Earnings

Schlumberger Streamlining, Building Digital Oil, Gas Prowess, but Lingering Covid-19 Poses ‘Significant Risk’

Schlumberger Streamlining, Building Digital Oil, Gas Prowess, but Lingering Covid-19 Poses ‘Significant Risk’

Schlumberger Ltd., the No. 1 oilfield services operator, kicked off third quarter earnings season Friday, working to demonstrate its wherewithal to retrench and streamline, but CEO Olivier Le Peuch also pulled no punches in warning that the coronavirus remains a threat to the energy industry. During a wide ranging conference call from Houston, the CEO…

October 16, 2020
‘Quiet’ Quarterly Earnings Season Predicted for E&Ps, OFS but Covid Questions Loom

‘Quiet’ Quarterly Earnings Season Predicted for E&Ps, OFS but Covid Questions Loom

Natural gas and oil operators are likely to report a return to normalcy — but not growth — when they unveil their third quarter results in the coming weeks, but the demand forecasts may be hazy amid a historic hurricane season and the expanded wave of damaging Covid-19 infections.  Schlumberger Ltd., the world’s largest oilfield…

October 15, 2020
ExxonMobil Kicked from Blue Chip Index as Tech Gains Ground

ExxonMobil Kicked from Blue Chip Index as Tech Gains Ground

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…

August 25, 2020
Southwest Gas Shrugs Off Covid-19 and Grows, Despite Economic, Energy Downturn

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 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

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
Oxy Looks to Build Cash Flow, with Low Growth Following $8.4B Loss

Oxy Looks to Build Cash Flow, with Low Growth Following $8.4B Loss

Houston-based Occidental Petroleum Corp. is throttling back from growth to ensure it can build cash flow to pay down some big debt maturities due in 2021, CEO Vicki Hollub said Tuesday. The company, better known as Oxy, has set spending priorities on maintenance, debt reduction and eventually a sustainable dividend before expanding, Hollub said during…

August 11, 2020
Bonanza Creek, Highpoint Lift DJ Basin Volumes, Rein in Capex Amid Price Pressures

Bonanza Creek, Highpoint Lift DJ Basin Volumes, Rein in Capex Amid Price Pressures

A pair of prominent oil and gas companies active in the Denver-Julesburg Basin (DJ) are keeping capital expenditures (capex) in check while posting modest upticks in sales volumes. Bonanza Creek Energy Inc. and Highpoint Resources Corp., both based in Denver, reported substantial second-quarter losses, however, dinged by lower sales prices in the wake of the…

August 11, 2020
Talos Maintains Bright Outlook For Private Sector E&P in Mexico Despite Tension

Talos Maintains Bright Outlook For Private Sector E&P in Mexico Despite Tension

Despite tension between Mexico’s government and non-state energy firms, Houston-based Talos Energy Inc. maintains a bright outlook for private sector exploration and production (E&P) in the country, management said last week. President Andrés Manuel López Obrador has upheld his pledge to honor the more than 100 E&P contracts awarded following the 2013-2014 market-opening energy reform,…

August 10, 2020
Marathon Oil Slashes Costs, But Says it is Gathering Production Momentum

Marathon Oil Slashes Costs, But Says it is Gathering Production Momentum

Marathon Oil Corp. said stabilization in commodity prices enabled the company to raise its full-year oil production outlook even as it keeps costs in check and further lowers its capital expenditure (capex) plans. Houston-based Marathon — which works in Oklahoma, the Delaware Basin and the Bakken and Eagle Ford shales — raised slightly its 2020…

August 10, 2020
‹ Previous 1 2 3 16