Corporate performance announcements Archives - Page 4 of 48

Eni smashes earnings estimates with record gas performance

February 16, 2024

Oil Price Eni’s (NYSE: E) fourth-quarter and 2023 earnings exceeded consensus estimates as “record-breaking” performance in the gas and LNG division offset weaker oil and gas prices and refining margins. The Italian energy major reported on Friday adjusted net profit of $1.76 billion (1.64 billion euros) for the fourth quarter, down by 34% on the year, but slightly higher than analyst expectations.

Oxy beats expectations with robust Q4 results

February 15, 2024

Oil Price Occidental Petroleum reported its strongest quarterly financial results in three years for the final three months of 2023, beating analyst expectations. Net income attributable to shareholders came in at $1 billion for the period, which translated into $1.08 per diluted share. Adjusted earnings attributable to common shareholders came in at $710 million, or $0.74 per share. “Our teams performed exceptionally

Comstock Resources, Inc. reports fourth quarter 2023 financial and operating results

February 14, 2024

Oil and Gas 360 FRISCO, TX, Feb. 13, 2024 (GLOBE NEWSWIRE) — Comstock Resources, Inc. (“Comstock” or the “Company”) (NYSE: CRK) today reported financial and operating results for the quarter and year ended December 31, 2023. Highlights of 2023‘s Fourth Quarter Continued weak natural gas prices weighed heavily on the fourth quarter results. Natural gas and oil sales, including realized hedging gains, were $354 million. Adjusted EBITDAX for

Enbridge misses fourth-quarter profit estimates on lower Mainline tolls

February 9, 2024

Nasdaq Pipeline operator Enbridge ENB.TO missed fourth-quarter profit estimates on Friday, hurt by lower tolls related to its Mainline crude pipeline system and a decrease in earnings from the company’s gas segment. Enbridge reached a toll agreement for Mainline with oil shippers last year, which was lower than the previous one, after scrapping earlier plans for long-term contracts. Quarterly adjusted core

ConocoPhillips beats profit forecast as production hits record high

February 8, 2024

Oil Price ConocoPhillips (NYSE: COP) reported on Thursday consensus-beating earnings for the fourth quarter of 2023, driven by record oil and gas production. The U.S. oil and gas company booked fourth-quarter 2023 adjusted earnings of $2.9 billion, or $2.40 per share. This, although lower than in Q4 2022, easily beat the analyst consensus estimate of $2.09 per share. Full-year 2023 adjusted earnings were $10.6

Duke Energy misses Q4 profit estimates on higher interest costs, raises capex

February 8, 2024

Yahoo Finance Utility firm Duke Energy missed fourth-quarter profit estimates on Thursday on higher interest expenses and raised its five-year capex by $8 billion to support its transition to renewable energy. The U.S. Federal Reserve’s interest-rate hikes to tame inflation have made borrowing more expensive for businesses, impacting utility firms like Duke. The company’s quarterly interest expense for its Electric

Range announces fourth quarter production and pricing

February 7, 2024

Oil and Gas 360 FORT WORTH, Texas, Feb. 06, 2024 (GLOBE NEWSWIRE) — RANGE RESOURCES CORPORATION (NYSE: RRC) today announced fourth quarter 2023 expectations for production and pricing with fourth quarter production averaging approximately 2,207 Mmcfe per day. In addition, Range realized $8.0 million in contingent derivative settlement gains in fourth quarter 2023. Production and Pricing Fourth quarter 2023 daily natural gas production averaged approximately 1,540 Mmcf

PEDEVCO announces approval of D-J Basin development plan for Roth 2-11 wells and operations update

February 6, 2024

Oil and Gas 360 HOUSTON, TX / ACCESSWIRE / February 5, 2024 / PEDEVCO Corp. (NYSE American:PED) (“PEDEVCO” or the “Company”), an energy company engaged in the acquisition and development of strategic, high growth energy projects in the U.S., today announced that it received approval on January 31, 2024 from the Colorado Energy and Carbon Management Commission (ECMC) of the Company’s Roth

BP boosts share buybacks as earnings exceed estimates

February 6, 2024

Oil Price BP (NYSE: BP) is accelerating share buybacks as it looks to return more cash to shareholders after posting Q4 and full-year 2023 earnings above expectations. BP reported on Tuesday an underlying replacement cost profit – the closest metric to net profit –of $3.0 billion for the fourth quarter, compared with $3.3 billion for the previous quarter. The earnings beat analyst

Exxon beats profit forecasts with strong Q4 earnings

February 2, 2024

Oil Price ExxonMobil (NYSE: XOM) posted higher-than-expected earnings for the fourth quarter, while its full-year profit was the second-highest in a decade, as the U.S. supermajor boosted its Guyana and Permian production and achieved record annual refinery throughput. Exxon reported on Friday fourth-quarter 2023 earnings of $7.6 billion, or $1.91 per share assuming dilution. As previously flagged, the U.S. supermajor’s Q4 earnings were

SM Energy reports production beat on lower capital costs and schedules year-end 2023 earnings release and call

February 1, 2024

Oil and Gas 360 DENVER, Feb. 1, 2024 /PRNewswire/ — SM Energy Company (the “Company”) (NYSE: SM) today announced certain estimated 2023 results, including production, pricing, capital expenditures, return of capital and certain financial metrics. Highlights include: Production exceeded expectations. Production for the full year 2023 was 55.5 MMBoe or 152.0 MBoe/d, up 5% from 2022. Fourth quarter production was 14.1 MMBoe, or

Hess reports estimated results for the fourth quarter of 2023

January 31, 2024

Oil and Gas 360 Key Development: Commenced production from the Payara development at the Stabroek Block, offshore Guyana, in November; Payara reached its initial production capacity of approximately 220,000 gross barrels of oil per day (bopd) in January 2024 Fourth Quarter Financial and Operational Highlights: Net income was $413 million, or $1.34 per share, compared with $497 million, or $1.61

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