Speaking of Shellacking --> EOG

Speaking of shellackings -- what was that all about? EOG's third quarter earnings?

EOG has some "'splainin' to do."

Chesapeake, which I think of a natural gas company: earnings more than double, 75 cents vs 30 cents; exceeds Wall Street expectations.

EOG: er, not so good.

Mark Papa: However, because of lower cash flows from weak gas prices, higher frac costs, delays in frac equipment availability and the pattern drilling used to maximize resource plays, we've also reduced our 2011 and 2012 liquids growth targets to better reflect real-world conditions.

I assume Chesapeake had the same issue with "weak gas prices." Delays in frac equipment availability? Chesapeake didn't? Okay?

For a dramatic re-enactment of the shellacking shareholders gave EOG yesterday, click on clip below.


Shareholders Shellacking EOG