Young meets with EOG officals - Trinidad and Tobago Newsday newsday.co.tt - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newsday.co.tt Daily Mail and Mail on Sunday newspapers.
(Reuters) - U.S. shale oil firm EOG Resources Inc on Thursday reported a jump in fourth-quarter profit as crude prices soared to multi-year highs foll.
(Reuters) - U.S. shale oil firm EOG Resources Inc on Thursday reported a jump in fourth-quarter profit as crude prices soared to multi-year highs foll.
EOG Resources hikes dividend by 10% after profit nearly doubles reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
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FILE PHOTO: The logo of U.S. oil and gas company EOG Resources is seen in its office in Chongqing, China December 15, 2017. REUTERS/Chen Aizhu
(Reuters) - Oil and gas producer EOG Resources Inc on Thursday boosted its annual dividend by 10% after its fourth-quarter adjusted profit came in well above expectations, helped by cost cuts and a recent recovery in commodity prices.
Easing of COVID-19 related restrictions has sparked optimism among shale producers after they endured a year of destruction in crude prices and demand. U.S. crude rose to $63.53 on Thursday, its highest since May 2019.
Despite the higher commodity prices, EOG forecast its crude oil output this year between 434,000 barrels per day (bpd) and 446,000 bpd, about flat compared to the fourth-quarter rate of 444,800 bpd.