Earnings

Public Capital , Earnings , Emissions

BP Halves Dividend after Record Loss, Speeds Up Low-carbon Reinvention

BP last reduced its dividend in 2010, when it was suspended for three quarters following the deadly Deepwater Horizon rig explosion.

August 4, 2020

Earnings , Pipelines

MPLX: DAPL, Tesoro High Plains Closures Could Cut Earnings by $100 Million

Company has a 9% stake in DAPL and owns Tesoro High Plains outright.

August 3, 2020

Public Capital , Earnings , Exploration & Production , Shale Plays

Continental Resources Posts Second Straight Quarterly Loss

U.S. shale producer Continental Resources Inc. on Aug. 3 posted a bigger-than-expected second-quarter loss as the coronavirus crisis and related lockdowns pummeled demand.

August 3, 2020

Public Capital , Earnings , Exploration & Production , Shale Plays

Diamondback Energy Posts Second-quarter Loss on $2.54 Billion Charge

Diamondback Energy also decreased its cash operating costs “dramatically” in the second quarter, according to CEO Travis Stice, some of which he expects to become permanent.

August 3, 2020

Public Capital , Earnings , Unconventional , Field Development , Shale Plays

Exxon Mobil, Chevron Adjust in Permian Basin amid Market Volatility

The supermajors are focused on specific developments and improving efficiency in the Permian Basin as market conditions recover.

July 31, 2020

Earnings , Midstream

Brazil’s Petrobras Posts $500 Million Loss Despite Record Exports to China

Falling oil prices hurt company as it pursues a volume-over-price strategy.

July 31, 2020

Earnings , Midstream

Magellan Midstream Sees Lower Fuel Pipeline Volumes for Rest of 2020

Expansion projects are continuing and some have come online.

July 31, 2020

Earnings , Midstream

Phillips 66 Posts Quarterly Loss as Pandemic Slams Fuel Demand

U.S. refiner Phillips 66 on July 31 reported a quarterly loss compared to a year-ago profit, as coronavirus-led restrictions on businesses and travel destroyed fuel demand and hurt margins.

July 31, 2020

Earnings , Exploration & Production

Exxon Mobil Posts Second Straight Quarterly Loss on Demand, Price Plunge

The U.S. oil major reported a loss of $1.08 billion, or 26 cents per share, in the three months ended June 30.

July 31, 2020

Earnings , Exploration & Production

Chevron Posts $8.3 Billion Q2 Loss on Writedowns, Job Cuts

Chevron wrote down its oil and gas production properties by $5.6 billion, including its entire investment in crisis-ravaged Venezuela.

July 31, 2020