Second quarter earnings and cash flow for exploration and production (E&P) companies are forecast to be “at or above record levels, up 0-10% sequentially,” according to a report by CreditSights energy consultants. Earnings are expected to be driven by continued commodity price and refining margin strength.
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ConocoPhillips’ 4Q Shows Sequential Production Gains But Drop from 4Q02
ConocoPhillips expects to report fourth quarter oil and gas production of about 1.59 MMboe/d, up sequentially from the 1.56 MMboe/d reported in the third quarter, but down from a year earlier when the Houston-based major’s output was 1.62 MMboe/d.
January 12, 2004
ConocoPhillips’ 4Q Shows Sequential Production Gains But Drop from 4Q02
ConocoPhillips expects to report fourth quarter oil and gas production of about 1.59 MMboe/d, up sequentially from the 1.56 MMboe/d reported in the third quarter, but down from a year earlier when the Houston-based major’s output was 1.62 MMboe/d.
January 9, 2004
Majors’ 3Q Earnings Predicted to Fall 25% with 2% Decline in U.S. Gas Production
Earnings for the majors are expected to fall 25% in the third quarter, both year-over-year and sequentially, pushed by weaker oil and natural gas prices, a pull back in domestic refining margins from “super-normal levels,” weaker Asian downstream profits and continued pressure on chemicals, according to analysts with Deutsche Banc Alex. Brown. Analysts also see a 2% drop from a year ago in third quarter U.S. natural gas production for the majors overall.
October 22, 2001
Majors’ 3Q Earnings Predicted to Fall 25% with 2% Decline in U.S. Gas
Earnings for the majors are expected to fall 25% in the third quarter, both year-over-year and sequentially, pushed by weaker oil and natural gas prices, a pull-back in domestic refining margins from “super-normal levels,” weaker Asian downstream profits and continued pressure on chemicals, according to analysts with Deutsche Banc Alex. Brown. Analysts also see a 2% drop from a year ago in third quarter U.S. natural gas production for the majors overall.
October 22, 2001
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