EOG Delivers Strong Fourth-Quarter Results and Another Year of Cost-Competitive Reserve Replacement
EOG Resources reported strong fourth-quarter results, highlighted by a production beat, impressive performance from its Permian properties, and growth in its low-cost proved reserve base. Management guided to 2017 company-wide production growth of 5%, to 588 mboe/d, on a capital budget of $3.9 billion, which compares with our forecast of 562 mboe/d and $3.7 billion. We’ll adjust our model accordingly, with a likely modest increase to our fair value estimate of $60 per share as a result, although...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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