EOG Resources Inc. posted a wider loss and a sharp revenue decline in the first quarter, but the oil-and-gas producer said it exceeded its goals for cost-cutting and U.S. oil production. EOG, with a market value of more than $44 billion, is one of the nation’s top shale producers, operating in areas such as the Eagle Ford field and the Delaware Basin. It has a smaller international presence in locations including Trinidad and Tobago. EOG said its lease and well expenses fell 29%, while total operating expenses declined 20% to $1.99 billion from $2.49 billion. The company said its move earlier this year to focus on “premium drilling” operations helped it significantly improve average well performance. Amid a severe and prolonged pricing downturn, EOG said in February that its 2016 capital budget would be about $2.4 billion to $2.6 billion, representing a year-over-year decline of 45% to 50%. For […]