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.
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.
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.
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.
Halliburton still beat analyst estimates earning 11 cents a share versus expectations of 8 cents per share.
Total revenue plunged 38% to $5.26 billion.
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.
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.
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.
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.