Schlumberger Announces First-Quarter 2017 Results: - Revenue of $6.9 billion decreased 3% sequentially - GAAP EPS, including Cameron integration charges of $0.05 per share, was $0.20 - EPS, excluding Cameron integration charges, was $0.25 - Cash flow from operations was $656 million - Quarterly cash dividend of $0.50 per share was approved
PETROBRAS - Net income of R$ 2,510 million in 4Q16, compared to a loss of R$ 16,458 million in 3Q-2016
Nabors Industries Ltd. ("Nabors") (NYSE: NBR) reported full-year 2016 operating revenue of $2.2 billion, compared to operating revenue of $3.9 billion in the prior year, which included $366 million in revenue from the Completion and Production Services segment (NCPS), a business line that merged with C&J Energy Services, Inc. (CJES) on March 24, 2015 and ceased to be consolidated with Nabors on that date. Net income from continuing operations for the year was a loss of $1.0 billion, or $3.58 per share, compared to a loss of $330 million, or $1.14 per share, in FY 2015. Included in the net loss from continuing operations for full year 2016 were total after-tax impairments and other charges of $487 million, or $1.71 per share, as well as $0.80 per share in Nabors' proportional share of CJES' net loss for the period. This compares to prior year impairments and other charges of $380 million, or $1.31 per share, and $0.29 per diluted share for the company's proportional share of CJES' net loss.
The LUKOIL Group oil production for the fourth quarter and twelve months of 2016 was 22.7 and 92.0 million tonnes, respectively. Production for the fourth quarter excluding compensation crude oil from West Qurna-2 project in Iraq increased by 2.5% compared to the third quarter of 2016.
Highlights • Revenue of $667 million • Operating income of $118 million • EBITDA of $354 million • 99% economic utilization • Reported net income of $127 million and diluted net income per share of $0.26 • Underlying net income, excluding non-recurring items and non-cash mark to market movements on derivatives, was $111 million and earnings per share was $0.24 • Cash and cash equivalents of $1.4 billion • Seadrill Limited order backlog of approximately $2.5 billion
Profit attributable to NOVATEK shareholders increased by more than three-fold to RR 257.8 billion (RR 85.41 per share), as compared to RR 74.4 billion (RR 24.63 per share) in 2015. The amount of profit and its dynamics were significantly impacted by the foreign exchange effect (including at the joint ventures level), as well as the effect of the disposals of interests in joint ventures.
Maersk delivered an unsatisfactory loss of USD 1.9bn (profit of USD 925m) negatively impacted by post-tax impairments of USD 2.8bn (USD 2.6bn) primarily relating to Maersk Drilling of USD 1.4bn (USD 27m) and Maersk Supply Service of USD 1.2bn (USD 0m). In line with the latest guidance provided in November, the under lying profit came at USD 711m (USD 3.1bn). The return on invested capital (ROIC) was negative 2.7% (positive 2.9%). The free cash flow was negative USD 29m (positive USD 6.6bn including the sale of shares in Danske Bank of USD 4.9bn).
‘‘Suncor generated $2.4 billion in cash in the fourth quarter thanks to strong contributions from all of our assets and our focus on cost management,’’ said Steve Williams, president and chief executive officer. ‘‘Reliable performance throughout the year has helped us overcome challenging crude pricing and the major production outage associated with the Fort McMurray forest fires, resulting in annual cash flow significantly exceeding our annual sustaining capital and dividend commitments.’’
For the full year of 2016 the RC loss was $999 million, compared with a loss of $5,162 million for the full year of 2015. Both periods were impacted by charges associated with the Deepwater Horizon accident and oil spill following the settlement of federal, state and local government claims in 2015 and additional provisions this year, when a reliable estimate for the remaining material liabilities was determined. After adjusting for a net charge for non-operating items of $2,828 million and net unfavourable fair value accounting effects of $756 million (both on a post-tax basis), underlying RC profit for the full year was $2,585 million, compared with $5,905 million for the same period in 2015, predominantly due to lower results in the Upstream and Downstream segments.
National Oilwell Varco, Inc. (NYSE: NOV) reported a fourth quarter 2016 net loss of $714 million, or $1.90 per share. Excluding other items, net loss for the quarter was $57 million, or $0.15 per share. Other items totaled $706 million, pretax, and were primarily associated with inventory charges, facility closures, and severance.
Full-year 2016 earnings were a net loss of $3.6 billion, or ($2.91) per share, compared with a full-year 2015 net loss of $4.4 billion, or ($3.58) per share. Excluding special items, full-year 2016 adjusted earnings were a net loss of $3.3 billion, or ($2.66) per share, compared with a full-year 2015 adjusted net loss of $1.7 billion, or ($1.40) per share.
Weatherford International plc (NYSE: WFT) reported a net loss of $549 million, or a loss of $0.59 per share, and non-GAAP net loss of $303 million before charges and credits ($0.32 non-GAAP loss per share) on revenues of $1.41 billion for the fourth quarter of 2016.
Royal Dutch Shell’s fourth quarter 2016 CCS earnings attributable to shareholders were $1.0 billion compared with $1.8 billion for the same quarter a year ago. Full year 2016 CCS earnings attributable to shareholders were $3.5 billion compared with $3.8 billion in 2015.
Exxon Mobil Corporation today announced estimated 2016 earnings of $7.8 billion, or $1.88 per diluted share. An asset recoverability review was completed in the fourth quarter and resulted in a U.S. Upstream asset impairment charge of about $2 billion mainly related to dry gas operations with undeveloped acreage in the Rocky Mountains region of the U.S. Excluding the impairment charge, full year earnings were $9.9 billion compared with $16.2 billion a year earlier, reflecting lower commodity prices and refining margins.
Chevron's full-year 2016 results were a loss of $497 million ($0.27 per share – diluted) compared with earnings of $4.6 billion ($2.45 per share – diluted) in 2015.