Oil & Gas Companies Report Second Quarter Financial Results - Research Report on Marathon Oil, EOG Resources, LINN, Devon Energy, and BreitBurn Energy Partners

NEW YORK, August 14, 2013 /PRNewswire/ --

Today, Investors' Reports announced new research reports highlighting Marathon Oil Corporation (NYSE: MRO), EOG Resources, Inc. (NYSE: EOG), Linn Energy, LLC (NASDAQ: LINE), Devon Energy Corporation (NYSE: DVN), and BreitBurn Energy Partners L.P. (NASDAQ: BBEP). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.

Marathon Oil Corporation Research Report

On August 6, 2013, Marathon Oil Corporation (Marathon Oil) released its financial results for Q2 2013. Total revenues and other income were up 3.0% YoY and down 5.1% QoQ to $3.9 billion. Total Company sales volumes (excluding Libya) during Q2 2013 averaged 457,000 net boed (barrel of oil equivalents per day), compared to 485,000 net boed for Q1 2013. Net income was $426 million or $0.60 per diluted share, compared to $393 million or $0.56 in Q2 2012, and $383 million or $0.54 per diluted share in Q1 2013. According to Clarence P. Cazalot, Jr. Marathon Oil's Executive Chairman, "Marathon Oil continued to execute well operationally and had strong second quarter operating cash flows of $1.445 billion, before changes in working capital, in spite of lower international liquid hydrocarbon realizations compared to the first quarter." The Full Research Report on Marathon Oil Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investorsreports.com/report/2013-08-12/MRO]

--

EOG Resources, Inc. Research Report

On August 6, 2013, EOG Resources, Inc. (EOG Resources) reported its Q2 2013 financial results. The Company reported net operating revenues of $3.8 billion, up 32.0% YoY. The Company's net income of $659.7 million or $2.42 per diluted share was higher as compared to $395.8 million or $1.47 per diluted share in Q2 2012. Commenting on the results, President and Chief Executive Officer, William R. Thomas said, "We have the confidence to raise the bar on EOG's performance expectations because our outstanding assets perform better and better, quarter after quarter, EOG expects to achieve these higher goals within our previously stated capex estimate." The Full Research Report on EOG Resources, Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investorsreports.com/report/2013-08-12/EOG]

--

Linn Energy, LLC Research Report

On August 8, 2013, Linn Energy, LLC (LINN) released its Q2 2013 financial results. Total revenues were up by 4.8% YoY to $838.8 million. Net income was $345.2 million or $1.46 per diluted share, compared to $237.1 million or $1.19 per diluted share in Q2 2012. The Company increased its daily production to an average of 780 MMcfe/d (millions of cubic feet equivalent per day), compared to 630 MMcfe/d for Q2 2012. According to Mark E. Ellis, Chairman, President and CEO of LINN, "LINN has experienced a challenging start to the year as lower than expected returns from our capital program coupled with historically low NGL prices have weighed on year-to-date results. While these and other challenges have made for a disappointing first half of 2013, we are optimistic about the remainder of the year and expect to deliver annual production growth of approximately 8% - 10%, as July volumes averaged approximately 815 MMcfe/d." LINN stated that it expects production for Q3 2013 and Q4 2013, to be approximately 820 MMcfe/d and 850 MMcfe/d, respectively. The Full Research Report on Linn Energy, LLC - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investorsreports.com/report/2013-08-12/LINE]

--

Devon Energy Corporation Research Report

On August 7, 2013, Devon Energy Corporation (Devon Energy) reported its Q2 2013 financial results. Total revenues of the Company increased 20.8% YoY to $3.1 billion. Net earnings were $683 million or $1.68 per diluted share, compared to $477 million or $1.18 per diluted share in Q2 2012. During the quarter, Devon Energy produced 697.6 MBOED (million oil equivalent barrels per day) compared to 678.9 MBOED in Q2 2012. Commenting on the results, John Richels, President and CEO of Devon Energy said, "The second quarter was an outstanding one for Devon as we continued to successfully grow high-margin oil production. We remain on track to deliver total companywide oil production growth in the high teens for 2013, led by light-oil growth of nearly 40 percent in the U.S." The Full Research Report on Devon Energy Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investorsreports.com/report/2013-08-12/DVN]

--

BreitBurn Energy Partners L.P. Research Report

On August 6, 2013, BreitBurn Energy Partners L.P. (the Partnership) released its financial results for Q2 2013. Total revenues and other income items were up 6.8% YoY to $217 million. Net income attributable to the Partnership was $76.4 million or $0.75 per diluted limited partner unit, compared to $92.5 million or $1.29 per diluted limited partner unit in Q2 2012. In Q2 2013, the partnership reached a record high of quarterly production of 2.5 MMBoe (Million barrels of oil equivalent), representing a 25.6% YoY growth. According to Hal Washburn, BreitBurn Energy Partners CEO, "The Partnership delivered excellent financial and operating results including record quarterly production and Adjusted EBITDA above our guidance range. The active development programs for our legacy and newly acquired assets continued to yield strong results this quarter." The Full Research Report on BreitBurn Energy Partners L.P. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investorsreports.com/report/2013-08-12/BBEP]

----

EDITOR NOTES:

1. This is not company news. We are an independent source and our views do not reflect the companies mentioned.
2. Information in this release is fact checked and produced on a best efforts basis and reviewed by a CFA. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below.
3. This information is submitted as a net-positive to companies mentioned, to increase awareness for mentioned companies to our subscriber base and the investing public.
4. If you wish to have your company covered in more detail by our team, or wish to learn more about our services, please contact us at [email protected].
5. For any urgent concerns or inquiries, please contact us at [email protected].
6. Are you a public company? Would you like to see similar coverage on your company? Send us a full investors' package to [email protected] for consideration.

COMPLIANCE PROCEDURE

Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Equity News Network. An outsourced research services provider has, through Chartered Financial Analysts, only reviewed the information provided by Equity News Network in this article or report according to the Procedures outlined by Equity News Network. Equity News Network is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be.

NOT FINANCIAL ADVICE

Equity News Network makes no warranty, expressed or implied, as to the accuracy or completeness or fitness for a purpose (investment or otherwise), of the information provided in this document. This information is not to be construed as personal financial advice. Readers are encouraged to consult their personal financial advisor before making any decisions to buy, sell or hold any securities mentioned herein.

NO WARRANTY OR LIABILITY ASSUMED

Equity News Network is not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by Equity News Network whatsoever for any direct, indirect or consequential loss arising from the use of this document. Equity News Network expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Equity News Network does not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

InvestorsReports.com

SOURCE Investors' Reports