EOG Resources Versus Occidental Petroleum: My Take From An Investor’s Perspective (EOG)


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Introduction

The Houston-based EOG Resources, Inc. (EOG) announced its third-quarter results on November 2, 2023, while Occidental Petroleum Corporation (OXY) released its Q3 on November 7, 2023.

Note: I am a long-term EOG and OXY shareholder and have followed EOG and OXY on Seeking Alpha since 2016.

Why do I believe that EOG Resources is a better choice in the long term?

OXY 3Q23 Revenue per Segment (Fun Trading)

EOG OXY Quarterly Revenue History Comparison (Fun Trading)

Data by YCharts

Balance sheet and production comparison

The transaction’s total consideration is approximately $12.0 billion. Occidental intends to finance the purchase with the incurrence of $9.1 billion of new debt, the issuance of approximately $1.7 billion of common equity, and the assumption of CrownRock’s $1.2 billion of existing debt. The transaction is expected to close in the first quarter of 2024, subject to customary closing conditions and the receipt of regulatory approvals.

EOG OXY Cash versus Debt History (Fun Trading)

EOG OXY Quarterly Free Cash Flow History (Fun Trading)

EOG OXY Quarterly Oil Equivalent Production History (Fun Trading)

EOG Quarterly Oil Equivalent Production (Fun Trading)

Conclusion



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