EOG Resources Quarterly Profit Jumps 7%
Aug 5 (Reuters) - EOG Resources Inc said on Tuesday its quarterly profit rose 7 percent from the year-ago period due to a jump in oil production in Texas and North Dakota.
The company posted net income of $706.4 million, or $1.29 per share, compared with $659.7 million, or $1.21 per share, in the year-ago period.
The company said it sold 591,000 barrels of oil equivalent per day in the quarter, a 17 percent increase from the same period last year.
EOG raised its quarterly dividend by 34 percent to 16.8 cents, payable Oct. 31 to shareholders of record by Oct. 17.
(Reporting by Ernest Scheyder; Editing by Chris Reese)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Permian Auction Doubles 2008 Record with near Billion-Dollar Sale (Sep 07)
- 'New Player' Enters Louisiana Austin Chalk (Aug 13)
- EOG Sees Permian Hydraulic Fracturing Work Slowing in 2nd Half (Aug 03)