, Feb 18 (Reuters) – Oil and natural gas
producer EOG Resources Inc posted a quarterly profit far
below Wall Street’s expectations on Wednesday and slashed its
2015 budget, marking the latest energy giant to fall victim to
plunging crude prices.
Shares in the company, the largest oil producer in the
contiguous United States, fell more than 6 percent in
WILLISTON, N.D. (Reuters) – Hedge fund Paulson & Co has boosted its stake in Whiting Petroleum Corp to become the No. 1 shareholder in North Dakota’s largest oil producer, taking advantage of plunging crude prices that have pummeled the company’s stock.
Paulson, which also holds large stakes in Time Warner Cable Inc and Shire Plc, added about 4.1 million shares to its position in Denver-based Whiting in the fourth quarter of 2014, a filing with the U.S. Securities and Exchange Commission showed on Tuesday.