By Josh Beckerman

Shale driller EOG Resources Inc. reported another quarterly loss but made progress in productivity and cost reductions.

EOG raised its 2016 capital spending guidance by $200 million to the range of $2.6 billion to $2.8 billion, excluding acquisitions.

Shares rose 1.75% in after-hours trading to $93.69.

In September, Houston-based EOG agreed to buy Yates Petroleum Corp. for roughly $2.34 billion.

Over all, EOG posted a loss of $190 million, or 35 cents a share, compared with a loss of $4.08 billion, or $7.47 a share, a year earlier. The 2015 quarter included $4.1 billion of impairment charges. Loss excluding items was 40 cents a share, compared with a profit excluding items of 2 cents a share a year earlier.

Revenue fell 2.5% to $2.12 billion.

Analysts polled by Thomson Reuters expected a loss excluding items of 31 cents a share on revenue of $1.92 billion.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

November 03, 2016 22:12 ET (02:12 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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