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News Topics: Earnings Reports

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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.

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.

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 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.

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.

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.

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%.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Sembcorp Marine Posts 2014 Net Profit of $412M, Revenue Rises 6% to $4.2B
Monday, February 16, 2015 Sembcorp Marine posts a net profit of $412.2 million in 2014, up slightly from a year ago, while revenue rose 6 percent to $4.2 billion.

Aker Provides Oilfield Services Cheer with Upbeat Results
Friday, February 13, 2015 Bucking the current gloomy outlook for oilfield services, Aker Solutions produces upbeat results and increases its order book.

TransCanada Profit Beats Estimates, Boosts Dividend
Friday, February 13, 2015 TransCanada reports a better-than-expected fourth quarter profit, driven mainly by increased earnings from its Canadian operations.

Husky Energy Swings To Loss, Cuts 2015 Capex Again
Thursday, February 12, 2015 Husky Energy swings to a quarterly loss and cuts its capital budget for the second time in three months as oil trades at 5-year lows.

Hercules Offshore Cuts Jobs, Salaries To Rein In Costs
Thursday, February 12, 2015 Hercules Offshore reports a much smaller-than-expected quarterly loss as the company reins in costs to cope with falling demand due to a slump in crude oil prices.

Cenovus to Cut Jobs, Freeze Hikes as Losses Deepen on Oil Price Tumble
Thursday, February 12, 2015 Canada's Cenovus Energy says it will cut 15 percent of its workforce as it reports an eightfold increase in its quarterly loss.

Apache Slashing 2015 Rig Count, Capex Due To Low Oil Prices
Thursday, February 12, 2015 Apache reports a quarterly loss as it writes down the value of oil and gas assets and says it is reducing its rig count by more than a third in response to the collapse in crude oil prices.

Total Takes $6.5B Impairment, Cuts Costs To Counter Weak Oil
Thursday, February 12, 2015 Total says it will shed 2,000 jobs as it cuts costs in response to the weak oil price.

Tullow Oil Scraps Dividend After First Loss In 15 years
Wednesday, February 11, 2015 Tullow Oil reports a $2B pretax loss, its first in 15 years, and one of the only companies in the sector to sacrifice its dividend to deal with a sharp decline in oil prices.

Galp Delivers Results Ahead of Expectations
Monday, February 09, 2015 Portugal's Galp Energia delivers results for 2014 that were ahead of expectations.

Diamond Offshore Sees Weak Demand, Scraps Special Dividend
Monday, February 09, 2015 Rig contractor Diamond Offshore Drilling expects a significant number of ultra-deepwater rigs to be idled across the industry by year-end as oil producers' capital budget is likely to be lowered by a fifth this year.

Oil Firm Det Norske to Book 4Q Impairment Charge
Friday, February 06, 2015 Det norske books a 4Q 2014 impairment charge connected to its acquisition of Marathon Oil's Norwegian business.

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