Oil and gas producer Occidental Petroleum said on Aug. 3 adjusted profit attributable to common stockholders stood at $311 million, or 32 cents per share, for the three months ended June 30.
Upon completion of the transaction, a new company—HF Sinclair Corp.—will replace HollyFrontier as the public company trading on the New York Stock Exchange.
The strong results, underpinned by higher sales at petrol stations, bolster BP’s plan to shift away from oil and gas to renewable and low-carbon energy, CEO Bernard Looney told Reuters.
Plano, Texas-based Vine Energy aims to become the first natural gas producer in the Haynesville Basin to certify 100% of its assets as “responsibly sourced” through an agreement with Project Canary.
While Diamondback Energy and Continental Resources beat Wall Street profit estimates, Pioneer Natural Resources only met expectations, but declared an inaugural variable dividend to be paid during the third quarter.
Separately, Chevron announced the retirement of Joe Geagea, executive vice president of technology, projects and services who retires with 40 years of service at the U.S. oil major.
The deal marks a major milestone in Spartan's Montney consolidation strategy and brings the company closer to achieving its previously stated objective of production growth to 100,000 boe/d, says Spartan CEO Fotis Kalantzis.
Exxon Mobil’s quarterly earnings results highlighted how oil producers are taking advantage of a recovery in oil prices to cut debt and boost shareholder payouts rather than spending more to raise production
Lower costs and higher prices generated the highest cash flow in two years, enabling Chevron to pare debt and resume share repurchases, company executives said.