Dollar Amounts
USD (Millions)
Balance sheet data in USD (millions)
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From 2021 through 2024 EOG’s balance sheet shows steady growth in scale and a strengthening in capital structure. Total assets rose from $38,236m to $47,186m (≈+23.4%), with consistent year‑over‑year increases (≈8.2%, 6.0%, 7.6%). Stockholders’ equity grew faster than assets, from $22,180m to $29,351m (≈+32.3%), driven by strong annual equity gains (≈11.7%, 13.4%, 4.5%), which lifted the equity-to-assets ratio from about 58.0% in 2021 to roughly 62.2% in 2024. That pattern implies earnings retention and/or equity-supporting transactions that increased net worth more rapidly than asset expansion. Liabilities were relatively stable and modestly higher overall (from $16,056m to $17,835m, ≈+11.1%) but show a notable dip in 2023 (to $15,767m) followed by a larger increase in 2024 (+13.1% vs. 2023). As a result, leverage metrics improved through 2023 (liabilities/assets fell from ~42.0% to ~36.0%, and liabilities/equity from ~72.4% to ~56.1%) with a slight re‑leverage in 2024 (liabilities/assets ~37.8%, liabilities/equity ~60.8%). In an oil & gas E&P context, this pattern is consistent with the sector’s post‑pandemic recovery and commodity price strength (which boosted cash flow and allowed balance‑sheet repair in 2022–23), with 2024’s uptick in liabilities likely reflecting targeted financing for capital expenditure or other strategic uses. Note: the 2025 line shows zeros and appears to be missing data, so no comment can be made for that year.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.