Q4 beat but sharp capex hike in FY18
Adjusted CPS of $2.67 beat consensus of $2.47, thanks to higher NGL volumes and oil realisations. Oil output of 368kboed (+18% YoY) was in-line with consensus. FY18 capex guidance of $5.4-$5.8bn will be a focus as it exceeds consensus of $5.1bn, but EOG estimates it can meet guidance at oil prices below $50/bl.EOG Resources, together with its subsidiaries, explores for, develops, produces and markets crude oil, natural gas liquids and natural gas primarily in main producing basins in the United States, The Republic of Trinidad and Tobago, The People's Republic of China, Canada and, from time to time, select other international areas.
Formed in 2003 by an established team from Cazenove, one of the most respected investment banks in the UK, Atlantic Equities conducts and publishes fundamental, bottom up research on mid and large cap US companies.
Atlantic provide order execution through a wide range of DMA products and algorithmic trading suites.
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