Aug 1 (Reuters) - EOG Resources (EOG.N) , opens new tab beat Wall Street estimates for second-quarter profit on Thursday as the oil and gas producer benefited from higher oil production.

The company reported an adjusted profit of $3.16 per share for the quarter ended June 30, compared with analysts' average estimate of $2.96, according to LSEG data.

Overall production for the April-June quarter was 1.05 million barrels of oil equivalent per day (boepd), higher than the 970,300 boepd in the same quarter a year earlier. Analysts on average had estimated 1.04 million boepd.

U.S. oil production and demand rose to a four-month high in April, according to the Energy Information Administration's (EIA) Petroleum Supply Monthly report, boosting revenues of producers like EOG Resources.

The company also forecast production of 1.05 million boepd to 1.08 million boepd in the third quarter.

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https://www.reuters.com/business/energy/eog-resources-beats-second-quarter-profit-estimates-2024-08-01/