Earnings

Earnings , Unconventional

EOG Aims To Grow Premium Inventory, Test New Plays

EOG Resources plans to test about six oil and gas prospects this year with a focus on adding premium drilling locations while still lowering well costs.

February 28, 2020

Earnings , Exploration & Production , Shale Plays

Occidental Petroleum Posts Loss After Taking Over $1.7 Billion Impairment, Charges

Occidental Petroleum has been aggressively cutting costs by laying off staff and selling assets to pay down its $38.54 billion debt pile following its acquisition of Anadarko Petroleum.

February 28, 2020

Earnings , Unconventional

EOG Resources Beats Profit Estimates On Higher Output, Boosts Dividend

The Houston-based company’s total production rose 11% to 78.2 million barrels of oil equivalent per day for the quarter ended Dec. 31.

February 28, 2020

Public Capital , Earnings , Exploration & Production , Shale Plays

Whiting Petroleum Shares Plunges To Record Low On Production Forecast

Shares of Whiting Petroleum have lost nearly 75% of their value this year amid weak oil prices and rising investor concerns over the company's ability to meet its debt maturities.

February 27, 2020

Earnings , Acquisitions & Divestitures , Gathering & Processing , Pipelines

EQT Revises Gas Transport Contracts, Announces Spending Cuts

Fourth-quarter 2019 losses were not as severe as expected. EQT’s executives stress free cash flow generation over hikes in production.

February 27, 2020

Earnings , Exploration & Production

Apache Reports Surprise Adjusted Profit On Higher Shale Output

Production from the Permian, the largest U.S. oil field and the center of the country’s shale industry, rose 13% to 288,043 barrels of oil equivalent per day (boe/d), while total production rose marginally to 487,202 boe/d.

February 27, 2020

Earnings , Drilling

Seadrill Says Rig Market Recovery Slowing, Debt Talks Continue

Offshore drilling firm Seadrill said on Feb. 27 the recent recovery of rig markets had slowed at the start of 2020, and that discussions with creditors on how to handle its massive debts would continue.

February 27, 2020

Public Capital , Earnings , Exploration & Production , Shale Plays

Continental Resources Shares Fall 15% On Weak 2020 Outlook

Continental, which operates in the Bakken as well as the STACK and SCOOP shale plays, forecast lower-than-expected free cash flow for the year despite keeping capital spending flat.

February 27, 2020

Public Capital , Earnings , Exploration & Production , Shale Plays

Chesapeake Energy 2020 Oil Production Plan Disappoints, Shares Slide

Shale pioneer Chesapeake Energy has been shifting to higher-margin oil production in response to sliding gas prices caused by a global supply glut.

February 26, 2020

Earnings , Shale Plays , Technology

ProPetro’s Board Audit Finds ‘Multiple Material’ Weaknesses

U.S. oilfield services provider ProPetro released preliminary fourth-quarter results on Feb. 24, estimating revenue of between $431 million and $437 million, up slightly from last year.

February 25, 2020