4 Things EOG Resources Inc.'s CEO Wants You to Know About How It Responds to Lower Oil Prices
EOG Resources (NYSE: EOG) recently reported decent second-quarter results. While it didn't earn as much money as analysts expected due in part to weaker oil prices, its production and costs were better than anticipated, which demonstrated the strength of its underlying operations. Still, oil prices remain below what the industry expected this year, which is forcing rivals to rethink their plans.
Given those market conditions, CEO Bill Thomas stated on the accompanying conference call that: "Over this last quarter, the question we received most often from the investment community was, how does EOG plan to respond to lower oil prices. Obviously, that question isn't unique to ask as the entire industry is being asked to demonstrate capital discipline in the face of extended lower commodity prices."
He then laid out four things the company focuses on, which dictate how it responds to the direction of oil prices.
Source: Fool.com
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