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EOG Resources posts lower Q2 results despite production increase

EOG Resources Inc. on Aug. 1 reported a second-quarter adjusted net income of $762.3 million, or $1.31 per share, a decrease from $794.9 million, or $1.37 per share, in the year-ago quarter.

The S&P Global Market Intelligence consensus normalized EPS estimate for the second quarter was $1.32.

Net income amounted to $847.8 million, or $1.46 per share, up from $696.7 million, or $1.20 per share, in the same period a year ago.

The oil and gas producer posted second-quarter operating revenues of $4.70 billion, rising from $4.24 billion in the prior-year period.

Total wellhead volumes came in at 74.0 million barrels of oil equivalent, up from 63.9 million boe in the year-ago quarter.