U.S. markets closed
  • S&P Futures

    4,217.50
    +3.75 (+0.09%)
     
  • Dow Futures

    33,795.00
    +34.00 (+0.10%)
     
  • Nasdaq Futures

    14,135.00
    +5.00 (+0.04%)
     
  • Russell 2000 Futures

    2,282.00
    +1.10 (+0.05%)
     
  • Crude Oil

    73.60
    -0.06 (-0.08%)
     
  • Gold

    1,783.20
    +0.30 (+0.02%)
     
  • Silver

    25.97
    -0.06 (-0.21%)
     
  • EUR/USD

    1.1913
    -0.0011 (-0.10%)
     
  • 10-Yr Bond

    1.4840
    +0.0340 (+2.34%)
     
  • Vix

    17.89
    -2.81 (-13.57%)
     
  • GBP/USD

    1.3920
    -0.0013 (-0.09%)
     
  • USD/JPY

    110.3210
    +0.0230 (+0.02%)
     
  • BTC-USD

    31,459.08
    -4,039.17 (-11.38%)
     
  • CMC Crypto 200

    753.28
    -97.07 (-11.42%)
     
  • FTSE 100

    7,062.29
    +44.82 (+0.64%)
     
  • Nikkei 225

    28,010.93
    0.00 (0.00%)
     

UPDATE 1-EOG Resources first-quarter profit surges as crude prices rebound

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
  • Oops!
    Something went wrong.
    Please try again later.

(Adds background on crude prices, details on results)

May 6 (Reuters) - U.S. oil and gas producer EOG Resources Inc said on Thursday quarterly adjusted profit more than doubled from the previous three months, driven by higher crude prices as COVID-19 vaccine rollouts and easing travel curbs boosted fuel demand.

The easing has sparked optimism among shale producers after they endured a year of destruction in crude prices and demand, with U.S. crude prices gaining 23% in the first quarter.

EOG said total production in the first quarter fell to 778,900 barrels of oil equivalent per day (boepd) from the previous quarter's 801,500 boepd.

The company said its production was impacted by the Winter Storm Uri that swept across U.S. central and southern states in mid-February.

The Houston-based company's adjusted net income was $946 million, or $1.62 per share, for the March quarter, compared with a profit of $411 million, or 71 cents per share, in the fourth quarter. (Reporting by Arunima Kumar in Bengaluru; Editing by Sriraj Kalluvila)