Corporate Update – EOG Resources Australia (Quarter Ended 30 September 2026)

EOG Resources Australia, the Australian subsidiary of EOG Resources Inc., reported a period of constrained activity for the quarter ended 30 September 2026. The company’s operations in Cuba, specifically the Block 9 Production Sharing Contract in which it holds a 30 % interest, remained on hold. Routine maintenance was carried out while the project was suspended, and no safety or security incidents were recorded during the reporting period.

Financial Highlights

  • Cash Flow from Operating Activities – Net cash generated from operating activities was positive, driven primarily by interest receipts. The company’s cash position at the close of the quarter was sufficient to cover operating needs.
  • Exploration and Evaluation Expenditures – These expenditures were minimal, reflecting the suspension of field work in Block 9.
  • Cash Call Obligations – A portion of payments owed by EOG’s former joint‑operations partner was received, reducing outstanding cash call obligations. The balance of the claim remains subject to regulatory approvals and potential adjustments, which will be disclosed in the company’s annual report.
  • Debt Position – EOG Resources Australia maintained a modest debt position, with its financing facilities largely unchanged from the prior quarter. Cash flow from financing activities was largely neutral, reflecting stable borrowing and repayment levels.

Regulatory Environment and Operational Outlook

Management noted that the regulatory environment in Cuba continues to evolve. The company is monitoring potential opportunities to enhance operational efficiency once conditions allow. The suspension of the Block 9 project is expected to remain in place until the regulatory landscape stabilizes, at which point the company will assess the feasibility of resuming operations.

Summary

EOG Resources Australia’s quarterly update highlights a period of limited on‑shore activity, ongoing financial reconciliation with its Cuban partner, and a stable cash position supported by interest income and prudent cost management. The company remains focused on navigating regulatory developments and preparing for a potential resumption of operations once conditions permit.