Earnings Reports News

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BP Cuts Dividend for First Time Since 2010
Tuesday, August 04, 2020BP cut its dividend for the first time in a decade, removing a cornerstone of its investment case.

Crisis Presents BP CEO With Chance to Change
Monday, August 03, 2020The crisis is giving Looney the opportunity to accelerate the big changes needed to fulfill his vision.

Exxon and Chevron Post Historic Losses
Friday, July 31, 2020Exxon Mobil Corp. and Chevron Corp. posted the worst losses in a generation.

Oil Inventory Data Prompt Reminiscing
Friday, July 31, 2020Rigzone panelists offer their insights on the top oil market hits and misses for the week ending July 31, 2020.

Trading Bonanza Saves Quarter for Shell and Total
Thursday, July 30, 2020Royal Dutch Shell Plc and Total SE were saved from what many feared would be the worst quarter ever for the oil and gas industry.

GE to Divest Baker Hughes Stake Over Three Years
Wednesday, July 29, 2020General Electric Co. predicted slow gains in operations this year and next after the coronavirus pandemic battered results in the second quarter.

Equinor In Surprise Profit
Friday, July 24, 2020Equinor reported a surprise profit in the second quarter.

Schlumberger Job Cuts to Top 21,000
Friday, July 24, 2020Schlumberger is shrinking staffing to an 11-year low.

Rising Debt Pressures Supermajor Dividends
Wednesday, July 22, 2020Once a money-making machine, Big Oil is now relying on ever-increasing amounts of debt, raising the pressure on highly prized dividends.

Baker Hughes Eyes Next Lockdown Risk
Wednesday, July 22, 2020Baker Hughes Co. is bracing for a second wave of pandemic-induced lockdowns.

100+ Oil Firms Write Down $92B in 1Q
Tuesday, July 21, 2020More than 100 global oil and natural gas companies wrote down a total of $92 billion worth of assets during the first quarter of 2020.

Woodside Warns of $4.3B Post Tax Hit
Wednesday, July 15, 2020Woodside Petroleum has warned that it expects to take a post-tax hit of $4.37 billion in its financial results for the first half of the year.

Fracking Services Company Files for Chapter 11
Wednesday, July 15, 2020Hi-Crush Inc has voluntarily filed petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code.

Filing Shows ExxonMobil Loss
Thursday, July 02, 2020Exxon Mobil Corp. incurred an unprecedented second straight quarterly loss.

Shell Expects Up To $22B 2Q Impairment Charge
Tuesday, June 30, 2020Royal Dutch Shell plc expects aggregate post-tax impairment charges in the range of $15 billion to $22 billion in the second quarter of this year.

BP Write-Down Implications Are Very Real
Tuesday, June 16, 2020The implications of BP's recently announced write-down are 'very real', according to Wood Mackenzie.

BP Writes Off Billions
Monday, June 15, 2020BP will make the biggest write down in a decade on the value of its business.

Seadrill to Delist from NYSE
Tuesday, June 02, 2020Seadrill Limited has revealed that it will delist from the New York Stock Exchange.

Oxy Faces Investor Lawsuit Over Anadarko Acquisition
Friday, May 29, 2020Investors claim they lost billions when Oxy overleveraged itself after its Anadarko acquisition.

Apache Listing Solely on Nasdaq
Friday, May 29, 2020Apache Corporation has revealed that it will list its common stock solely on the Nasdaq Stock Market from June 9.

BW Offshore Records $233MM Impairment for 1Q
Wednesday, May 27, 2020The impairment reflects uncertainty on FPSO redeployment in the current market turmoil.

Chevron to Cut Global Workforce by Up to 15 Percent
Wednesday, May 27, 2020Chevron plans to strip $1 billion of operating expenses this year in addition to slashing capital spending by almost a third.

Petrobras Books Hefty 1Q Impairment on Oil, Gas Assets
Monday, May 18, 2020The company wrote off the entire value of its shallow-water assets.

Chesapeake Revives Going Concern Warning
Tuesday, May 12, 2020The outlook for the company's debt restructuring effort is teetering.

Continental to Curtail 70 Percent of Oil Output in May
Monday, May 11, 2020It's one of the most aggressive production cuts announced to date among US producers.

Oil Expected to Reach $100 Again
Friday, May 08, 2020Here are some of Rigzone's top stories during the last week, just in case you missed them...

Oxy Takes $1.4B Writedown
Wednesday, May 06, 2020Occidental Petroleum Corp. took a $1.4 billion writedown related to an investment in a pipeline affiliate.

Total Targets Carbon Neutrality in 2050
Tuesday, May 05, 2020Total SA set out bolder commitments to eliminate most of its carbon emissions by 2050, while curbing spending on oil and gas projects due to the crude-price slump.

Sabic Suspends All but Essential Spending
Monday, May 04, 2020Saudi Basic Industries Corp. is suspending new capital expenditure after an oil-price slump and coronavirus-related lockdowns hammered demand for chemicals.

Permian Drillers Slash Output Themselves
Monday, May 04, 2020On the same day OPEC-style oil quotas in Texas were pronounced dead on arrival, shale drillers disclosed more supply cuts.

Diamond Files Chapter 11
Friday, May 01, 2020Here are some of Rigzone's top stories during the last week, just in case you missed them...

Exxon Sees Historic Loss on Rout With Chevron in Retreat
Friday, May 01, 2020Exxon Mobil posted its first loss in at least three decades and Chevron slashed $2 billion off its spending plan.

Global E+P Revenues to Fall by $1 Trillion
Thursday, April 30, 2020Global exploration and production revenues will fall by about $1 trillion this year, according to Rystad Energy.

Shell Cuts Dividend for First Time Since WWII
Thursday, April 30, 2020Royal Dutch Shell cut its dividend for the first time since the Second World War.

Shell Dividend Cut Dubbed Sensible
Thursday, April 30, 2020Shell's move to cut its dividend by 66 percent has been described by Wood Mackenzie's Tom Ellacott as a 'sensible and prudent action'.

Petrobras Switches Gears on Production Cuts
Wednesday, April 29, 2020Plans are also underway for initiatives that expand oil export capacity.

Diamond Offshore Files for Bankruptcy
Sunday, April 26, 2020Diamond Offshore Drilling filed for bankruptcy amid an unprecedented crash in crude prices that's wrecking demand for oil exploration at sea.

Eni Cuts Production Forecast, Sees 94 Percent Slump in Profit
Friday, April 24, 2020The bulk of the cuts --eighty percent-- will come from the exploration and production business.

Schlumberger Revenues Tumble Under Double Black Swan
Monday, April 20, 2020The 1Q results also include a $8.5B pretax charge, driven by the sharp decline in market valuations.

Halliburton Slashes Spending to Brace for Demand Declines
Monday, April 20, 2020It set 2020 capital outlays at $800 million, 33 percent below previous guidance and the first sub-$1 billion budget since 2016.

Petrofac Loses ADNOC Job
Friday, April 17, 2020Here are some of Rigzone's top stories during the last week, just in case you missed them...

Weatherford Sees Improvements in 1Q Financial Results
Thursday, April 16, 2020However, in the current operating environment, the company's debt levels are still too high.

Abraxas Petroleum Falls Out of Compliance With NASDAQ
Wednesday, April 08, 2020The company failed to file its Form 10-K for the period ended Dec. 31, 2019.

Big Oil Has $12B Bond Splurge
Thursday, April 02, 2020Royal Dutch Shell Plc, Total SA and Equinor ASA are selling $12 billion of bonds as the combined effect of the slump in oil prices and the collapse in demand threaten to sap cash flows for months.

CNOOC's Productivity Hit Records in 2019
Thursday, March 26, 2020CNOOC saw multiple operating indicators reach record levels in 2019, according to its recent year-end results.

New Mexico Sets New Royalty Record
Wednesday, March 11, 2020The New Mexico State Land Office received $108,916,517 in royalty payments in February from oil and gas operations on state trust land.

Talos Cancels Investor Event Due to Virus
Tuesday, March 10, 2020Talos Energy Inc. revealed Monday that it is cancelling its analyst and investor event scheduled for March 12 in New York City.

TechnipFMC Job Cuts Just Around the Corner
Friday, March 06, 2020Here are Rigzone's top stories during the last week, just in case you missed them...

Weir to Become Mining Tech Pure Play
Thursday, February 27, 2020Weir Group plc has announced that its focus is now on becoming a mining technology pure play.

Kosmos Appoints New CFO
Monday, February 24, 2020Kosmos Energy's current senior vice president and chief financial officer will retire in May.