May 8, 2012 / 9:25 PM / 8 years ago

EOG quarterly profit sharply higher

May 8 (Reuters) - EOG Resources Inc’s first-quarterly profit more than doubled as the U.S. oil and gas company benefited from its shift to drilling for higher-priced crude oil and more productive wells.

Net income was $324 million, or $1.20 per share, compared with $134 million, or 52 cents per share in the same quarter a year earlier.

EOG, based in Houston, also raised its production target for crude oil and liquids rich natural gas for the year to 33 percent from 30 percent.

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