Top oilfield service provider Schlumberger NV on June 2 estimated 2021 revenues would top $22.5 billion, as oil and gas prices recovered and the company tapped into a growing market for low-carbon technology.
Despite risks, the midstream sector appears to be well-positioned for the second half of 2021.
As California Resources is tracking to the high end of 2021 free cash flow guidance, the company will look for additional ways to return capital to our shareholders as the year progresses, CEO Mac McFarland says.
Alerian’s MLP/Midstream indexes reflect stability compared to other oil and gas sectors.
Chesapeake on May 11 also declared an annual dividend on its common shares of $1.375 per share.
Occidental Petroleum said adjusted loss attributable to common stockholders was $136 million, or 15 cents per share, for the March quarter, compared with a loss of $610 million, or 65 cents per share, in the fourth quarter.
Company attributes the first-quarter loss to halting work on the Keystone XL pipeline.
Rising oil prices have sparked optimism for EOG Resources and other shale producers after enduring a year of destruction in the oil markets, with WTI futures in the U.S gaining 23% in the first quarter.