Earnings Reports News

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Focus Projects Strained McDermott Finances
Thursday, January 23, 2020 'Focus projects', namely Freeport and Cameron LNG, significantly strained McDermott's finances.

Schlumberger Posts $10B Loss in 2019
Friday, January 17, 2020 Schlumberger posted a $10.1 billion loss in 2019 amid North America land market weaknesses.

Tullow to Take $1.5B Charge
Wednesday, January 15, 2020 Tullow Oil expects to take a charge of $1.5 billion when it reports 2019 results.

Weatherford Emerges from Chapter 11
Tuesday, December 17, 2019 Weatherford International has completed its financial restructuring and emerged from chapter 11 protection.

Chevron Eyes $11B Writedown Amid Weak Gas Prices
Tuesday, December 10, 2019 More than half of it is from its Appalachia natural gas assets after a slump in prices.

Fredriksen Leaves Seadrill Board
Thursday, November 21, 2019 Billionaire John Fredriksen steps down as chairman of Seadrill.

Oil Majors' Carbon, Portfolio Changes Offer Long-Term Positives
Wednesday, November 13, 2019 Both BP and Royal Dutch Shell recently shared downbeat financials but their long-term objectives are a silver lining.

Halcon Posts Net Loss in 3Q Earnings
Wednesday, November 13, 2019 Houston-based Halcon Resources Corporation reported a net loss of $63.3 million (40 cents per share) in the third quarter.

Enbridge Adding More Pipeline Capacity
Friday, November 08, 2019 Enbridge Inc. is adding more pipeline capacity for Canadian oil producers this year and sees progress on the crucial C$9 billion ($6.8 billion) replacement and expansion of its Line 3 crude-oil pipeline.

Icahn to Plan Proxy Fight at Occidental
Friday, November 08, 2019 Carl Icahn plans to launch a proxy fight at Occidental following cuts to the company's budget that may put its dividend at risk because of debt incurred in its $37 billion takeover of Anadarko.

Weir Group Cut 450 US Jobs from Oil, Gas Division
Thursday, November 07, 2019 The Weir Group, plc cut one-fifth of its oil and gas workforce in the U.S. during third quarter as it encountered weak market activity in North America.

Mitsubishi to Shut Singapore Based Oil Unit
Wednesday, November 06, 2019 Mitsubishi Corp. will shut its Singapore-based oil unit after saying a rogue trader lost about $314 million in unauthorized transactions.

Chesapeake Stock Nosedives to 20-Year Low
Wednesday, November 06, 2019 Shares fell as much as 24 percent intraday on Wednesday to their lowest since 1999.

Aramco Starts IPO
Monday, November 04, 2019 Saudi Arabia is pulling out all the stops to ensure the success of Aramco's initial public offering.

Hollub Faces Investor Scrutiny
Monday, November 04, 2019 Vicki Hollub is set to face investors for the first time since leading Occidental Petroleum Corp.'s controversial $37 billion purchase of Anadarko Petroleum Corp.

Chevron Misses Profit Estimate
Friday, November 01, 2019 Chevron Corp.'s third-quarter earnings missed estimates, making it the only oil major to fall short of analysts' predictions.

Exxon Posts 49 Percent Profit Loss in 3Q
Friday, November 01, 2019 ExxonMobil Corp. reported $3.17 billion in profits in the third quarter, nearly half of its profit from one year ago, according to the company's third quarter earnings statement.

Repsol Profit Beats Estimates
Thursday, October 31, 2019 Repsol SA's third-quarter income beat expectations as retail and chemical operations helped offset lower oil prices.

Weatherford Reports $821MM 3Q Loss
Thursday, October 31, 2019 Struggling oilfield services company Weatherford International had a loss of $821 million in third quarter of 2019.

Big Oil Gets Bigger
Wednesday, October 30, 2019 Big oil has gotten a lot bigger, according to Wood Mackenzie Chairman and Chief Analyst Simon Flowers.

Baker Hughes Rakes in Higher Profits in 3Q
Wednesday, October 30, 2019 Baker Hughes Company's net income for third quarter was $57 million, more than quadruple the amount year-over-year.

ConocoPhillips Profit Beats Estimates
Tuesday, October 29, 2019 ConocoPhillips follows BP Plc in posting higher-than-expected third-quarter profit.

BP Profit Beats Amid Strong Refining Performance
Tuesday, October 29, 2019 BP reported profit that beat analyst estimates as a strong refining performance offset the effect of lower oil and natural gas prices, and bad weather that curbed production.

Big Oil Investors Bracing for Bad News
Monday, October 28, 2019 Slumping energy prices, sluggish global demand and shrinking chemical margins are weighing on the oil industry as its biggest names prepare to announce quarterly results.

TechnipFMC 3Q Profits Dip
Friday, October 25, 2019 TechnipFMC saw its net income drop to $21.8 million in third quarter.

Helix Reports Highest Quarterly Revenue Since 2014
Tuesday, October 22, 2019 4Q operations will face the normal winter slowdown in the North Sea and lower rates in the Gulf of Mexico.

Schlumberger Reassessing North America Land Strategy
Monday, October 21, 2019 The strategic review of its US land market business is on the heels of weak regional performance during 3Q.

Halliburton Plans Cost Cuts as 3Q Revenue Dips
Monday, October 21, 2019 The oilfield services company vows to "streamline operations" in the fourth quarter to generate $300 million in cost savings.

Schlumberger Rips Off Band-Aid With $12.7B Writedown
Friday, October 18, 2019 Wall Street guessed that writedowns from Schlumberger were coming, but some analysts were taken aback by the sheer size of the $12.7B in pretax charges reported.

US Independent Emerges from Bankruptcy
Thursday, October 10, 2019 Halcon Resources Corporation has emerged from bankruptcy under chapter 11 of the U.S. bankruptcy code.

Oil Major Accelerates Dividend Growth
Tuesday, September 24, 2019 French oil major Total revealed Tuesday that its board of directors has decided to accelerate dividend growth in the coming years.

Volatile Market Expected to Continue in 2H
Friday, September 20, 2019 The oil and gas market is expected to continue to be volatile in the second half of 2019, Petronas notes.

A Crazy Day for Oil Leaves Traders Dazed
Wednesday, September 18, 2019 The Sunday opening of the oil market is traditionally a sedate affair. Last Sunday was different.

Rig Bosses Try to Win Back Investors
Friday, September 13, 2019 Offshore drilling executives are trying to win back investors who have fled their stocks over the past year.

Sasol Delays 2019 Results Again
Friday, September 06, 2019 Sasol delayed its annual financial results for a second time to allow for a more in-depth investigation into what went wrong during construction of its $13 billion Louisiana chemical project.

US Fracking Sector Disappoints in 2Q
Wednesday, August 21, 2019 A review of 29 fracking-focused oil and gas companies revealed 'meager' cash returns in the second quarter of 2019.

Shale Bond Buyers Get Picky
Tuesday, August 20, 2019 After years pouring funds into the shale boom, bond buyers are getting increasingly selective.

Oil Refiners Go from Profit Pain to Gain
Monday, August 19, 2019 The imminent overhaul of global ship-fuel regulations is finally delivering a long-awaited benefit to Asian oil refiners.

Saudi Aramco's First Results Call Yields No Surprises
Monday, August 12, 2019 Saudi Aramco's senior executives can breathe a collective sigh of relief after the company's first-ever earnings call with investors.

Saltstone Pushes Abraxas for Strategic Alternatives
Friday, August 09, 2019 The company's latest earnings report marked the ninth consecutive quarter of failing to meet consensus estimates.

Pioneer's 2019 Permian Production Growth on Track
Friday, August 09, 2019 Pioneer still plans to operate an average of 21 to 23 horizontal rigs in the Permian this year.

Chevron Warns of Future Venezuela Events Hurting Earnings
Wednesday, August 07, 2019 The last major U.S. oil producer in Venezuela is warning that developments in the crisis-torn South American nation could hurt its earnings.

Concho Stumble Casts Cloud Over Permian
Friday, August 02, 2019 One of the largest oil drillers in America's most prolific shale field is being forced to slow down, casting a dark cloud over an industry already struggling to win back investors.

Exxon Profits Down 21 Percent in 2Q
Friday, August 02, 2019 ExxonMobil Corp. reported $3.1 billion in profits for the second quarter, a 21 percent decrease from a year ago.

Shell Profit Misses Amid Slowing Economy
Thursday, August 01, 2019 Royal Dutch Shell Plc got caught into the same earnings trap as many of its peers, reporting second-quarter earnings that fell well short of expectations.

BHGE Sees Profits Increase in 2Q
Wednesday, July 31, 2019 Baker Hughes, a GE Company raked in higher revenues and orders for the second quarter as the Houston-based oilfield services company strengthened its international markets.

Whiting Cuts 33 Percent of its Workforce
Wednesday, July 31, 2019 U.S. independent Whiting Petroleum Corporation cut one-third of its workforce as it executes a restructuring of its business.

BP Bucks Trend of Big Oil Earnings Misses
Tuesday, July 30, 2019 BP bucked the trend of disappointing oil and gas earnings.

ConocoPhillips's Profits Flat in 2Q
Tuesday, July 30, 2019 The oil and gas producer raked in $1.58 billion in earnings while slightly boosting production and capital spending.

Houston Rig Giant Keeps Astros Owner on Board
Monday, July 29, 2019 Jim Crane was voted off Nabors Industries' board by shareholders but the world's biggest owner of land-drilling rigs says it wants him to stay.