EOG Resources Posts Smaller Quarterly Loss
Oil producer EOG Resources Inc's loss in the third quarter was smaller than a year earlier the company took an impairment charge of more than $6 billion.
The company posted a net loss of $190 million, or 35 cents per share, compared with a loss of $4.08 billion, or $7.47 per share, a year earlier.
EOG recorded a $6.31 billion charge in year-ago quarter as it wrote down the valuation of its oil and gas assets after a more than 55 percent slump in oil prices.
The company's net operating revenue fell 2.5 percent to $2.12 billion in the latest quarter.
(Reporting by Arathy S Nair; Editing by Savio D'Souza)
(Reporting by Arathy S Nair; Editing by Savio D'Souza)
