EOG Resources Announced Commencement Of Public Offering Of 1

February 28, 2011

EOG Resources (NYSE:EOG) announced the commencement of a registered underwritten public offering of 11.8 million shares of its common stock, according to a Bloomberg report.The company will grant the underwriters a 30-day option to purchase up to 1.77 million additional shares of common stock.Net proceeds are expected to be used for general corporate purposes.EOG Resources has a potential upside of 0.3% based on a current price of $112.8 and an average consensus analyst price target of $113.18.