* Seeks to increase funds for oil exploration
* Eagle Ford, Marcellus, Haynesville shale acres for sale
* Also plans to sell Canadian shallow gas assets
* EOG shares down 5.3 pct on NYSE
HOUSTON, Aug 6 EOG Resources Inc (EOG.N) said
on Friday it plans to sell about 180,000 acres in U.S. shale
plays as part of the oil and gas company's effort to increase
funds for oil exploration.
EOG will sell 117,000 acres in the Eagle Ford Shale in
South Texas; 51,000 acres in the Marcellus Shale in
Pennsylvania; in 15,000 acres in the Haynesville Shale, Mark
Papa, the company's CEO, told analysts on a conference call.
"We're so long on acreage relative to what we can logically
develop in a reasonable period of time," Papa told analysts.
EOG, based in Houston, also plans to sell Canadian shallow
gas assets that produce 170 million cubic feet per day.
On Thursday, EOG reported a second quarter profit that fell
short of Wall Street estimates. The company also said it would
boost 2010 spending by $500 million. [ID:nN05164255].
Shares of EOG were down 5.3 percent at $97.06 on the New
York Stock Exchange on Friday morning.
(Reporting by Anna Driver in Houston, editing by Matthew