Company Earnings

EOG Resources beats profit estimate as crude prices rebound

EOG Resources beats profit estimate as crude prices rebound

Reuters


US oil and gas producer EOG Resources Inc (EOG.N) surpassed analysts’ first-quarter profit forecast and announced a special dividend of $ 1 per share on Thursday due to the launch of COVID-19 vaccines and increased travel demand driving crude …

Range announces first quarter 2021 financial results

Range announces first quarter 2021 financial results

Oil and Gas 360


Editor’s Note:  Range Resources gave the keynote lunch address at EnerCom Dallas –  The Energy Investment & ESG Conference earlier this month. Dennis Degner, Sr. Vice President, Chief Operating Officer for Range discussed the company’s ESG

Source: Reuters

TC Energy profit rises 13% on higher earnings from U.S. gas pipelines

Reuters


TC Energy Corp reported a 13.4% rise in fourth-quarter comparable profit on Thursday, partly helped by lower operating costs for its U.S. natural gas pipelines.

The company behind the Keystone XL oil pipeline, work on which was halted after …

Noble Midstream Partners Reports Fourth-Quarter and Full-Year 2020 Results

Noble Midstream Partners Reports Fourth-Quarter and Full-Year 2020 Results

More than $185 million in Free Cash Flow 1 Expected in 2021 Noble…

February 12, 2021 - 12:00 pm Company Earnings, Energy News, Midstream, Press Releases
Source: Reuters

Schlumberger echoes rivals’ oil recovery predictions after results beat

Reuters


Schlumberger NV on Friday joined rivals in predicting a steady recovery in the oil industry this year after the world’s top oilfield services provider’s fourth-quarter results beat estimates, aided partly by growing demand for drilling.

Easing of COVID-19 related …

Source: Reuters

Baker Hughes says energy downturn to bottom out this year

Reuters


Oilfield equipment and services provider Baker Hughes Co on Thursday joined larger rival Halliburton Co in saying the energy industry’s worst downturn in decades would turn a corner this year.

Oil and gas producers have been forced to cut …

Source: Reuters

Rosneft swings to third-quarter net loss, buyback extension supports shares

Reuters


MOSCOW – Fallout from the pandemic and a weaker rouble sent Russian energy giant Rosneft ROSN.MM to a third-quarter net loss of 64 billion roubles ($827 million) from net income of 43 billion roubles in the previous quarter, the …

November 13, 2020 - 12:00 pm Closing Bell Story‎, Company Earnings, Energy News
Source: Reuters

Cheniere earnings miss estimates, sees Texas Corpus 3 complete in first-quarter 2021

Reuters


Cheniere Energy Inc LNG.A reported earnings on Friday that missed analysts estimates and said it expects to complete the third train at its Corpus Christi liquefied natural gas (LNG) export plant in Texas in the first quarter of 2021.…

Montage Resources Corporation Divesting Wellhead Gathering Infrastructure for $25 Million, Announces Preliminary Second Quarter 2020 Production Performance, Lowers Full Year 2020 Capital Spending Guidance

Montage Resources Corporation Divesting Wellhead Gathering Infrastructure for $25 Million, Announces Preliminary Second Quarter 2020 Production Performance, Lowers Full Year 2020 Capital Spending Guidance

Schedules Second Quarter 2020 Earnings Release Date and Conference Call Montage Resour…

Callon Petroleum Company Announces First Quarter 2020 Results

Callon Petroleum Company Announces First Quarter 2020 Results

HOUSTONMay 11, 2020 /PRNewswire/ — Callon Petroleum Company (NYSE: CPE) (“Callon” or the “Company”) today reported results of operations for the three months ended March 31, 2020.

Presentation slides accompanying this earnings release are available on the Company’s …

Power Solutions International Announces Fourth Quarter and Full Year 2019 Financial Results and the Filing of its Form 10-K

Power Solutions International Announces Fourth Quarter and Full Year 2019 Financial Results and the Filing of its Form 10-K

May 4, 2020 - 5:00 pm Company Earnings, Press Releases
Source: CNBC

BP’s net profit slides 67% in the first quarter following a historic fall in oil prices

CNBC


Energy giant BP reported a significant fall in first-quarter net profit on Tuesday, as oil prices continue to dive amid intensifying concerns about the coronavirus crisis and dwindling storage capacity.

The U.K.-based oil and gas company posted first-quarter underlying

NRG Energy, Inc. Changes to Virtual Meeting Format for 2020 Annual Meeting of Stockholders

NRG Energy, Inc. Changes to Virtual Meeting Format for 2020 Annual Meeting of Stockholders

Chevron Outlines Plan to Deliver Leading Shareholder Returns

Chevron Outlines Plan to Deliver Leading Shareholder Returns

At its annual Security Analyst Meeting today, Chevron Corporation (NYSE: CVX) announced expectations to deliver leading shareholder returns through disciplined capital spending, improved cost efficiency, and continued cash flow growth over the next five years.

Superior Drilling Products, Inc. Achieves 2019 Preliminary Revenue of $19 Million Driven by Growth in Middle East

Superior Drilling Products, Inc. Achieves 2019 Preliminary Revenue of $19 Million Driven by Growth in Middle East

Superior Drilling Products, Inc. (NYSE American: SDPI) (“SDP” or the “Company”), a designer and manufacturer of drilling tool technologies, today announced unaudited preliminary revenue for the year ended December 31, 2019, was $19.0 million, up 4% from the prior year. …

Source: Houston Chronicle

Halliburton to pay down debt by issuing $1 billion of lower-interest notes

Houston Chronicle


Houston oilfield service company Halliburton plans to pay down its long-term debt by issuing $1 billion in lower-interest notes.

Halliburton on Wednesday said it plans to issue a type of debt known as senior notes. Due in March …

Shell Midstream Partners, L.P. 4th Quarter 2019 Unaudited Results

Shell Midstream Partners, L.P. 4th Quarter 2019 Unaudited Results

Shell Midstream Partners, L.P. (NYSE: SHLX) reported net income attributable to the Partnership of $140 million for the fourth quarter of 2019, which equated to $0.37 per common limited partner unit. Shell Midstream Partners also generated adjusted earnings before interest, …

Hi-Crush Inc. Reports Fourth Quarter and Full Year 2019 Results

Hi-Crush Inc. Reports Fourth Quarter and Full Year 2019 Results

HOUSTON, Feb. 19, 2020 (GLOBE NEWSWIRE) — Hi-Crush Inc. (NYSE: HCR) (the “Company”), a fully-integrated provider of proppant logistics solutions, today reported fourth quarter and full year 2019 results. Revenues during the fourth quarter of 2019 totaled $125.5 million compared …

Cimarex Reports Fourth Quarter and Full Year 2019 Results

Cimarex Reports Fourth Quarter and Full Year 2019 Results

DENVERFeb. 19, 2020 /PRNewswire/ —

  • Fourth quarter oil production averaged 92.0 MBbls per day
    • Full year oil production averaged 86.2 MBbls per day
  • 2019 capital investment (including midstream) totaled $1.32 billion; below guidance range
    • Lower D&C costs
Enbridge Inc. is a leading North American energy infrastructure company. We safely and reliably deliver the energy people need and want to fuel quality of life. Our core businesses include Liquids Pipelines, which transports approximately 25 percent of the crude oil produced in North America;

Enbridge Files 2019 Year End Disclosure Documents

Enbridge Files 2019 Year End Disclosure Documents

Source: Houston Chronicle

Marathon Oil cuts drilling budget amid 56 percent drop in profit

Houston Chronicle


Houston exploration and production company Marathon Oil has cut its drilling budget by about 10 percent amid an ongoing shale slump that caused revenue and profits to decline in 2019.

In a Wednesday afternoon statement, Marathon said the …

Precision Drilling Corporation Announces 2019 Fourth Quarter and Year End Unaudited Financial Results

Precision Drilling Corporation Announces 2019 Fourth Quarter and Year End Unaudited Financial Results

Precision Drilling Corporation Announces 2019 Fourth Quarter and Year End Unaudited Financial Results

Source: Houston Chronicle

NOV finishes year of losses $6.1 billion in the red

Houston Chronicle


Houston oilfield service company National Oilwell Varco finished up a year of losses $6.1 billion in the red.

In a statement released on Thursday evening, the company reported closing 2019 with a $6.1 billion loss, a dramatic drop …

Total beats quarterly forecasts despite low oil price, raises payout

Total beats quarterly forecasts despite low oil price, raises payout

Reuters


ABERDEEN, Scotland – Total (TOTF.PA) beat forecasts on Thursday by keeping net adjusted fourth-quarter profit steady at $3.2 billion despite low oil prices and fulfilled a pledge to boost dividends, lifting the French energy firm’s shares.

The …

Source: Houston Chronicle

Black Stone Minerals cuts investor payouts by almost 20%

Houston Chronicle


Black Stone Minerals said it will cut its quarterly payouts to investors by almost 20 percent because of falling oil and gas prices.

In another sign of the weakening energy sector, the Houston oil and gas royalties firm …

Source: Reuters

BP full-year net profit falls 21% on weak oil and gas prices

CNBC


Energy giant BP reported better-than-expected full-year net profit on Tuesday, outperforming analyst expectations despite lower oil and gas prices.

The U.K.-based oil and gas company posted full-year underlying replacement cost profit, used as a proxy for net profit, of …

Source: Houston Chronicle

ConocoPhillips’ fourth-quarter profit plunges by 60%

Houston Chronicle


ConocoPhillips’ fourth-quarter profit declined by more than 60 percent, to $720 million from $1.9 billion in the same period last year, amid weaker oil prices and production outputs.

Revenue during the quarter dropped by more than 20 percent …

Source: Houston Chronicle

Phillips 66 profit cut by more than half in 4th quarter

Houston Chronicle


Houston refining and pipeline company Phillips 66 on Friday reported a $689 million fourth-quarter profit, 51 percent less than the same period in 2018.

The fourth quarter performance resulted in Phillips 66 closing 2019 with a nearly $3.7 …

Source: CNBC

Chevron posts $6.6 billion loss in the fourth quarter

CNBC


Chevron on Friday posted a $6.6 billion loss in the fourth quarter due to $10.4 billion worth of write-offs related to shale gas production in Appalachia and deep-water projects in the Gulf of Mexico. In December, the company warned

Source: Houston Chronicle

Exxon Mobil’s profit tumbled 30% in 2019, 5% in final quarter

Houston Chronicle


Exxon Mobil’s fourth-quarter profit declined by 5 percent, capping a year in which earnings plunged by more than 30 percent.

The company’s $5.7 billion profit in the fourth quarter lagged the previous year on weaker sales and pricing …