HUGE CAVEAT: Please note that the following is not 'research'. It reads like a bought and paid for pitch.
Add to that the fact the stock close at $68.41 on Oct. 3 and this is not the type of thing I usually have an interest in, at least not at this price.
The only reason we're linking is as a personal bookmark, I'm intrigued by the story.
See CAVEAT above.
[uhh, I think you've made your point -ed]
I thought I saw this at Money Morning but couldn't find it, this version is from the Wall Street Examiner:
EOG Resources Inc.(NYSE: EOG) Is Looking to Lead U.S. Oil Production
EOG Resources Inc. (NYSE: EOG) has undergone a massive change in its business model - and it's paying off astoundingly.
EOG Resources used to be known as a leader in natural gas exploration and production.
But low natural gas prices led to declining profits. In fact, the company lost $70.9 million in 2010's third quarter.
So it embraced a major production and technology change. EOG perfected horizontal drilling techniques to access shale rock formations trapping large reserves of oil - instead of reserves of gas, as many competitors were doing.
Now EOG has transformed from a leading gas drilling company to a major oil producer, increasing its liquid production last year by 49%.
With this new production model, EOG's profits are driven by high oil prices instead of depressed natural gas prices. The company just reported its third-quarter earnings and the results are astonishing - it turned a loss from the same quarter last year into a blowout earnings surprise this year. Net income hit $541 million.
The bottom-line growth helped the company's share price rally 20% since earnings were released Nov. 2.
By changing its focus to profitable oil production, EOG Resources is now a low-risk, high-reward energy stock, making it a "Buy" for investors looking to cash in on rising oil prices. (**)
EOG Resources Inc.: Unlocking Profits from Shale Oil
EOG Resources is one of the largest independent (non-integrated) U.S. oil and natural gas companies, with proven reserves in the United States, Canada, Trinidad, the United Kingdom, and China.
It's the largest oil producer in North Dakota's Bakken Shale, and the largest producer in the Eagle Ford Shale in South Texas. These two shale oil fields have played a key role in ramping up U.S. oil production over the past few years, with each having an estimated 4 billion barrels of recoverable reserves....MORE
