EOG

I consider EOG a pure-play Permian producer. It's other assets do not move the needle compared to its operations in the Permian.  

EOG:

• market cap: $56 billion
• dividend: regular, 75 cents quarterly; special $2.00 dividend paid December, 2021;
• P/E: 18
• current share price, November 5, 2021: $94
• target, November 5, 2022: $107

3Q21: earnings, company's presentation, pdf here.

• EPS: beats by 5.68%
• revenue: beats by 9.54%
• shifting to double premium; EOG's presentation
• higher returns + lower declines + more free cash flow
• record results
• adjusted net income: $1.3 billion; quarterly record
• adjusted EPS: $2.16
• free cash flow: $1.4 billion; quarterly record
• low breakeven:
• WTI:
• $30: discretionary cash flow; breakeven at $30 WTI
• $36: regular dividends covered
• $65: regular dividends covered; supports special dividends; plus debt reduction;
• committed tos sustainable, growing regular dividend
• "no growth until market clearly needs the barrels"
• 2021 plan does not change with higher oil price
  
• low spare capacity

Cash returned to shareholders:

• almost doubles the quarterly dividend from 42 cents (or thereabouts) to $75 cents, or $3.00 annualized;
• declares a special dividend of $2.00, payable before the end of 2021. 

 Breakevens: