UPDATE 1-EOG quarterly profit rises along with oil production

Wed Nov 6, 2013 5:38pm EST
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Nov 6 (Reuters) - EOG Resources Inc on Wednesday reported a better-than-expected third-quarter profit on a jump in production of crude oil from shale formations like the Eagle Ford in south Texas.

EOG also lifted its 2013 outlook for oil production growth to 39 percent from 35 percent.

Profit rose to $463 million, or $1.69 per share, from $356 million, or $1.31 per share in the same period a year earlier.

Excluding items, EOG reported a profit of $2.32 per share, exceeding the $2.05 per share that analysts on average had expected, according to Thomson Reuters I/B/E/S.

Houston-based EOG, which also drills oil wells in North Dakota's Bakken shale, said its crude production rose 39 percent from a year-ago.