EOG Beats Guidance and Squeezes Even More Bang for the Buck From Its Wells
EOG delivered production of 749 thousand barrels of oil equivalent a day in the third quarter, which was 25% higher than in the year-ago period and near the high end of guidance (oil volumes were up 27% year over year and exceeded the high end of guidance). As a result, the firm’s financial results were stronger than expected, with adjusted EBITDA and adjusted earnings per share coming in at $2,317 million and $1.75 respectively (consensus estimates were $2,183 million and $1.53). The firm also ...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.
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