EOG Resources, Inc. reported a cumulative free cash flow of $15 billion from 2023 to 2025, with $14 billion returned to shareholders through dividends and share repurchases. In 2025, the company generated $4.7 billion in free cash flow and returned the entirety to shareholders. EOG plans to achieve $10 billion to $18 billion in cumulative free cash flow by 2028 and has $3.3 billion authorized for share repurchases.
To enhance future cash flows, EOG expanded its portfolio in 2025 by acquiring Encino and increasing its acreage in the Eagle Ford region. The company plans to invest $6.5 billion in exploration activities in the UAE and Bahrain while continuing operations in Utica and Dorado.
Chevron Corporation (CVX) returned $12.1 billion to shareholders in 2025 and expects $2.5 billion to $3 billion in share buybacks for Q1 2026. Exxon Mobil Corporation (XOM), which has distributed $150 billion cumulatively from 2021 to 2025, aims to maintain a $20 billion annual share buyback pace through 2026.
