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EOG to continue selling certain natural gas assets

11/15/2010
Paula DittrickSenior Staff WriterHouston independent EOG Resources Inc. plans to continue its strategy of selling certain natural gas assets going into 2011 after a comparison of its inventory of liquids-rich drilling opportunities against depressed gas prices, said Mark G. Papa, chairman and chief executive officer.Papa's comments came during a third-quarter earnings call in which EOG reported a $70.9 million loss compared with third-quarter 2009 net income of $4.2 million. EOG will use proceeds from the sale of gas assets to fill any gap between estimated cash flows and capital spending.The company plans to close on $600 million to $1 billion in asset sales by yearend 2010 and plans ano...
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