Shell hit record earnings from its vast retail division, despite the impact on demand of the COVID-19 pandemic, which it said continued to generate "significant uncertainty."
The biggest write-downs stem from Equinor's assets in the Bakken shale field in the U.S. and the Mariner heavy oil field off the coast of Britain, the company said on an analysts call without elaborating.
Company blames the size of the project, permit delays and impacts from COVID-19.
ConocoPhillips reported a loss of $500 million, or 42 cents per share, compared with third-quarter 2019 earnings of $3.1 billion, or $2.74 per share.
U.S. oil and gas producer Hess Corp. reported a wider-than-expected loss on Oct. 28 and slightly lowered its full year production forecast, as its operations were affected by hurricanes in the Gulf of Mexico and lower production in South East Asia.
Liberty Oilfield Services reported a smaller-than-expected quarterly loss on Oct. 27 and forecast sequential growth in active frac fleets, as producers restore oil volumes, driven by an uptick in prices.
BP's shares are down more than 50% this year and remain near 25-year lows, battered by weak oil prices and investor concerns about BP's ability to successfully shift to renewable energy from fossil fuels.
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.