By Anna Prior
EOG Resources Inc. (EOG) said it expects a $155.7 million
non-cash loss in the first quarter on the mark-to-market of its
crude-oil and natural-gas derivatives contracts, according to a
filing with the Securities and Exchange Commission.
The natural-gas-and-oil producer said that in the first quarter,
the net cash paid for settlements of crude-oil and natural-gas
derivative contracts was $34 million.
Meanwhile, the company's actual realizations for crude oil and
natural gas for the quarter ended March 31 differ from the average
NYMEX prices due to delivery location and quality adjustments, said
EOG.
The company typically reports its adjusted profit figures that
exclude impacts from mark-to-market commodity derivative contracts.
Analysts polled by Thomson Reuters expect the company to report
adjusted per-share earnings of $1.15 for the first-quarter.
In February, the company reported that it swung to a profit in
the fourth quarter amid a strong revenue increase, largely driven
by higher crude-oil and condensate revenue.
Write to Anna Prior at anna.prior@wsj.com
Access Investor Kit for EOG Resources, Inc.
Visit
http://www.companyspotlight.com/partner?cp_code=A591&isin=US26875P1012
Subscribe to WSJ: http://online.wsj.com?mod=djnwires