ExxonMobil is to be replaced on the Dow Jones Industrial Average effective Monday (Aug. 31) in a shakeup prompted by Apple Inc.’s decision to split its stock. The price-weighted, 30-stock, blue chip index said Salesforce.com would replace the Irving, TX-based supermajor. ExxonMobil has traded on the Dow since 1928. As recently as 2011, ExxonMobil was…
2Q20 Earnings Coverage
Articles from 2Q20 Earnings Coverage
Southwest Gas Shrugs Off Covid-19 and Grows, Despite Economic, Energy Downturn
Las Vegas-based Southwest Gas Corp. (SWGas) continues to see its business units expand and expects that trend to continue, CEO John Hester said earlier this month. Covid-19 “is our No. 1 concern,” Hester said during the second quarter conference call. “We’re closely monitoring the impact on SWGas operations.” Demand to date is strong for services…
August 24, 2020
U.S. Midstream Results in 2Q Showed Volume Resiliency, Commitment to Capex Curbs
U.S. midstream management teams doubled down on cost cuts and reduced capital expenditures (capex) during second quarter earnings season. However, many also struck generally optimistic tones about improving volumes and a gradual recovery from the energy slump imposed by the coronavirus pandemic. Overall, “the messaging was really good, particularly around considerably less capex going forward,…
August 20, 2020
Colorado Governor’s Opposition to Ballot Initiatives Unleashes DJ’s Full Potential, Says DCP CEO
DCP Midstream LP’s chief executive lauded Colorado Gov. Jared Polis’ ability to forge agreement among the energy industry and environmental groups, saying it “ensured political and regulatory certainty” in the state “for years to come.” CEO Wouter van Kempen of Denver-based DCP referred to a recent report from the governor in which he noted that…
August 12, 2020
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