EOG Resources (EOG) continues to fall amid weakening oil. EOG Resources is a major US independent oil and gas company, represented in almost all the major oil and gas regions of the US and Canada, working at fields in the North Sea, Trinidad and China as well. In addition, the company develops Eagle Ford Shale in Texas. Falling oil prices have negatively affected the financial and operating results of EOG Resources. According to the financial report for 3Q15, released in November, revenue dropped from USD 4.59 bn to USD 2.14 bn. GAAP loss widened from USD 1.1 bn last year to USD 4.1 bn. Oil production fell by 7.3% y-o-y, while average sales price contracted 53% y-o-y. Outlook for oil is still negative as Iranian oil will increase the supply and put pressure on prices. To remind, production cost at shale deposits is much higher than at conventional fields, which means that companies developing these fields suffer from falling oil prices more than others.In view of the above issues, I would recommend to short EOG Resources (EOG). The mid-term target is USD 45. The short-term target is USD 59. $EOG, EOG Resources, Inc. / 1440