Public Capital , Earnings , Shale Plays

Apache Gains $147 Million from Change in Natgas Hedging Before Texas Freeze

Analysts at Cowen & Co. boosted their earnings estimates for Apache due to better-realized pricing, notably in gas that “reflect greater exposure to daily pricing versus bid week.”

April 16, 2021

Public Capital , Earnings , Shale Plays

Permian Shale Producer Diamondback Energy Raises Production Outlook

Diamondback Energy, which closed its acquisition of Denver-based producer QEP Resources last month, also raised its 2021 capex forecast to between $1.6 billion and $1.75 billion versus its previous forecast of $1.35 billion to $1.55 billion.

April 13, 2021

Earnings , Shale Plays , Construction , Pipelines

Phillips 66 Partners Cancels Rockies, Bakken Oil Pipeline Project

The roughly $1.6 billion project, which was proposed to support oil production growth in the Rockies and the Bakken shale regions, had been put on hold more than a year ago.

April 7, 2021

Earnings , Exploration & Production

Shell Sees $200 Million Hit to Earnings from Texas Winter Storm

An extreme cold snap in Texas in February is expected to have shrunk Shell’s oil output by 10,000-20,000 bbl/d and to shave up to $200 million from its adjusted first-quarter earnings.

April 7, 2021

Public Capital , Earnings

Exxon Mobil Signals First Profit in Five Quarters on Price Gains

Exxon Mobil could top Wall Street estimates based on its March 31 securities filing, according to brokerage Raymond James & Associates.

April 1, 2021

Public Capital , Earnings , Health, Safety & Environment , Emissions , Shale Plays

Callon Petroleum Ties Executive Pay to Emissions Reduction Targets

Callon Petroleum, which operates in the Permian Basin and Eagle Ford Shale, is “committed to sustainable and responsible development of our resources by mitigating the risks of climate change,” says President and CEO Joe Gatto.

March 30, 2021

Public Capital , Earnings , Emissions , Shale Plays

Occidental Petroleum Ties Low-carbon Business Targets to CEO Bonus

Occidental Petroleum increased the weight assigned to its emissions reductions and low-carbon ventures unit to 30% of CEO Vicki Hollub’s target bonus, according to its proxy filing.

March 29, 2021

Public Capital , Earnings , Exploration & Production , Shale Plays

Shale Industry’s Dilemma Persists Despite Free Cash Flow Milestone

A cross-section of 30 shale-focused oil and gas producers marked the first full year of positive free cash flows since the fracking boom began—but only after deep cuts to capex that raise troubling questions about the shale industry’s future, analysts say.

March 25, 2021

Public Capital , Private Equity , Earnings

BP CEO Bernard Looney Receives $2.4 Million in 2020 after Bonuses Binned

Bernard Looney’s total remuneration for 2020 could have been up to 11 million pounds (US$15.24 million) based on BP’s remuneration plan, more than the $13.23 million his predecessor earned in 2019.

March 22, 2021

Earnings , Exploration & Production

Argentina's YPF to Invest More Than $300 Million in Santa Cruz Province

YPF is at the heart of Argentina’s efforts to reduce its annual energy deficit and become a net oil exporter.

March 19, 2021