The Houston oil and gas company reported $2.9 billion in profits for the three month...
. Revenues surged nearly 60 percent to $7.6 billion from $4.8 billion during the same period in 2021.
The company also said it now operates in another basin, bringing its total up to seven. EOG bought a 395,000 net acre position in part of the Appalachia Basin in Ohio for around $500 million, the company said.Ezra Yacob, EOG Resources’ CEO, said operating in multiple basins gives the company a competitive advantage.
"It provides flexibility to allocate capital to the highest return projects across a diverse and improving inventory of future well locations,” Yacob said in a statement. “Operating in multiple basins also fosters innovation through diverse, high-performing teams creating new ideas at the field level that are then shared across our operations.”
EOG Resources also said it increased production by nearly 75,000 barrels of oil equivalent per day, a measurement which includes natural gas. The company said it produced 919,200 barrels per day in the third quarter, compared with 844,400 in the same time period last year.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Delta Airlines pilots overwhelmingly vote 'yes' to strikePilots have overwhelmingly voted 'yes' to strike in order to attain a new contract with Delta Airlines. Among the 96% of union members who participated in the vote, 99% voted for a strike.
Read more »
Ferrari lifts profit forecast after strong Q3, keeps cautious stance on marginsFerrari is improving its forecasts for full-year results after beating expectations in Q3, supported by a double-digit increase in shipments.
Read more »
Cheniere revenues more than doubled in Q3 as LNG demand soaredIts revenues for the period more than doubled to $8.9 billion from $3.2 billion last...
Read more »
Suncor quarterly profit more than doubles, beats estimates on crude rallySuncor Energy Inc said on Wednesday its third-quarter adjusted profit more than doubled and beat analysts' expectations, as the Canadian energy major was supported by higher oil and refined product prices.
Read more »
Historic Pomona Raceway Gets New Life With Meaty Track, NHRA Event SponsorIn-N-Out Burger serves up super-sized ‘double-double’ as part of NHRA, Pomona Raceway naming rights deal.
Read more »