EOG raises third-quarter current tax expense guidance to $835-$935 million

EOG Resources, Inc. (EOG) said Thursday in a regulatory filing that it now expects third-quarter 2026 current tax expense of $835 million to $935 million. That is up from its prior forecast of $545 million to $645 million.

The company said the change reflects higher crude oil prices. Prices were higher in the third quarter and are anticipated for the full year, amid the ongoing conflict in the Middle East.

The prior forecast was issued with second-quarter results on Aug. 4, 2026. The company said it is not updating or confirming any other ranges in its third-quarter or full-year 2026 guidance from that date.

During the third quarter, the company received net cash of $40 million from settlements of its financial commodity derivative contracts, the filing showed. Those contracts include price swaps, options, swaptions, collars and basis swaps.

The company also accounts for a 10-year natural gas sales agreement linked to Brent crude oil prices using mark-to-market accounting. No cash was received under that contract in the third quarter, because deliveries are expected to begin in January 2027.

For the quarter ended Sept. 30, 2026, NYMEX West Texas Intermediate crude oil averaged $85.68 per barrel. Natural gas at Henry Hub averaged $2.95 per million British thermal units.

The company said its actual realizations differ from those benchmark prices because of delivery location, quality and revenue adjustments. Its natural gas liquids realizations depend on the components extracted, including ethane, propane, butane and natural gasoline.

The filing does not give a full-year figure for current tax expense. It refers readers to risk factors in the company's 2025 annual report on Form 10-K.