EOG Resources Misses EPS Estimate; Revenues Beat (EOG)
August 05, 2010 5:06 PM
EOG Resources, Inc. (NYSE: EOG) reports Q2 $0.18 versus estimates of $0.25. EOG Resources, Inc. reports Q2 revenues of $1.36 billion versus estimates of $1.24 billion.
2010 Q2 GAAP EPS was $0.24; 2010 Q2 Non-GAAP was $0.18.
During the second quarter, total company crude oil and condensate production increased 43 percent over the same period in 2009. Production increases were greatest from the North Dakota Williston Basin where drilling and production results have proven consistent.
"For the first time in EOG's history, during the second quarter total revenues generated from crude oil, condensate and natural gas liquids production exceeded those from natural gas. This mix is in-line with EOG's target to organically evolve toward a predominantly liquids weighted portfolio in North America by 2011 to 2012," said Mark G. Papa, Chairman and Chief Executive Officer.
Shares of EOG are higher in the after-hours by 0.42%.
