploration and production company in the United States, with proven reserves in both the United States and Trinidad. It is an American energy company engaged in the exploration of hydrocarbon. It is founded by Mark G. Papa in 1999.
The company is driven from the bottom up by its innovative and highly engaged employees. In 2020, the company had earned revenue of $1,103.2 crores having a stock price of $102.20 with an increase of 4.16% listed at NYSE.
By providing employees with a quality environment, and by maintaining a consistent college internship and recruiting program, EOG can attract and retain some of the industry’s best individuals who will embrace the company’s culture and their commitment to corporate and sustainability responsibility.
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