Earnings

Following a second quarter of across-the-board sequential improvement for the company’s financial metrics, including a 12% increase in revenue for its North America segment, management for Halliburton Co. sees itself at the start of a “multi-year upcycle.” Reported quarterly losses in 2020 were steep, but after getting back into the black financially in the first…

South Texas proved to be a sore spot for Kinder Morgan Inc. (KMI), as the company’s 2Q2021 earnings took a hit during an otherwise strong period in which the midstream giant made two substantial purchases. Houston-based KMI recorded a $1.6 billion, non-cash impairment related to anticipated lower volumes and rates on contract renewals on its…

Look for North America’s oil and natural gas producers to keep the capital discipline message going when second quarter results roll out, with oilfield services (OFS) operators alerting customers that equipment and supply prices are going to increase. Three of the world’s top OFS companies kick off quarterly results in the coming days, with the…

After cutting its dividend at the height of the pandemic last year, Royal Dutch Shell plc plans to give back to shareholders, with distributions set to rise on an improving commodity price outlook. The Anglo-Dutch supermajor previewed its 2Q2021 results on Wednesday, ahead of reporting on July 29. Shareholders had endured a dividend cut in…

Dallas-based EnLink Midstream LLC has increased its earnings guidance for 2021 amid strengthening natural gas and oil prices, with an eye on expanding operations and lowering carbon emissions. “We are pursuing exciting growth opportunities in the Permian and Louisiana, as well as experiencing improved activity in Oklahoma and North Texas,” CEO Barry E. Davis said.…

NGL Energy Partners LP, which transports oil and also treats, recycles and disposes of water generated as part of the energy production process – said it got off to a slow start in calendar 2021 because of Winter Storm Uri and lingering effects of the pandemic. But the Tulsa-based company sees brighter days ahead with…

A trio of international liquefied natural gas (LNG) shippers saw improved financials in the first quarter as demand grew and prices strengthened. Flex LNG Ltd., Teekay LNG Partners LP and Golar LNG Ltd. reported stronger demand for time charters as spot prices in Asia shot up in January and the cooldown in February was short-lived,…

Houston-based Marathon Oil Corp. will stick to its $1 billion capital expenditures (capex) budget in 2021 even if oil prices keep rising, according to management.  Assuming a $60/bbl West Texas Intermediate (WTI) oil price, the independent expects to generate $1.6 billion of free cash flow (FCF) this year, CEO Lee Tillman said during a call…

Crescent Point Energy Corp. regained profitability and emerged as an unconventional natural gas producer during the first three months of this year. The Calgary producer predicted steady improvement for the rest of 2021 would result from the C$900 million ( $720 million) purchase in February of 500 square miles of liquids-rich Duvernay formation acreage from…