May 7 (Reuters) - Shares of U.S. oil and gas company EOG Resources Inc climbed more than 8 percent on Tuesday, a day after the company reported first-quarter earnings that topped Wall Street expectations on higher oil production from its domestic shale wells.
'We hit on all cylinders in the first quarter,' Mark Papa, EOG's chairman and chief executive, told analysts on a conference call on Tuesday.
Lower exploration costs, higher volumes of crude oil and higher crude oil price realizations fueled the earnings beat, Papa said.
'Overall, a very strong start to 2013 for EOG,' analysts at Simmons & Co International said in a note to clients.
EOG's first quarter earnings rose 53 percent from a year earlier and its crude oil production climbed 33 percent.
Shares of EOG rose to an interday high of $137.86, their highest point in about five years. The stock was up $11.01 at $137.05 in morning trade on the New York Stock Exchange.
(Reporting By Anna Driver; editing by Jim Marshall) Keywords: EOG STOCK/
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