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360 Articles

Oxy: We’re Not Trying to Outpace the Majors, We’re Trying to Outperform Them

Oxy: We’re Not Trying to Outpace the Majors, We’re Trying to Outperform Them

Eighth quarterly profit in a row By Richard Rostad, analyst, Oil & Gas 360 Occidental Petroleum (ticker: OXY) reported Q4 results and reserves today, showing $706 million in net income, or $0.93 per share. Oxy earned a total of $4.1 billion in 2018, significantly improved from the $1.3 billion the company earned in 2017. This quarter marks the eighth consecutive[Read More…]

PDC Plans Free Cash in 2019 At $50 Oil

PDC Plans Free Cash in 2019 At $50 Oil

CapEx down 15%, production up 20% By Richard Rostad, analyst, Oil & Gas 360 PDC Energy (ticker: PDCE) announced 2019 guidance today, outlining the company’s transition from aggressive growth to a more moderate posture. PDC plans to spend about $840 million in 2019, down from the $985 million the company spent in 2018. The vast majority of this sum, $800[Read More…]

One Fifth of U.S. Frac Fleets Are Idled, Liberty Estimates

One Fifth of U.S. Frac Fleets Are Idled, Liberty Estimates

Revenue falls 15% sequentially By Richard Rostad, analyst, Oil & Gas 360 Liberty Oilfield Services (ticker: LBRT) announced fourth quarter results today, showing $34 million in net income, or $0.27 per share. Liberty reported $473 million in revenue in Q4, down 15% sequentially but up 5% year-over-year. The company generated just under $13 million in adjusted EIBTDA per active frac[Read More…]

February 6, 2019 - 3:53 pm 360 Articles, Closing Bell Story, Earnings, Oilfield Services
Anadarko Says Full Speed Ahead

Anadarko Says Full Speed Ahead

Not changing November’s 2019 spending guidance: $4.5 billion with 70 percent going to shale By Richard Rostad, analyst, Oil & Gas 360 Anadarko Petroleum (ticker: APC) announced fourth quarter results today, showing net income of $102 million, or $0.21 per share. Anadarko produced 701 MBOEPD in Q4 2018, up from 637 MBOEPD in Q4 2017. Yearly production was down slightly,[Read More…]

ConocoPhillips Reports Its First Annual Profit Since 2014

ConocoPhillips Reports Its First Annual Profit Since 2014

Earned $6.3 billion in 2018 The country’s largest independent E&P announced fourth quarter results today as ConocoPhillips (stock ticker: COP) ($COP) showed earnings of $1.9 billion, or $1.61 per share. The company earned a total of $6.3 billion in 2018, or $5.32 per share. Conoco has been firing on all cylinders since mid-2017, and has reported six straight quarters of[Read More…]

Here is Where Drilling, Completions Are Going in 2019

Here is Where Drilling, Completions Are Going in 2019

Core Lab is testing Midland and Delaware, reveals trends for completions in 2019 Core Laboratories (stock ticker: CLB) announced fourth quarter results today and detailed some important trends it sees for the industry in 2019. Core Lab reported net earnings of $8.8 million, or $0.20 per share. The company reported 173.2 million in revenue in Q4, up 2% year-over-year. Permian[Read More…]

Schlumberger CEO Discusses U.S. Shale Slowing, International Activity Growing

Schlumberger CEO Discusses U.S. Shale Slowing, International Activity Growing

North American revenue down 12% sequentially Schlumberger (stock ticker: $SLB) kicked off the quarterly earnings season today, announcing net earnings of $538 million, or $0.39 per share. Schlumberger’s Q4 2018 results present a mixed comparison to its Q4 2017 results. At $8.2 billion, revenue is flat while operating income is down 16%. The company reported a loss last year, so[Read More…]

BAM: It’s Earnings Season (Again) – Here are the Q4 2018 Oil & Gas Company Estimates

BAM: It’s Earnings Season (Again) – Here are the Q4 2018 Oil & Gas Company Estimates

Seems like just yesterday it was Q3 reporting season. But time between quarterly earnings reports accelerates within the public company universe. Stay up to date with earnings calls here. EnerCom, Inc. has compiled first quarter earnings per share, revenue, EBITDA and cash flow per share analyst consensus estimates on 104 E&P and 77 Oilfield Service companies in the EnerCom database. Download[Read More…]

Rosehill Reports 273% YOY Production Growth

Rosehill Reports 273% YOY Production Growth

Houston-based Rosehill Resources Inc. (ticker: ROSE) reported its Q3 results yesterday and held its earnings call last week. Highlights from the Q3 earnings report included: Reported a net loss attributable to Rosehill of $31.4 million, or $4.76 per share, for the three months ended September 30, 2018, which included a $62.3 million non-cash, pre-tax loss on commodity derivative instruments. Third[Read More…]

November 12, 2018 - 4:44 pm 360 Articles, Closing Bell Story, E&P, Earnings
Ultra Petroleum Appoints CFO, General Counsel – Reports Q3 Profits

Ultra Petroleum Appoints CFO, General Counsel – Reports Q3 Profits

Pad drilling program for Pinedale vertical wells is lowering costs Ultra Petroleum Corp. (ticker: UPL) has appointed two officers. David Honeyfield has been named CFO, and Andrew Kidd was named general counsel. David Honeyfield has more than 25 years of experience in the energy and natural resources fields with a strong background in accounting and the corporate management of public oil and gas companies,[Read More…]

November 8, 2018 - 3:27 pm 360 Articles, Closing Bell Story, E&P, Earnings
Anadarko Waiting Until Election to Announce 2019 Plans

Anadarko Waiting Until Election to Announce 2019 Plans

Achieves record oil production of 175 MBOPD Anadarko Petroleum (ticker: APC) announced third quarter results today, showing income of $363 million, or $0.72 per share. Anadarko achieved a record 175 MBOPD from its onshore U.S. activities, up 37% from last year after adjusting for divestitures. In total, the company produced 682 MBOEPD in Q3. The company spent a total of[Read More…]

Earnings Announcements Will Dispel Little Uncertainty for DJ Companies

Earnings Announcements Will Dispel Little Uncertainty for DJ Companies

Company earnings announcements are often one of the best opportunities to evaluate the health of a company, typically giving an overview of the state of a firm and its operations. Earnings announcements generally remove immediate uncertainty regarding company earnings, production and immediate plans. For DJ companies, on the other hand, actual company earnings are not the primary focus of investors[Read More…]

Schlumberger CEO Sees Temporary U.S. Frac Slowdown

Schlumberger CEO Sees Temporary U.S. Frac Slowdown

Schlumberger CEO Kibsgaard says several key customers said they will lay down all their frac fleets from middle November until middle January No slowdown in international Houston-based oilfield services giant Schlumberger (ticker: SLB) reported its Q3 results Friday and CEO Paul Kibsgaard made some interesting comments on the call about the company’s projections for frac activity in the U.S. seeing[Read More…]

BAM: It’s Earnings Season (Again) – Here are the Q3 2018 Oil & Gas Company Estimates

BAM: It’s Earnings Season (Again) – Here are the Q3 2018 Oil & Gas Company Estimates

Seems like just yesterday it was Q2 reporting season. But time accelerates quarterly in the public company universe. EnerCom, Inc. has compiled first quarter earnings per share, revenue, EBITDA and cash flow per share analyst consensus estimates on 111 E&P and 83 Oilfield Service companies in the EnerCom database. Download EnerCom’s full chart of estimates. The median OilServices company earnings[Read More…]

Flotek Industries Q2 Conference Call: Operators Are Asking for Expanded Chemistry Options

Flotek Industries Q2 Conference Call: Operators Are Asking for Expanded Chemistry Options

Flotek Industries Inc. (NYSE: FTK) reported Q2 results this week and executives discussed operations for the company’s oil and gas industry segment during the Q2 2018 earnings call. 2Q Financial Snapshot Revenue of $59.1 million for 2Q 2018 decreased 2.4% compared to 1Q 2018 and decreased 30.6% compared to 2Q 2017. Cash SG&A of $13.1 million for 2Q 2018 (excluding stock compensation expense of $2.4[Read More…]

Heard on The Call: Bonanza Creek Energy

Heard on The Call: Bonanza Creek Energy

Heard on The Call: Bonanza Creek Energy Bonanza Creek Energy is presenting at the EnerCom Conference on Wednesday, August 22nd in Denver. Bonanza Creek Energy Inc. reported Q2 results today and elaborated on its DJ Basin operations during the company’s Q2 2018 earnings call held August 9. Excerpts from the call are below. Second quarter sales volumes averaged 18.0 MBoe per[Read More…]

August 9, 2018 - 5:48 pm 360 Articles, Closing Bell Story, Company Earnings, E&P, Earnings
Courtesy of Extraction Oil & Gas, Inc.

Heard on The Call: Extraction Oil & Gas Inc.

Extraction Oil & Gas Inc. (NASDAQ: XOG) discusses Q2 2018 Earnings, Operation updates, and thoughts on Initiative 97. Excerpts from the earnings call are below: Q: Could you guys provide your thoughts on Initiative 97 in the news stream from this week? Extraction Chairman and CEO Mark A. Erickson: Firstly, I would like to just say some cautionary words with[Read More…]

August 9, 2018 - 5:22 pm 360 Articles, Closing Bell Story, E&P, Earnings
WildHorse Resource Development Reports Strong Q2 Margins As Eagle Ford Pure Play

WildHorse Resource Development Reports Strong Q2 Margins As Eagle Ford Pure Play

WildHorse is Presenting Tuesday, August 21st at the EnerCom Conference WildHorse Resource Development Corporation (NYSE: WRD) reported on operating and financial results for the three months ended June 30, 2018. Some of the operational highlights from its second quarter 2018 included an Increased average daily production by 107% to 46.7 MBOEPD compared to 22.6 MBOEPD for the second quarter 2017,[Read More…]

August 9, 2018 - 2:21 pm 360 Articles, Closing Bell Story, E&P, Earnings
Heard On The Call: Carrizo Oil & Gas Inc.

Heard On The Call: Carrizo Oil & Gas Inc.

Carrizo Oil & Gas Inc. (NASDAQ: CRZO) elaborates on current operations and Q2 earnings. The Excerpts from the Q2 Call are below. Q: Eagle Ford continues to look like you’re having really nice success there. Can you just talk about space in a little bit more there? I know you’ve been able to down space a bit with the Brown[Read More…]

August 7, 2018 - 6:41 pm 360 Articles, Closing Bell Story, Company Earnings, E&P, Earnings
Heard on The Call: Oasis Petroleum Inc.

Heard on The Call: Oasis Petroleum Inc.

Oasis Petroleum Inc. (NYSE:OAS) discusses earnings and operation updates on the 2018 Q2 earnings call. Excerpts and details from the call are below. Q: On the increase in the expected Delaware Q4 production rate, can you just talk more about the drivers there? How should we think about well performance versus the timing component, just thinking about the two wells[Read More…]

August 7, 2018 - 6:10 pm 360 Articles, Closing Bell Story, E&P, Earnings
Heard On The Call: Centennial Resource Development & Earthstone Energy Inc.

Heard On The Call: Centennial Resource Development & Earthstone Energy Inc.

Heard On The Call: Centennial Resource Development Centennial Resource Development (NASDAQ: CDEV) elaborates on pure play in the Delaware and Permian Basins. Excerpts from the Q2 Earnings call are below.  Q: Could give some more thoughts on the gas situation in Delaware, what’s your view about how things play out at a basin level when we bump into capacity and[Read More…]

August 7, 2018 - 5:40 pm 360 Articles, Closing Bell Story, E&P, Earnings
Heard On The Call: Gran Tierra Energy On New Well Performance

Heard On The Call: Gran Tierra Energy On New Well Performance

Gran Tierra Energy reported its Q2 earnings and held a conference call covering current well activity and production. Excerpts from the Q2 earnings call are below: Q : I’ll start with production. I’d like to drill you a bit more on production please. You increased your spending twice this year now, granted the – majority of that was for infrastructure,[Read More…]

August 6, 2018 - 6:29 pm 360 Articles, Closing Bell Story, E&P, Earnings
Heard On The Call: Eclipse Resources Details New Wells

Heard On The Call: Eclipse Resources Details New Wells

Eclipse Resources (NYSE: ECR) had its Q2 conference call last week. Excerpts from the Q&A are below. Q: I had a couple of questions on the Marcellus side, just seems like there’s a superior IRR case here now with some of the liquid strength, the wells are outperforming your initial expectations. How dominant could that program become, I guess, as[Read More…]

August 6, 2018 - 4:22 pm 360 Articles, Closing Bell Story, E&P, Earnings
Courtesy of RSP Permian

Heard on the Call: Devon Energy Q2

Devon Energy (NYSE: DVN) and reported Q2 earnings and talked about operations, acquisitions, and returning value to the shareholders. Q: On Showboat. You did obviously mention there were some I guess a bit stronger declines. Was that related to the parent well being obviously three years old in the area, or was it more the Lower Meramec? And if you[Read More…]

August 2, 2018 - 6:29 pm 360 Articles, Closing Bell Story, Earnings
Heard on the Call: Whiting Petroleum

Heard on the Call: Whiting Petroleum

Whiting Petroleum (NYSE: WLL) reported Q2 earnings and talked about operations, acquisitions, and returning value to the shareholders. Excerpts from the company’s Q2 call is included below. Q: Looking at that slide 7, it shows entire position there now including the bolt-on, your thoughts about moving rigs around. I see where you’ve got the rigs positioned there, could you talk[Read More…]

August 2, 2018 - 6:27 pm 360 Articles, Closing Bell Story, Earnings
Heard on the Call: Encana – Eagle Ford Margin Beats Permian

Heard on the Call: Encana – Eagle Ford Margin Beats Permian

Encana (NYSE: ECA) reported Q2 earnings and hosted its conference call, including comments about improved differentials of the Eagle Ford in comparison to the Permian. Excerpts from Encana’s Q2 earnings call are below: Q: You mentioned that at today’s strip, Encana is going to generate free cash flow during 2018. If we look at the share buyback that you have[Read More…]

Encana Doubles Cash from Operating Activities YOY

Encana Doubles Cash from Operating Activities YOY

Permian now producing 90 MBOEPD Encana (NYSE: ECA) reported its Q2 results and more than doubled its cash from operating activities YOY and is on track to grow annual production by more than 30%. The company expects to generate free cash flow in 2018 as result. Highlights Cash from operating activities of $475 million, up 120% YOY Non-GAAP cash flow[Read More…]

August 1, 2018 - 4:13 pm 360 Articles, Closing Bell Story, Earnings, TOGC23
Courtesy of Chesapeake

Chesapeake: PRB is the New Growth Engine

Chesapeake Energy Corporation (NYSE:CHK) reported financial and operational results for the 2018 second quarter. Highlights Net loss available to common stockholders of $40 million, or $(0.04) per diluted share Adjusted net income attributable to Chesapeake of $139 million, or $0.15 per diluted share Average production of approximately 530 MBOEPD up 8% YOY Average oil production of approximately 90 MBOEPD, up[Read More…]

August 1, 2018 - 4:04 pm 360 Articles, Closing Bell Story, E&P, Earnings, Popular 3
Anadarko Q2 DJ Production Averaged 261 MBOEPD

Anadarko Q2 DJ Production Averaged 261 MBOEPD

Delaware Basin jumps 88% to 62 MBOEPD Anadarko Petroleum Corporation (NYSE: APC) announced 2018 Q2 results, reporting net income of $29 million, or $0.05 per share (diluted). Net cash provided by operating activities in Q2 2018 was $1.23 billion. Highlights Increased U.S. onshore oil volumes by 47% YOY Improved per-barrel margins by nearly 50% YOY Expanded West Texas infrastructure with[Read More…]

August 1, 2018 - 3:43 pm 360 Articles, Closing Bell Story, Earnings
Cabot Oil & Gas Expands Share Repurchase Program

Cabot Oil & Gas Expands Share Repurchase Program

Cabot Oil & Gas (NYSE: COG) announced Q2 results, showing net income of $42.4 million, or $0.09 per share. Highlights Daily equivalent production of 1,895 MMcfe/d Adjusted net income of $57.9 million Net cash provided by operating activities of $273.9 million Discretionary cash flow of $196.5 million Returned $239.6 million of capital to shareholders through dividends and share repurchases Improved[Read More…]

July 30, 2018 - 4:23 pm 360 Articles, Canada, Closing Bell Story, E&P, Earnings, Finance