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EOG Resources swings to Q4 profit, shares +1.7% AH

  • EOG Resources (EOG) +1.7% AH after reporting a Q4 profit compared with a year-ago loss when the energy company wrote down the value of some Canadian assets.
  • EOG's crude oil and condensate revenue - its biggest contributor to the top line - rose 48% Y/Y; natural gas liquids revenue rose 4.5%, while natural gas revenue fell 1.7%.
  • Q4 net operating revenue increased 24% to $3.75B while operating expenses fell 18% to $2.7B.
  • Sets 2014 crude oil production growth target at 27% and overall production growth target at 11.5%; 2014 capex planned at $8.1B-$8.3B, and does not plan to allocate capital to North American dry natural gas drilling in 2014.
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