Public Capital

Public Capital , Earnings , Shale Plays

Occidental Petroleum Swings to Profit in Second Quarter

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.

August 3, 2021

Public Capital , Acquisitions & Divestitures , Midstream

HollyFrontier to Acquire Sinclair Oil Assets in $2.6 Billion Deal

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.

August 3, 2021

Public Capital , Earnings , Energy Transition

BP Boosts Payouts after Second-quarter Profit Jump

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.

August 3, 2021

Public Capital , Energy Transition , Shale Plays

Vine Energy Aims for Haynesville First through RSG Partnership

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.

August 2, 2021

Public Capital , Earnings , Exploration & Production , Shale Plays

Diamondback, Continental, Pioneer’s Earnings Lifted by Higher Oil Prices

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.

August 2, 2021

Public Capital , People , Technology

Chevron Promotes CTO Eimear Bonner to Leadership Team

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.

August 2, 2021

Public Capital , Technology

Baker Hughes to Buy Back $2 Billion in Shares

The move by Baker Hughes comes as oil and gas companies keep their focus on shareholder returns over spending to expand production, even as crude prices climb to their highest levels since 2018.

July 30, 2021

Public Capital , Shale Plays , Acquisitions & Divestitures , Mergers

Spartan Delta Set to Become Largest Montney Producer after Latest Deal

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.

July 30, 2021

Public Capital , Earnings

Exxon Mobil Posts Biggest Quarterly Profit in a Year

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

July 30, 2021

Public Capital , Earnings

Chevron Joins Share Buyback Stampede as Profit Tops Estimates

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.

July 30, 2021