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.”
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.
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.
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.
Exxon Mobil could top Wall Street estimates based on its March 31 securities filing, according to brokerage Raymond James & Associates.
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.
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.
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.
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.
YPF is at the heart of Argentina’s efforts to reduce its annual energy deficit and become a net oil exporter.