Earnings

Earnings , Exploration & Production

Noble Energy to Curtail Production, Beats 1Q Profit

Noble said it will curtail 5,000 bbl/d to 10,000 bbl/d in May and 30,000 bbl/d to 40,000 bbl/d in June from the company’s U.S. onshore assets.

May 8, 2020

Public Capital , Earnings , Exploration & Production

Murphy Oil Moves HQ to Houston after ‘Unprecedented’ Oil Price Collapse

The move means shuttering its legacy headquarters office in El Dorado, Ark., where Murphy Oil was formed by its namesake in 1944.

May 7, 2020

Public Capital , Earnings , Exploration & Production , Shale Plays

Shale Producer EOG Resources to Shut Existing Wells

EOG currently plans to bring about 485 net wells on to production for 2020 compared with the original forecast of 800 net wells, with a focus on the Delaware Basin in the Permian and South Texas Eagle Ford.

May 7, 2020

Earnings , Exploration & Production

Hess Sees No Production Shut-ins on Hedges, Storage Capacity

The company said that in 2020 about 80% of its production is hedged with put options for 130,000 barrels per day at $55 per barrel West Texas intermediate (WTI) crude, and 20,000 barrels per day at $60 per barrel Brent.

May 7, 2020

Public Capital , Earnings , Exploration & Production , Shale Plays

Apache Posts Quarterly Loss as Value of Oil Assets Drops

Apache Corp. has evaluated its wells and is taking a "targeted approach" to shut-ins and curtailing output, CEO John Christmann said.

May 7, 2020

Public Capital , Earnings , Exploration & Production , Shale Plays

Marathon Oil, Pioneer Rush to Save Cash as Oil Slump Bites

Marathon Oil Corp. and Pioneer Natural Resources Co. on May 6 detailed new plans to cut costs, as the U.S. oil producers seek ways to overcome a slump in crude prices.

May 6, 2020

Earnings , Pipelines

Plains Takes $3.2 Billion Charge in First Quarter

Company blames oil price slump due to coronavirus.

May 6, 2020

Public Capital , Earnings , Exploration & Production , Shale Plays

Occidental, Devon Energy Post Quarterly Losses on Billion-dollar Charges

Both Occidental Petroleum and Devon Energy also announced plans on May 5 to deepen cuts for the third time since March in response to the historic crash of oil prices.

May 5, 2020

Earnings , Exploration & Production , Shale Plays

Shale Producers Diamondback, Parsley Energy to Cut May Oil Output

Diamondback Energy and Parsley Energy topped Wall Street profit estimates on May 4 and said they plan to cut expected oil output this month as the shale producers battle an unprecedented slump.

May 4, 2020

Earnings , Subsea

Oceaneering Cuts Executive Salaries

Oceaneering International Inc. said May 4 that, consistent with its commitment to cost reductions during the ongoing public health and energy market crises, its board of directors has approved voluntary base salary reductions of the executive management team and other members of senior management, effective as of May 1, 2020.

May 4, 2020