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EOG - EOG Resources: A Big Earnings Drop But Cash Flows Will Look Better In Q2 Results
EOG Resources Inc.
EOG Resources (EOG) will likely report a big drop in earnings when it releases its quarterly results in the coming weeks. But the Houston, Texas-based company's cash flows, which will get support from crude oil hedges, will fare better. The company also did the smart thing of monetizing its crude oil hedges. Moving forward, EOG Resources' earnings will improve and it will likely post free cash flows as oil prices climb to $40 a barrel and the company restores curtailed production. The company likely won't make any major changes to its capital program