Aug 1 (Reuters) - EOG Resources posted a 21.7% rise in second-quarter profit on Thursday, as the company’s higher production of oil and gas more than offset a fall in prices.
The Houston-based company said net income attributable to shareholders rose to $847.8 million, or $1.46 per share, in the quarter ended June 30, from $696.7 million, or $1.20 per share, a year earlier.
The income included a $138.4 million gain from derivate contracts, compared with a year-ago loss of $145 million from them.
Total production rose 16% to 812,800 barrels of oil equivalent per day.
Reporting by Arunima Kumar in Bengaluru; Editing by Shinjini Ganguli