EOG quarterly profit down but output target raised
Nov 5 (Reuters) - EOG Resources Inc reported a drop in quarterly earnings as lower natural gas prices hit results, but the U.S. exploration and production company raised its 2012 production target as it pumped more crude oil.
The Houston-based company reported third-quarter net income of $356 million, or $1.31 per share, down from $541 million, or $2.01 per share a year earlier.
EOG says it now expects oil and gas output to grow 10.6 percent in 2012, up from a prior forecast for growth of 9 percent.
- British Muslims blame jihadi subculture after beheading video |
- Obama condemns killing of reporter, U.S. hits militants in Iraq |
- Israeli air strike kills three Hamas commanders in Gaza |
- Stocks extend rally, S&P at new high as data signals growth
- Thai junta leader appointed PM by hand-picked parliament |