EOG = FANTASTIC 3rd Quarter Results

[dan_s]

EOG Resources Announces Excellent Third Quarter 2014 Results and Raises Crude Oil Production Growth Target for Second Time in 2014

HOUSTON, Nov. 4, 2014 /PRNewswire/ --
•Increases 2014 Full-Year Crude Oil and Condensate Production Growth Goal to 31 Percent from 29 Percent
•Raises 2014 Total Production Growth Target to 16.5 Percent from 14 Percent
•Reports 29 Percent Increase in U.S. Crude Oil and Condensate Production and 17 Percent Growth in Total Company Production Year-Over-Year
•Confirms Prolific, Highly Over-Pressured Crude Oil Window on Delaware Basin Wolfcamp Acreage
•Realizes Strong Drilling Results from Eagle Ford, Emerging Delaware Basin and Rockies Crude Oil Plays

The attribute a lot of this to longer laterals using a lot more sand. This is great news for EMES and HCLP.

It is also great news for BTE. Baytex Eagle Ford acreage is in the Sweet Spot of the play, very close to where EOG is get the best results.

[dan_s]

EOG Resources, Inc. (EOG) (EOG) today reported third quarter 2014 net income of $1,103.6 million, or $2.01 per share. This compares to third quarter 2013 net income of $462.5 million, or $0.85 per share.

Adjusted non-GAAP net income for the third quarter 2014 was $720.6 million, or $1.31 per share. < Hit my forecast on the nose.

[dan_s]

For the period November 1 through December 31, 2014, EOG has crude oil financial price swap contracts in place for 192,000 Bopd at a weighted average price of $96.15 per barrel. For the period January 1 through December 31, 2015, EOG has crude oil financial price swap contracts in place for an average of 28,350 Bopd at a weighted average price of $91.00 per barrel, excluding unexercised options.

For December 2014, EOG has natural gas financial price swap contracts in place for 330,000 million British thermal units per day (MMBtud) at a weighted average price of $4.55 per million British thermal units (MMBtu), excluding unexercised options.

For the period January 1 through December 31, 2015, EOG has natural gas financial price swap contracts in place for 175,000 MMBtud at a weighted average price of $4.51 per MMBtu, excluding unexercised options. (For a comprehensive summary of crude oil and natural gas derivative contracts, please refer to the attached tables.)

[dan_s]

EOG Resources (EOG): An updated Net Income & Cash Flow Forecast model has been posted under the Sweet 16 Tab.

My Fair Value Estimate is $120.25/share, compared to First Call's Price Target of $114.71.