SAN FRANCISCO, Nov 5 (Reuters) - EOG Resources Inc's quarterly profit plunged as oil and gas prices tumbled from a year ago and revenue missed Wall Street estimates, while profit was ahead after accounting for trading contracts.
EOG also said on Thursday it grew third-quarter production by 4 percent and bumped up 2009 output expectations to 6 percent from 5.5 percent, while forecasting 2010 growth of 13 percent and lifting its liquids production growth target for next year to 50 percent from 20 percent.
Third-quarter profit was $4.2 million, or 2 cents per share, compared with $1.57 billion, or $6.20 per share, in the same quarter a year earlier. Revenue fell 69 percent to $1.01 billion.
Adjusting for trading contracts and other items, EOG made a profit of $203.9 million, or 81 cents per share.
Wall Street analysts, on average, had expected a profit of 66 cents per share on revenue of $1.13 billion, according to Thomson Reuters I/B/E/S.

(Reporting by Braden Reddall in San Francisco; editing by Andre Grenon) Keywords: EOG/ (braden.reddall@thomsonreuters.com +1 415 677 2543; braden.reddall.reuters.com@reuters.net)

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