Oil and gas producers in the U.S. continue to report mixed first-quarter results even as crude oil prices rebounded and cash flow improved as production rose.

Houston-based Apache Corp. reported on May 1 adjusted earnings fell to $38 million in the first quarter from $124 million a year ago. The company’s first-quarter adjusted earnings per share of 10 cents was slightly below Street consensus of 12 cents, said Mark Lear, equity analyst with Jefferies LLC.

Laredo Petroleum Inc., a Tulsa, Okla.-based producer which recently reconstructed its management team, reported on May 1 adjusted net income for the first quarter of $27.9 million, down from $57.6 million a year ago. Adjusted EBITDA was $122.9 million.

Marathon Oil Corp., a Houston producer, reported earnings of 31 cents on May 1 beating Street consensus of 7 cents, according to TPH analysts.

Already have an account? Log In

Thanks for reading Hart Energy.

Subscribe now to get unmatched coverage of the oil and gas industry’s entire landscape.

Get Access
Need more than one account? See Group Subscription options