Hedging gains and production growth resulted in strong quarterly earnings reports for two Houston-based independents, EOG Resources Inc. and Anadarko Petroleum Corp. During separate conference calls Tuesday, the CEOs acknowledged their oil and natural gas drilling prowess, but they also pointed to their companies’ sturdy finances in the uncertain credit market.
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Expanding Production, Profits in Shale Plays
Everyone, it seems, wants a piece of one of the shale plays that are spread across North America — majors, independents, privately owned producers, master limited partnerships (MLP) and even some of the neighborhoods that sit on top of them.
Shale, Shale, the Gang’s All Here
Everyone, it seems, wants a piece of one of the shale plays that are spread across North America — majors, independents, privately owned producers, master limited partnerships (MLP) and even some of the neighborhoods that sit on top of them.
Tulsa Oilman, Warburg Investor Ramp Up Laredo E&P
Tulsa oilman Randy Foutch, who created two Midcontinent-focused exploration and production (E&P) companies that were gobbled up by larger independents, has launched Laredo Petroleum with the backing of long-time financial partner Warburg Pincus.
Tulsa Oilman Ramps Up Another Midcontinent-Focused E&P
Tulsa oilman Randy Foutch, who created two Midcontinent-focused exploration and production (E&P) companies that were gobbled up by larger independents, has launched Laredo Petroleum with the backing of long-time financial partner Warburg Pincus.
North American Independents’ Gas Output Continues to Surge
More efficient development plans, speedier drilling completions and falling service costs helped some key North American independents build their natural gas reserves in 2Q2007 including EnCana Corp., XTO Energy Corp., Range Resources and Newfield Exploration Co., which all delivered impressive gas volume results last week.
Producers Finger Lower Prices, Higher Costs for Quarterly Losses
Lower natural gas and oil prices affected the profits of Marathon Oil Corp. in the first three months of 2007. However, for some of the larger independents, it wasn’t only lower prices — Anadarko Petroleum Corp. was hit by an unexpected international windfall profits tax, and at EOG Resources Inc., mark-to-market losses made a big dent in the bottom line.
Producers Finger Lower Prices, Higher Costs for Quarterly Losses
Lower natural gas and oil prices affected the profits of Marathon Oil Corp. in the first three months of 2007. However, for some of the larger independents, it wasn’t only lower prices — Anadarko Petroleum Corp. was hit by an unexpected international windfall profits tax, and at EOG Resources Inc., mark-to-market losses made a big dent in the bottom line.
North American Independents’ Gas Output Up, Profits Down
Several of North America’s leading independents last week reported strong natural gas production in 3Q2006, but higher-than-expected operating expenses and lower gas prices pummeled quarterly profit. Gas-weighted Devon Energy Corp., EOG Resources Inc., Pioneer Natural Resources Corp. and Ultra Petroleum Corp. all reported quarterly gas production increases, but all of them also posted earnings declines. Marathon Oil Corp., meanwhile, posted a surge in profit, but its gas volumes fell.
Devon, Pioneer, Ultra Report Higher Gas Output, Lower Profit
North America’s independents Wednesday reported strong natural gas production in 3Q2006, but higher-than-expected operating expenses and lower gas prices pummeled quarterly profit. Gas-weighted Devon Energy Corp., Pioneer Natural Resources Corp. and Ultra Petroleum Corp. all reported increases in their gas output, but all of them also posted earnings declines.