November 2, 2010 / 9:35 PM / in 7 years

UPDATE 1 - EOG has quarterly loss, lowers output forecast

* Lowers 2010 output forecast

* EPS in-line with Wall Street

* Shares down 3 pct after-hours

HOUSTON, Nov 2 (Reuters) - EOG Resources Inc (EOG.N) reported a quarterly loss compared with a year-ago profit and the U.S. exploration company lowered its production outlook for the year, citing weak natural gas prices.

EOG said it now expects 2010 oil and gas production growth of 9 percent, down from its August forecast for an increase of 13 percent.

EOG said its third-quarter loss was $70.9 million, or 28 cents per share, compared with a profit of $4.2 million or 2 cents.

Excluding one-time items, EOG had a profit of 18 cents a share, matching the Wall Street consensus estimate of 18 cents per share, according to Thomson Reuters I/B/E/S.

Shares of EOG fell to $95 after the close of regular trading. The stock closed at $97.74 on the New York Stock Exchange. (Reporting by Anna Driver in Houston; Editing by Bernard Orr)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below