Earnings
Public Capital , Earnings , Shale Plays
Apache Gains $147 Million from Change in Natgas Hedging Before Texas Freeze
Analysts at Cowen & Co. boosted their earnings estimates for Apache due to better-realized pricing, notably in gas that “reflect greater exposure to daily pricing versus bid week.”
Public Capital , Earnings , Shale Plays
Permian Shale Producer Diamondback Energy Raises Production Outlook
Diamondback Energy, which closed its acquisition of Denver-based producer QEP Resources last month, also raised its 2021 capex forecast to between $1.6 billion and $1.75 billion versus its previous forecast of $1.35 billion to $1.55 billion.
Earnings , Shale Plays , Construction , Pipelines
Phillips 66 Partners Cancels Rockies, Bakken Oil Pipeline Project
The roughly $1.6 billion project, which was proposed to support oil production growth in the Rockies and the Bakken shale regions, had been put on hold more than a year ago.
Earnings , Exploration & Production
Shell Sees $200 Million Hit to Earnings from Texas Winter Storm
An extreme cold snap in Texas in February is expected to have shrunk Shell’s oil output by 10,000-20,000 bbl/d and to shave up to $200 million from its adjusted first-quarter earnings.
Public Capital , Earnings
Exxon Mobil Signals First Profit in Five Quarters on Price Gains
Exxon Mobil could top Wall Street estimates based on its March 31 securities filing, according to brokerage Raymond James & Associates.
Public Capital , Earnings , Health, Safety & Environment , Emissions , Shale Plays
Callon Petroleum Ties Executive Pay to Emissions Reduction Targets
Callon Petroleum, which operates in the Permian Basin and Eagle Ford Shale, is “committed to sustainable and responsible development of our resources by mitigating the risks of climate change,” says President and CEO Joe Gatto.
Public Capital , Earnings , Emissions , Shale Plays
Occidental Petroleum Ties Low-carbon Business Targets to CEO Bonus
Occidental Petroleum increased the weight assigned to its emissions reductions and low-carbon ventures unit to 30% of CEO Vicki Hollub’s target bonus, according to its proxy filing.
Public Capital , Earnings , Exploration & Production , Shale Plays
Shale Industry’s Dilemma Persists Despite Free Cash Flow Milestone
A cross-section of 30 shale-focused oil and gas producers marked the first full year of positive free cash flows since the fracking boom began—but only after deep cuts to capex that raise troubling questions about the shale industry’s future, analysts say.
Public Capital , Private Equity , Earnings
BP CEO Bernard Looney Receives $2.4 Million in 2020 after Bonuses Binned
Bernard Looney’s total remuneration for 2020 could have been up to 11 million pounds (US$15.24 million) based on BP’s remuneration plan, more than the $13.23 million his predecessor earned in 2019.
Earnings , Exploration & Production
Argentina's YPF to Invest More Than $300 Million in Santa Cruz Province
YPF is at the heart of Argentina’s efforts to reduce its annual energy deficit and become a net oil exporter.