Earnings , Drilling , Digital Oilfield , Completions

Halliburton Profit Beats Estimates on Cost Cuts, Demand Recovery

Halliburton Co. posted a better-than-expected fourth-quarter profit on Jan. 19, buoyed by cost cuts and a recovery in demand for oilfield equipment and services after last year’s industry slump.

January 19, 2021

Earnings , Exploration & Production , Shale Plays

OPEC Output Cuts Should Help US Shale Profits in 2021

Higher oil prices will fall directly to U.S. shale producers' bottom lines given recent cost cuts and commitments to keeping output flat.

January 11, 2021

Public Capital , Earnings , Exploration & Production

Dallas Fed Survey: US Energy Execs See Capital Spending Rising in 2021

About half of U.S. energy company executives polled by the Federal Reserve Bank of Dallas expect their firms to increase capital spending in 2021, and another quarter of respondents see those expenditures remaining flat.

December 31, 2020

Public Capital , Earnings

Exxon Mobil Signals Up to $20 Billion Write-down to Overwhelm Fourth-quarter Gains

Exxon Mobil signaled in a regulatory filing that higher oil and gas prices and improved chemicals margins would aid fourth-quarter results, but the gains would be overshadowed by an up to $20 billion asset write down.

December 31, 2020

Earnings , Exploration & Production , Liquefied Natural Gas (LNG) , Emissions

Shell to Write Down Assets Again, Taking Cuts to More Than $22 Billion

Royal Dutch Shell on Dec. 21 said it will write down the value of oil and gas assets by $3.5 billion to $4.5 billion following a string of impairments this year as it adjusts to a weaker outlook.

December 21, 2020

Public Capital , Earnings , Midstream

Kinder Morgan Raises Dividend on Profit Expectations for 2021

Kinder Morgan said on Dec. 8 it expects to generate higher income in 2021 and raised its annual dividend, as the pipeline operator cost cuts this year in the face of oil demand destruction.

December 8, 2020

Public Capital , Earnings , Midstream

Pipeline Operator Enbridge Forecasts Higher 2021 Core Earnings

Enbridge said it also expects rates for gas transportation to rise and a growing customer base for gas distribution and storage.

December 8, 2020

Restructurings , Earnings , Exploration & Production , Drilling

Offshore Driller Noble Corp. to Emerge from Chapter 11 Bankruptcy

Noble Holding Corp. revealed on Nov. 23 that the United States Bankruptcy Court for the Southern District of Texas has issued an order approving the company’s Joint Plan of Reorganization.

November 24, 2020

Earnings , Exploration & Production , Technology

Wintershall Dea Looks beyond Pandemic, Costs to Fall, Volumes to Rise

German oil and gas company Wintershall Dea said Nov. 23 the low commodity prices caused by the coronavirus crisis had hit its third-quarter results, but that sustainably lower operating costs and higher output would help long-term.

November 23, 2020

Public Capital , Earnings , Exploration & Production , Emissions , Shale Plays

Occidental Caps 2021 Spending, Sets Net-Zero Emissions Target

Occidental is returning drilling rigs to work in the Permian Basin in the southwestern U.S. and in Colorado this quarter, and returned a drillship to the Gulf of Mexico in early October.

November 10, 2020