Driller: EOG at work
related stories
EOG sees third-quarter swap windfall
EOG Resources said today it expects to realise net gains in the third quarter from natural gas and crude oil financial price swap contracts.
The natural gas producer sees a net gain of $43.6 million from its natural gas and crude oil financial price swap contracts, and a net gain of $48.4 million from its natural gas financial price swap contracts, according to a filing with the US Securities & Exchange Commission, Reuters reported.
EOG said that since 2 August it has entered into natural gas financial price swap contracts covering 40,000 million British Thermal Units (BTU) per day for 2008, at an average price of $8.06 per million BTU.