News Topics: Earnings Reports

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Aker Posts Lower Profits, Cuts Workforce Salary
Friday, February 12, 2016 Aker Solutions becomes the latest oil and gas services company to announce a fresh round of cuts amid the lower oil price.

KS Energy Issues Profit Warning for 2015 as Industry Downturn Bites
Thursday, February 11, 2016 Singapore's oil and gas services provider KS Energy issues profit warning for 2015, with its performance hurt by the industry downturn.

Rig Contractor Precision Drilling Suspends Dividend
Thursday, February 11, 2016 Precision Drilling Corp suspends its dividend payments as the company looks to boost its finances to cope with a 70% fall in oil prices.

Cenovus Energy Reports Bigger Loss, Cuts Dividend
Thursday, February 11, 2016 Cenovus Energy Inc reports a bigger quarterly loss and also cuts its dividend and 2016 capital spending budget amid a prolonged slump in oil prices.

DNO, Total Report Record Output amid 4Q Losses
Thursday, February 11, 2016 European energy firms DNO ASA and Total record report production outputs in 2015 amid fourth quarter losses.

Voestalpine Reports Lower Than Expected 3Q EBIT
Wednesday, February 10, 2016 Voestalpine reports a higher than expected fall in its 3Q operating profit due to the effects of the sharp price falls and overcapacity in the oil and gas sector.

Diamond Offshore Profit Beats On Lower Costs; Div Scrapped
Monday, February 08, 2016 Diamond Offshore Drilling wings into a quarterly loss at it writes down the value of nine drilling units by nearly half-a-billion dollars.

Portugal's Galp Quarterly Net Profit Up 9%
Monday, February 08, 2016 Portuguese oil and gas firm Galp Energia posts a greater-than-expected 4Q profit of $166 million.

Hess Falls 11% on Stock Sales to Raise $1.43 Billion
Friday, February 05, 2016 Hess Corp, the New York-based oil and gas producer, says it will raise $1.43 billion from sales of stock and deposit shares after reporting its first annual loss since 2002.

BG Group's Earnings Drop
Friday, February 05, 2016 BG Group's upstream business posts earnings of $4.1 billion at the EBITDA level in 2015, marking a 35 percent decrease from 2014.

MEG Energy's Quarterly Loss Widens
Thursday, February 04, 2016 Canadian oil sands producer MEG Energy Corp posts a bigger quarterly loss, hurt by lower oil prices and strong US dollar.

ConocoPhillips Cuts Dividend, Lowers Budget as Low Crude Weighs
Thursday, February 04, 2016 ConocoPhillips lowers its capital budget for 2016 as the fall on crude oil prices takes its tool on the US's largest independent oil and gas company.

Shell Posts Worst Performance on Oil Reserves Since 2004 Scandal
Thursday, February 04, 2016 Royal Dutch Shell says it depleted its oil and gas reserves faster than it replenished them in 2015, its poorest showing in 12 years.

Occidental Suffers Biggest Loss in 25 Years on Oil's Slump
Thursday, February 04, 2016 Occidental Petroleum posts its deepest quarterly loss in at least 25 years as plummeting crude prices destroy oil field value.

Marathon Petroleum's Profit Beats amid Crude Price Slump
Wednesday, February 03, 2016 Marathon Petroleum Corp reports a 77-percent fall in quarterly profit.

Lundin Doubles Year-End Losses in 2015
Wednesday, February 03, 2016 Lundin posts a loss of $866.3 million in 2015, which was more than double the $431.9 million loss registered by the company in 2014.

Anadarko Says It May Cut Dividend Due to High Yield
Tuesday, February 02, 2016 Oil producer Anadarko Petroleum Corp may cut its dividend because its falling share price amid the oil price plunge has pushed the yield too high.

Exxon's Profit Tumbles 58 Percent, Slashes Capex by One-Quarter
Tuesday, February 02, 2016 Exxon Mobil Corp reports its smallest quarterly profit in more than a decade, saying it will cut 2016 spending by one-quarter and suspend share repurchases as it copes with a prolonged downturn in crude prices.

Ecopetrol Dividend Policy Seeks to Prevent Slide Into Junk
Tuesday, February 02, 2016 Colombia’s state-controlled Ecopetrol SA will pursue a dividend policy this year designed to safeguard the company’s investment grade rating amid the slump in oil prices.

Imperial Oil Profit Misses Estimate as Plunging Crude Weighs
Tuesday, February 02, 2016 Canada's Imperial Oil reports a lower-than-expected quarterly profit, hurt by a prolonged slump in crude oil prices.

BP to Cut 7,000 Jobs in 2016/2017 after Worst Results for Two Decades
Tuesday, February 02, 2016 BP's final results for 2015 revealed its worst performance for more than two decades and that it will lose 7,000 members from its workforce in 2016 and 2017.

Anadarko Posts Record Loss in Industry's Worst Year Since 1986
Monday, February 01, 2016 Anadarko Petroleum Corp. posts its worst annual loss on record, underscoring the bleakest times for the oil industry since the producer spun off from Panhandle Eastern Pipe Line Co. during the 1986 price crash.

Repsol Takes 2.9 Bln Euro Hit on Weak Oil Price
Wednesday, January 27, 2016 Spain's Repsol announced on Wednesday a 2.9 billion euro ($3.2 billion) writedown on its 2015 results due to weak oil and gas prices, pushing it into a loss for the year.

Oil Producer Hess' Loss Widens on $1.36B of Impairment Charges
Wednesday, January 27, 2016 Hess Corporation reports a bigger quarterly loss due to $1.36 billion of impairment charges amid the prolonged crude price slump.

Halliburton Says No Deal Yet With Regulators On Size Of Asset Sales
Monday, January 25, 2016 Halliburton, which is awaiting regulatory approval for its acquisition of Baker Hughes, said it was yet to reach an agreement with US and European regulators.

Keppel O&M Posts 4Q 2015 Net Loss of $42.5M, Updates on Brazil Contracts
Friday, January 22, 2016 Keppel Offshore & Marine posts a net loss of $42.5 million for fourth quarter 2015, down from a net profit of $200.1 million in the previous year.

Santos Sees Writedowns as Sales Slump 24% Amid Oil Collapse
Friday, January 22, 2016 Santos reports a 24 percent drop in fourth-quarter sales and flagged asset writedowns after a further decline in oil prices since its November announcement of a $2.5 billion program to cut debt.

Woodside's 4Q 2015 Output Up 6.4%, Revenue Falls 37.3% on Lower Oil Prices
Thursday, January 21, 2016 Australia's Woodside records a 6.4 percent rise in production in fourth quarter 2015 to 24.9 million barrels of oil equivalent, however revenue falls 37.3 percent to $1.105 billion due to lower oil prices.

Schlumberger Plans $10B Share Buyback As Profit Beats
Thursday, January 21, 2016 Schlumberger unveils a $10 billion share buyback program and reports a slightly better-than-expected quarterly profit as it cut costs to weather a prolonged slump in oil prices.

Oil Producer Genel Forecasts Lower 2016 Revenue
Wednesday, January 20, 2016 Iraqi Kurdistan oil producer Genel Energy forecasts lower revenue for 2016 compared to 2015.

CEO: Total Takes Oil Price Hit But Will Not Cut Jobs
Tuesday, January 19, 2016 Total expects to report a drop in its 2015 results but it does not plan to cut jobs, according to the firm's chief executive.

Ezra Records Net Loss of $53.7M in 1Q FY16 as Industry Downturn Lingers
Thursday, January 14, 2016 Singapore's Ezra registers a net loss of $53.7 million in the first quarter of financial year 2016 ending Nov. 30, 2015 as the industry downturn continues to impact on the company's performance.

CGG Reports Decline in Multi-Client Sales
Monday, January 11, 2016 CGG's multi-client sales decline to $242 million in 4Q 2015, from $290 million during the same period last year.

EMAS Offshore Posts $3.2M Net Loss for 1Q FY2016, Revenue Dips to $49.8M
Monday, January 11, 2016 EMAS Offshore posts a net loss of $3.2 million for first quarter 2016 that ended Nov. 30, 2015 as revenue falls 32 percent to $49.8 million amid challenging operating conditions.

Singapore's TRIYARDS Posts 1Q 2016 Net Profit of $6.2M, Down 25% YOY
Friday, January 08, 2016 Singapore's TRIYARDS posted net profit of $6.2 million for first quarter 2016 ending Nov. 30, 2015, down 25 percent from a year ago.

Norwegian Oil, Gas Survey Firms Report Declining Revenues
Thursday, January 07, 2016 EMGS and TGS report declining revenues in the face of a continued low oil price environment.

IOCs Confirm KRG Oil Export Payments
Wednesday, January 06, 2016 Gulf Keystone Petroleum, DNO ASA and Genel Energy all confirm receipt of payment from the Kurdistan Regional Government for oil exported from the Kurdistan Region of Iraq.

Empyrean Expects Further Upside from Sugarloaf AMI Project in 2016
Thursday, December 31, 2015 Junior oil firm Empyrean expects to see further upside in 2016 from the Marathon-operated Sugarloaf AMI project, onshore Texas.

Malaysia's SapuraKencana 3Q Net Profit Falls 63%
Tuesday, December 22, 2015 SapuraKencana Petroleum Bhd posts a 62.7% fall in third-quarter net profit on provision for impairment on property, plant and equipment, and oil and gas properties.

Anadarko Raises 4Q Oil Sales Volume Outlook, Sees Lower Spending
Thursday, December 17, 2015 Anadarko raises the midpoint of forecast for oil sales volume and expects lower spending during the current quarter and next year as well.


 
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