Profit

Shell Kicks Off Big Oil Earnings with Profits Jumping 30%, Stronger Natural Gas Sales

Royal Dutch Shell plc nearly tripled net profits in the second quarter from a year ago in what may be a harbinger of things to come.

July 26, 2018

Shell Profits Soar 140% as Efficiencies Trump Commodity Prices

With a plethora of natural gas and oil prospects lined up for development through the 2020s, Royal Dutch Shell plc is keeping a relentless focus on improving efficiencies to stay above the fray if commodity prices were to sink again, CEO Ben van Beurden said Thursday.

February 1, 2018
Shell Profits Slump 93%; Lake Charles LNG Project Shelved

Shell Profits Slump 93%; Lake Charles LNG Project Shelved

Royal Dutch Shell plc’s second quarter profits plunged from a year ago to their lowest level in 11 years, slammed by lower commodity prices, weak refining margins and stumbling production. And the outlook for liquefied natural gas (LNG), considered a primary motivation to merge with BG Group plc, is so poor that the Lake Charles, LA export project has been tabled — the second North American project canned this month.

July 28, 2016

ExxonMobil Sharply Reduces Capex, Suspends Share Buybacks as Profits Fall by More Than Half

With the smallest annual profits in 13 years, ExxonMobil Corp. is reducing its capital spending by 25% to a 10-year low and suspending its share buybacks as a shield in the declining oil and natural gas trade, the largest U.S. operator said Tuesday.

February 2, 2016

BP Slammed on Oil Price Plunge But Still Beats Consensus

BP plc on Tuesday posted a 19% decline in third quarter profits from a year ago, in part impacted by the global oversupply in crude oil, and in part on a huge drop in profits from its near-20% stake in Russia’s OAO Rosneft, but the producer still beat Wall Street consensus by a wide margin.

October 28, 2014

BP Profits Climb, But Russia Poses Risks

BP plc on Tuesday reported a 65% increase year/year in profits in 2Q2014 on clear signs of recovery in the Gulf of Mexico (GOM). However, Group CEO Bob Dudley warned that Russian investments are growing more risky on escalating economic sanctions.

July 29, 2014

Permian, Anadarko Drive Apache to Profit, Production Gains

Apache Corp., which has been streamlining its North American operations to concentrate on building output from the Permian and Anadarko basins, reported a huge jump in production, and profits, during the second quarter.

August 5, 2013

Chesapeake: NatGas Output Falling, Oil Edging Up

Chesapeake Energy Corp., which has been on a tumultuous trip both financially and management-wise over the past year, recorded a profit in 4Q2012, albeit lower than a year ago, but price-related revisions — nearly all related to onshore natural gas assets in the Barnett and Haynesville shales — led to losses for the year.

February 25, 2013

Chesapeake Writes Down $2B on Natural Gas Revisions

Chesapeake Energy Corp., which has been on a tumultuous trip both financially and management-wise over the past year, recorded a profit in 4Q2012, albeit lower than a year ago, but price-related revisions — nearly all related to onshore natural gas assets in the Barnett and Haynesville shales — led to losses for the year.

February 22, 2013

Onshore Market Challenged Through 2013, Says Halliburton

A continued overcapacity in land pressure pumping services, as well as no relief in natural gas pricing, will impact Halliburton Co.’s North American business again this year, CEO Dave Lesar said Friday.

January 28, 2013
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