EOG Resources has quarterly loss on big writedown

Wed Feb 13, 2013 5:30pm EST

Feb 13 (Reuters) - EOG Resources Inc on Wednesday reported a quarterly loss compared with a year-ago profit, as it wrote down the value of Canadian natural gas assets.

The Houston company reported a fourth-quarter loss of $505 million, or $1.88 per share compared with a profit of $120.7 million, or 45 cents per share in the same period.

EOG also said it expects to spend $7 billion to $7.2 billion this year, below the $7.6 billion it spent in 2012.