- 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.
EOG Resources swings to Q4 profit, shares +1.7% AH
Feb 24 2014, 18:20 ET