EOG Reports 3Q11 -- Wow; MRO Profits Quadruple -- Wow, Wow, Wow -- SM Reports -- The Bakken, North Dakota, USA

EOG today reported third quarter 2011 net income of $540.9 million, or $2.01 per diluted share. This compares to a third quarter 2010 net loss of $70.9 million, or $0.28 per diluted share.

I have not read any more than that, but for now, I.N.C.R.E.D.I.B.L.E.


Okay, now on to Marathon Petroleum:

Marathon Petroleum Corp.'s profit quadrupled in the third quarter as its refineries used relatively cheap oil while prices rose for the fuel it sold. 

The Findlay, Ohio company, which split from Marathon Oil Corp. earlier this year, on Tuesday reported earnings of $1.13 billion, or $3.16 per share, for the three months ended Sept. 30. That compares with $277 million, or 77 cents per share, for the same part of 2010. Revenue increased 30 percent to $20.65 billion in the quarter.

The results beat analyst forecasts of $2.44 per share on revenue of $18.12 billion, according to FactSet.

But Marathon Oil's net fell 42 percent.

And SM reported a great quarter:

SM Energy reported net income for the third quarter of 2011 of $230.1 million or $3.41 per diluted share. This compares to net income of $15.5 million, or $0.24 per diluted share, for the same period of 2010.

The increase in net income between these two periods is due to higher operating income driven by higher production year over year as well as the recognition in the third quarter of 2011 of a gain on divestiture activity related to the previously announced sale of operated Eagle Ford shale properties and large non-cash gains associated with the Company's commodity derivative program.

Adjusted net income for the third quarter of 2011 was $42.4 million, or $0.63 per diluted share, compared to adjusted net income of $20.0 million, or $0.31 per diluted share, for the same period of 2010. Adjusted net income excludes certain items that the Company believes affect the comparability of operating results.