Earnings , Exploration & Production , Shale Plays , Technology

Patterson-UTI Sees Shale Activity Picking Up through Early 2021

U.S. oilfield services firm Patterson-UTI Energy expects oil and gas activity to continue to improve through at least the first quarter of 2021, CEO Andy Hendricks told investors.

October 22, 2020

Earnings , Exploration & Production

Natural Gas Driller EQT Posts Smaller-than-expected Loss on Lower Costs

The company now expects full-year sales volumes of between 1.48 billion cubic feet equivalent (bcfe) and 1.5 bcfe, slightly higher than its previous range of 1.45 bcfe to 1.5 bcfe.

October 22, 2020

Public Capital , Earnings , Midstream , Pipelines

Kinder Morgan Profit Falls as Pandemic Hits Energy Demand

Market conditions are weighing on a number of planned expansion projects, Kinder Morgan said, adding that they were not needed at least in the near term.

October 22, 2020

Earnings , Exploration & Production

Baker Hughes Posts Third Straight Quarterly Loss as Demand Still Hurt

Revenue from Baker Hughes’ oilfield services unit, which accounts for nearly 46% of its total sales, fell 31% to $2.31 billion in the third quarter.

October 21, 2020

Earnings , Exploration & Production

Halliburton Posts Fourth Straight Quarterly Loss as Oil Rout Drags Demand

Halliburton still beat analyst estimates earning 11 cents a share versus expectations of 8 cents per share.

October 19, 2020

Public Capital , Earnings

Oil Major Exxon Mobil Signals Bigger-than-expected Loss in Third Quarter

Higher oil prices will help Exxon Mobil's exploration and production earnings by $1.4 billion to $1.8 billion, compared with the second quarter, the company said.

October 1, 2020

Public Capital , Earnings , Exploration & Production

ConocoPhillips to Resume Share Buybacks of $1 Billion

ConocoPhillips on Sept. 30 forecast a smaller-than-expected quarterly adjusted loss and said it would resume share repurchases after a historic market collapse forced the oil and gas producer to halt the program in April.

October 1, 2020

Earnings , Exploration & Production , Mergers

Israel’s Delek Group in Ithaca Energy Merger Talks

Merging Ithaca Energy with an international group would be part of a process of turning it into a public company traded in London, Delek said in a statement.

August 31, 2020

Public Capital , Earnings , Exploration & Production , Shale Plays

Occidental to Cut Debt Before Boosting Oil Production, CEO Vicki Hollub Says

Occidental is restarting some activity in the Permian Basin and Gulf of Mexico, but its focus is to "ensure that we have the liquidity to go forward so we have the ability to meet our maturities," CEO Vicki Hollub says.

August 11, 2020