EOG - EOG pledges no increase in capex production volumes during 2021

EOG Resources (EOG) -3.6% post-market after beating expectations for Q4 earnings and hiking its dividend by 10%, but also raising its drilling budget by more than 8% to ensure production will stay flat for the rest of this year.Q4 adjusted EPS fell 47% Y/Y to $0.71; adjusted EBITDAX fell 28% to $1.54B.Q4 total production rose 12% Q/Q but fell 6% Y/Y to 801.5K boe/day; oil output gained 18% Q/Q but dropped 5% Y/Y to 444.8K bbl/day.Q4 average realized crude oil and condensate price fell 27% Y/Y to $41.81/bbl, average realized natural gas liquids price rose 8% to $17.54/bbl, and average realized natural gas price also increased 8% to $2.54/Mcf.EOG says it plans a 2021 capital budget of $3.7B-$4.1B, compared with $3.6B in 2020, which it will fund along with the enhanced dividend from discretionary cash flow at $40/bbl WTI oil price.The company says the budget maintains 2021 crude oil volumes of

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EOG pledges no increase in capex, production volumes during 2021