EOG Earnings: No Surprises in Results; Higher Oil Prices Lead to Capital Windfall for Shareholders
EOG Resources posted total production of 1,383.8 mboe/d, a decrease of 1% sequentially, but exceeded the midpoint of guidance. GAAP cash operating costs (USD/boe) of $10.45 crept up 2%, while EOG held capital expenditures flat at $1.64 billion. The stock declined over 3% on the trading day May 6.