After spending most of the past year at a mediocre three-star rank, EOG Resources
As EOG Resources continues to make a push toward a more liquids-weighted portfolio of assets, more investors are seeing a better potential for profits from oil rather than natural gas. Along those lines, the company reached a milestone in the second quarter by generating more of its revenues from oil, condensate, and natural gas liquids compared to natural gas for the first time in its history.
Other energy companies such as Chesapeake Energy
EOG plans to continue shedding some of its noncore natural gas assets to help fund an increase in capital expenditures aimed at capitalizing on some of its drilling opportunities. And applying techniques of hydraulic fracturing and horizontal drilling to oil drilling is helping EOG and others like Brigham Exploration
The company has reported strong results from its drilling program in the Barnett shale and plans to drill more than double the number of wells in the Eagle Ford shale next year than it did in 2010 -- the same area where Petrohawk Energy
Do you think EOG Resources deserves its raised status? Add your thoughts in the comments box below on this page, or head over to CAPS to rate the company and check out all the information and opinions the community offers, absolutely free.
The Motley Fool Stock Advisor service looks for companies with strong management poised to beat the market over the long haul. To see all the stocks that have helped Tom and David Gardner beat the market by 72 points on average, take a free 30-day trial.