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News Topics: Earnings Reports

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UAE's TAQA Slashes Capex Plans, Dividend, After Big 4Q Loss
Wednesday, April 01, 2015 Abu Dhabi National Energy Co (TAQA) says it would slash its capital expenditure plans and costs after posting big losses in the fourth quarter on lower oil prices.

Delek Moves to 4Q Loss on One-Off Items, Delays London Listing
Tuesday, March 31, 2015 Israeli energy company Delek Group reports a net loss in the fourth quarter, weighed down by one-time capital losses and writedowns from the divestment of assets.

Seplat Says 2014 Profit Fell 54% as Oil Prices Plunged
Thursday, March 26, 2015 Nigeria's Seplat says its 2014 pre-tax profit dropped 54 percent as the price of crude oil plunged.

SapuraKencana's FY2015 Net Profit Up 32% to $382M, Boosted by Upstream Ops
Tuesday, March 24, 2015 SapuraKencana's net profit rises 32 percent in financial year 2015 to $381.8 million, boosted by income from upstream operations.

Sinopec's Operating Revenue Falls to $36.64B Despite Higher Production
Monday, March 23, 2015 Sinopec's exploration and production business posts a 6% fall in operating revenue in 2014 to $36.64 billion despite production rising 8.44% to 480.22 million barrels of oil equivalent.



EnQuest Says To Increase North Sea Investments After Tax Cuts
Thursday, March 19, 2015 EnQuest says it will be able to invest more money in some of its North Sea oil fields after Britain announced cuts to oil and gas taxes.

Ophir Returns to Profit and Cuts Spending
Thursday, March 19, 2015 Oil explorer Ophir Energy, which completed the acquisition of rival Salamander Energy this month, returned to profit last year and says it would cut spending by $250 million over two years to deal with low oil prices.

UK Engineer Smiths Warns of Hit from Weak Oil Price
Wednesday, March 18, 2015 UK engineer Smiths Group reports a five-percent fall in first-half operating profit and warns that trading in its John Crane unit may be hurt in as oil and gas customers cut spending.

Oil producer Soco Profits Halve, Shares Tumble
Thursday, March 12, 2015 Oil producer Soco International reports a 54 percent decline in annual profit after being hit by the slump in oil prices.

Spanish Point Appraisal Well Deferred
Tuesday, March 10, 2015 Cairn Energy reveals in its results statement for 2014 that an exploration/appraisal well planned near the Spanish Point discovery offshore Ireland will be deferred.

Canadian Natural Keeps 2015 Spin-Off Plan As 4Q Profit Jumps
Thursday, March 05, 2015 Canadian Natural Resources expects to spin off its Western Canada royalty lands this year as it reported unexpectedly strong 4Q results and boosted its dividend.

Genel Expects Regular Payments from Iraqi Kurdistan During 2015
Thursday, March 05, 2015 Genel Energy, still owed $233 million for oil it has sold so far to the Kurdistan Regional Government, expects regular payments from the KRG during 2015.

Subsea 7 Axes Dividend, Sees Lower 2015 Earnings
Wednesday, March 04, 2015 Oilfield services firm Subsea 7 swings to a surprise fourth-quarter operating loss due to a decline in sales and profit margins in difficult market conditions.

Nabors Swings To Loss In 4Q As Drilling Activity Slows
Tuesday, March 03, 2015 Nabors swung to a quarterly loss, hurt by a fall in drilling activity amid a slump in global crude prices.

Russia's Lukoil Says 2014 Net Income Down 39%, Misses Forecast
Tuesday, March 03, 2015 Russia's second-largest oil producer Lukoil reveals that its net income fell 39 percent last year due to weaker oil prices.

Russia's Gazprom Neft Says 2014 Net Profit Down 32%
Monday, March 02, 2015 Gazprom Neft sees its net profit decline 32 percent to $2 billion due to a weaker rouble.

Malaysia's Petronas Posts $2B Quarterly Loss, Cuts Spending On Oil Slump
Friday, February 27, 2015 Petronas reports a $2B quarterly loss and says it plans a cut in spending over the next two years due to the slump in global oil prices.

Russia's Novatek Says Weaker Rouble Slashes 2014 Profit
Friday, February 27, 2015 Novatek's 2014 net income more than halves due to a weaker rouble.

Driller Rowan Writes Down Assets By $438.4M In 4Q
Friday, February 27, 2015 Rowan writes down the value of 12 of its oldest jackups by $438.4M, joining rival Transocean Ltd in recording big asset impairment charges.

Bumi Armada's 2014 Net Profit Dips 49.3% to $60.6M as OSV, T&I Underperform
Thursday, February 26, 2015 Bumi Armada's 2014 net profit fell by half from a year ago to $60.6 million due to lower contributions from its offshore support vessel as well as transport and installation businesses.

Repsol Defies Oil, Gas Sector Gloom with Upbeat Results
Thursday, February 26, 2015 Repsol posts a 27.1% increase in its adjusted net profit for 2014.

Maersk Positions Self for 'New Oil Reality' as Profit Fall
Thursday, February 26, 2015 Maersk Drilling is bracing for the "new oil reality" facing the rig market by implementing cost-cutting and efficiency enhancement programs.

Offshore Driller Ensco To Shut Down Rig, Slashes Dividend
Thursday, February 26, 2015 Ensco says it would shut down an ultra-deepwater rig as demand dwindles due to a slump in crude prices, a day after it slashed its quarterly dividend by 80%.

Pacific Radiance Posts 20% Rise in 2014 Net Attributable Profit to $68.3M
Thursday, February 26, 2015 Pacific Radiance records a 20 percent gain in net attributable profit to $68.3 million, boosted mainly by its offshore support services unit.

Transocean Takes $992M Charge On Drilling Business As Oil Slumps
Thursday, February 26, 2015 Transocean writes down the value of its contract drilling business by $992 million as demand slumps due to lower oil prices.

Premier Oil Scraps Dividend as it Swings to 2014 Loss
Thursday, February 26, 2015 UK oil producer Premier Oil scraps dividend payments after slipping into the red on the back of a steep decline in oil prices.

Argentina's YPF Disappoints With Earnings But Output Growing
Thursday, February 26, 2015 YPF disappoints the market with its earnings but announces that output at a key shale oil and gas field was ramping up.

Petrofac FY Net Profit Falls, Order Book Grows
Wednesday, February 25, 2015 Oilfield services firm Petrofac reports a fall in 2014 net profit due to overruns on two major projects.

Encana Cuts 2015 Budget After 85% Fall In Operating Profit
Wednesday, February 25, 2015 Encana slashes its 2015 capital budget by a quarter in response to a slump in global crude oil prices.

Chesapeake Profit Falls Short; Company To Slash Spending
Wednesday, February 25, 2015 Chesapeake says it will slash its 2015 spending and rig count in response to low crude oil prices that also pushed its 4Q profit below Wall Street expectations.

Vallianz Posts Net Record Profit of $20.4M in 2014, Lifted by OSV Segment
Wednesday, February 25, 2015 Vallianz Holdings' net profit rises to a record $20.4 million in 2014, almost twice the $10.3 million from a year ago, with the gains due mainly to contributions from its offshore support vessel chartering operations in the Middle East.

MOL Swings to Loss, Even Though Downstream Performs Well
Tuesday, February 24, 2015 MOL swings to a quarterly loss partly due to one-off costs and a steep fall in crude prices.

Continental Gets One Last Boost From Sale Of Oil Hedges
Tuesday, February 24, 2015 Continental Resources posts a quarterly profit far above Wall Street's expectations, as a one-time gain from the sale of hedges lifts results and offsets tumbling commodity prices.

Archer Hit By US Shale Rig Squeeze, Targets At Least 10% Cost Cuts
Monday, February 23, 2015 Archer expects to cut its costs by at least 10% through an 11% headcount reduction, as it adapts to a weaker market in the North Sea and the US, the firm says.

Songa Offshore Expects 'Challenging Year'
Friday, February 20, 2015 Rig operator Songa Offshore expects 2015 to be a 'challenging year' as it expects more rigs to leave the Norwegian Continental Shelf.

Thailand's PTT Posts Record Quarterly Loss in 4Q on Weak Oil Prices
Friday, February 20, 2015 Thailand's PTT reports its worst-ever quarterly loss as it is it by plunging oil prices.

Oil Hedges Help Noble Energy Beat Fourth-Quarter Profit Forecast
Thursday, February 19, 2015 Noble Energy posts 4Q net income of $402 million as a big gain on hedges helps it beat forecasts even as revenue dips on the decline in crude prices.

Enbridge Fourth-Quarter Profit Boosted By New Projects
Thursday, February 19, 2015 Enbridge says it returned to profit in the fourth-quarter as new projects entered service.

OMV's Profits Buoyed by Downstream Business
Thursday, February 19, 2015 Austria's OMV posts better-than-expected fourth-quarter profits but expects North Sea Brent oil to remain at between $50 and $60 per barrels this year.

Santos Holds Back On Dividend Hike As Oil Slump Bites
Thursday, February 19, 2015 Santos reported a 6% rise in underlying profit for 2014, boosted by LNG sales from Papua New Guinea.

New Centrica Head Cuts Dividend after Energy Prices Fall
Thursday, February 19, 2015 UK energy firm Centrica cuts dividend and its 2015-2016 exploration and production budget due to weak energy prices.

Mexico Central Bank Cuts 2015, 2016 Growth Outlook On Oil Slump
Wednesday, February 18, 2015 Mexico's central bank revises down its growth outlook for this year and next after a sharp drop in oil prices spur budget cuts and dampen the outlook for an opening of the country's energy sector.

Marathon Oil Slashes Spending A Second Time, Profit Rises
Wednesday, February 18, 2015 Marathon Oil cuts its 2015 budget by another 20% to $3.5 billion and says its 4Q profit rose.

European Services Firms Technip, Dolphin Report Upbeat Results
Wednesday, February 18, 2015 France's Technip and Norway's Dolphin Group both report ending 2014 with strong order books.

Woodside's 2014 NPAT Up 38% to $2.4B, to Cut 2015 Spending by 15-20%
Wednesday, February 18, 2015 Woodside's net profit after tax rises to $2.414 billion in 2014, up 38 percent from a year ago, but the company plans to cut investment and operating expenditures by 15-20 percent this year.

UK's Wood Group Says Full-Year EBITA Rises; Shares Gain
Tuesday, February 17, 2015 Energy services firm John Wood Group reports a 3.1-percent increase in earnings.

Dragon Oil's Full-Year Operating Profit Falls on Higher Costs, Charge
Tuesday, February 17, 2015 Energy group Dragon Oil's full-year operating profit falls 16 percent as it spent more to sell its crude oil and took a $24 million impairment charge from well exploration in its Philippines asset.

Cosco's Net Profit Falls to $21.07M in 2014, Down 50% YOY
Tuesday, February 17, 2015 Cosco reported a 50 percent decline in net profit for 2014 to $21.07 million, compared to $42.22 million in 2013.

BW Offshore: Demand for New Leased Units 'Currently Uncertain'
Monday, February 16, 2015 BW Offshore says that despite short-term demand for new leased floating production units, it still expects outsourced production to be a cost-effective solution for oil firms.

Saipem Misses Guidance Due To Balance Sheet Clean Up, Wary On 2015
Monday, February 16, 2015 Saipem misses full-year forecasts and gives a wary outlook for 2015 after booking more than $567 million of charges to clean up a balance sheet damaged by falling oil prices.

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