Earnings Reports News

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Seadrill Partners Files Chapter 11
Wednesday, December 02, 2020Seadrill Partners LLC announced Tuesday that it has filed voluntary petitions under chapter 11 of the Bankruptcy Code.

Exxon Faces Historic Writedown
Tuesday, December 01, 2020Exxon Mobil Corp. is about to incur the biggest writedown in its modern history.

Aramco Keeps Dividend
Tuesday, November 03, 2020Saudi Aramco failed to generate enough cash to cover its dividend, yet left the payout unchanged at $18.75 billion for the third quarter even as profit fell 45% and debt continued to rise.

Chevron Stuns Analysts with Earnings Surprise
Friday, October 30, 2020Chevron Corp. posted a surprise profit as the oil supermajor slashed capital spending to cope with the pandemic-driven collapse in crude demand.

XOM Warns of $30B Shale Writedown
Friday, October 30, 2020Exxon Mobil Corp. warned it may take up to $30 billion in writedowns on natural gas fields after posting a historic loss despite sweeping budget and job cuts.

Exxon Keeps Dividend High
Thursday, October 29, 2020Exxon Mobil Corp. is maintaining the third-highest dividend in the S&P 500 Index.

BP Ekes Out Surprise Profit
Tuesday, October 27, 2020BP Plc used a surprise third-quarter profit to reassure investors that it was on the road to recovery, while also warning that it would be a long journey.

Five Themes to Watch Among Oil Majors
Monday, October 26, 2020Six months on from crude's era-defining price crash, Big Oil is suffering from whiplash.

NES Global Talent Reports Strong 2019 Results
Tuesday, October 06, 2020NES Global Talent, which recently combined with the Fircroft Group, revealed that it achieved 'record results' for the year ending October 31, 2019, back when it was a single entity.

Permian Jewel Preps for Biden And More
Saturday, October 03, 2020Here are some of Rigzone's top upstream stories during the last week, just in case you missed them...

ExxonMobil Signals Another Loss
Thursday, October 01, 2020A third-quarter loss would suggest Exxon still isn't able to fund either its dividend or capital expenditure from operational cash flow.

Oasis Petroleum Files Chapter 11
Thursday, October 01, 2020Oasis Petroleum (NASDAQ: OAS) has filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code.

Whiting Petroleum Emerges from Chapter 11
Wednesday, September 02, 2020Whiting Petroleum Corporation (NYSE: WLL) has successfully completed its financial restructuring and emerged from Chapter 11 protection.

Anadarko Basin Player Files Chapter 11
Monday, August 17, 2020Chaparral Energy Inc has voluntarily filed petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in accordance with a restructuring support agreement it has made.

US Shale Producers at a Crossroads
Tuesday, August 11, 2020U.S. shale producers are at a crossroads as they find themselves more efficient than ever.

Oxy Books $6.6B Charge for Second Quarter
Monday, August 10, 2020Occidental is struggling with a $40 billion debt burden after its ill-timed purchase of Anadarko Petroleum Corp. last year.

XOM Tears Up Debt Fueled Plan
Friday, August 07, 2020Here are some of Rigzone's top stories during the last week, just in case you missed them...

Profit Warnings Soar for UK Oil Cos
Friday, August 07, 2020UK listed oil and gas companies issued more profit warnings in the second quarter of this year than the whole of 2019.

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.

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.

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

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.

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

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

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

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.

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.

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.

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.

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.

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.

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

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.

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

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.

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.

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.

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.

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...