Aug 1 (Reuters) - EOG Resources ( EOG ) beat Wall Street
estimates for second-quarter profit on Thursday as the oil and
gas producer benefited from higher oil production.
The company reported an adjusted profit of $3.16 per share
for the quarter ended June 30, compared with analysts' average
estimate of $2.96, according to LSEG data.
Overall production for the April-June quarter was 1.05
million barrels of oil equivalent per day (boepd), higher than
the 970,300 boepd in the same quarter a year earlier. Analysts
on average had estimated 1.04 million boepd.
U.S. oil production and demand rose to a four-month high in
April, according to the Energy Information Administration's
(EIA) Petroleum Supply Monthly report, boosting revenues of
producers like EOG Resources ( EOG ).
The company also forecast production of 1.05 million boepd
to 1.08 million boepd in the third quarter.