S&P: EOG Resources to stable

Standard & Poor's said it revised the outlook on EOG Resources Inc. to stable from negative and affirmed the A- corporate credit rating.

The revised outlook on EOG reflects the view that the company will maintain funds from operations to total debt above 50% over the next several years, the agency said. The company's operating and financial performance has improved in the first half of 2011, with good growth in liquids production.

The ratings on EOG reflect its strong operating track record, good organic growth prospects, healthy credit metrics, good mix between crude oil and natural gas production, and excellent cost structure, the agency said.

The stable outlook reflects the expectation that EOG will maintain appropriate credit measures for the rating over the next several years, the agency noted.

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