EOG's profit surges on production growth, lower costs

摘要

Lifted by rising oil prices, Houston-based EOG Resources Inc. saw its first-quarter 2018 profit soar to $639.6 million, far above the $28.5 million earned a year ago, as its premium drilling strategy and technical advances grew production across its North American assets. "The power of premium-only drilling strategy is reflected in our first-quarter performance," EOG CEO Bill Thomas said May 4 on an earnings call. "We earned a company record direct after-tax rate of return of 150% on $1.5 billion in total investment capital," he added, calling the feat "remarkable compared to any standard."