EOG Resources Inc's Drilling Machine Easily Beat Back Hurricane Harvey
As the largest producer in the Eagle Ford Shale of south Texas, EOG Resources (NYSE: EOG) was in the crosshairs of Hurricane Harvey when it slammed into the state last quarter. However, while the storm's unrelenting rain forced the company to hold back 15,000 barrels of oil per day (BPD) during the third quarter, that didn't dampen its results one bit. In fact, the shale giant delivered expectation-trouncing earnings while reiterating that it's still on track to boost oil production by 20% this year.
Further, EOG Resources once again showed its knack for exploration in the quarter by unveiling not one, but two new premium-return drilling plays. Because of that, the driller has the inventory to deliver high-return growth for investors for years to come.
Image source: Getty Images.
Source: Fool.com
EOG Resources Inc. Stock
The stock is an absolute favorite of our community with 33 Buy predictions and no Sell predictions.
With a target price of 140 € there is a slightly positive potential of 15.51% for EOG Resources Inc. compared to the current price of 121.2 €.
