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Oil&Gas

Oil&Gas
2016, May, 5, 18:20:00
NOBLE NET LOSS $287 MLN
David L. Stover, Noble Energy's Chairman, President and CEO, commented, "We are off to a solid start this year and have made substantial progress on our goals for 2016. Our high-quality and diverse portfolio is delivering strong results, giving us the confidence to lower our full year capital and cost outlook while raising volumes substantially. We have aligned our business within cash flows and are continuing to protect our investment-grade balance sheet. Significant capital efficiency gains and outstanding operating performance, combined with robust liquidity, position us well in any price scenario."
Oil&Gas
2016, May, 5, 18:15:00
WEATHERFORD NET LOSS $498 MLN
Revenue for the first quarter of 2016 was $1.59 billion compared with $2.01 billion in the fourth quarter of 2015 and $2.79 billion in the first quarter of 2015. First quarter revenues declined 21% sequentially and 43% from the prior year. The sequential decline was 22% in North America and 21% for International operations. Product sales declined 30% sequentially, while service and rental revenue decreased by 16%. The product sales decline was as much seasonal as cyclical and most impacted the Eastern Hemisphere.
Oil&Gas
2016, May, 5, 18:10:00
ANADARKO NET LOSS $1 BLN
HOUSTON, May 2, 2016 -- Anadarko Petroleum Corporation (NYSE: APC) announced its financial and operating results for the first quarter of 2016, including a net loss attributable to common stockholders of $1.034 billion, or $2.03 per share (diluted). The net loss includes certain items typically excluded by the investment community in published estimates, which in the aggregate decreased net income by $465 million or $0.91 per share (diluted) on an after-tax basis.(1) Net cash used in operating activities in the first quarter of 2016 was $137 million. Discretionary cash flow from operations totaled $486 million
Oil&Gas
2016, May, 5, 18:05:00
HALLIBURTON VS U.S.: SENSELESSLY
Halliburton’s chief executive has blamed an increasingly difficult US regulatory climate for the collapse of his company’s $28bn bid for rival Baker Hughes, which was abandoned on Sunday.
Oil&Gas
2016, May, 5, 18:00:00
HALLIBURTON NET LOSS $2.4 BLN
HOUSTON – May 3, 2016 - Halliburton Company (NYSE:HAL) announced that income from continuing operations for the first quarter of 2016 was $64 million, or $0.07 per diluted share, excluding special items. This compares to income from continuing operations for the fourth quarter of 2015 of $270 million, or $0.31 per diluted share, excluding special items. Adjusted operating income was $225 million in the first quarter of 2016, compared to adjusted operating income of $473 million in the fourth quarter of 2015. Halliburton's total revenue in the first quarter of 2016 was $4.2 billion, compared to $5.1 billion in the fourth quarter of 2015.
Oil&Gas
2016, May, 3, 15:10:00
HALLIBURTON & BAKER HUGHES TERMINATION
“While both companies expected the proposed merger to result in compelling benefits to shareholders, customers and other stakeholders, challenges in obtaining remaining regulatory approvals and general industry conditions that severely damaged deal economics led to the conclusion that termination is the best course of action,”
Oil&Gas
2016, May, 3, 14:55:00
THREE FACTORS OF BP
BP’s own forecast shows global energy demand rising one-third higher by 2035 than it is today, which would be like adding the total combined energy demand of the US, the European Union, and Japan. And it’s BP’s expectation that more than half of this demand will be met by oil and gas by 2035.
Oil&Gas
2016, May, 3, 14:45:00
EXXON NET INCOME DOWN 63%
Exxon Mobil Corporation (NYSE:XOM) announced estimated first quarter 2016 earnings of $1.8 billion, or $0.43 per diluted share, compared with $4.9 billion a year earlier. The impacts of sharply lower commodity prices and weaker refining margins were partly offset by strong Chemical results.
Oil&Gas
2016, May, 3, 14:40:00
CONOCO NET LOSS $1.5 BLN
ConocoPhillips (NYSE: COP) reported a first-quarter 2016 net loss of $1.5 billion, or ($1.18) per share, compared with first-quarter 2015 earnings of $272 million, or $0.22 per share. Excluding special items, first-quarter 2016 adjusted earnings were a net loss of $1.2 billion, or ($0.95) per share, compared with a first-quarter 2015 adjusted net loss of $222 million, or ($0.18) per share.
Oil&Gas
2016, May, 3, 14:35:00
CHEVRON NET LOSS $725 MLN
San Ramon, Calif., April 29, 2016 – Chevron Corporation (NYSE: CVX) reported a loss of $725 million ($0.39 per share – diluted) for first quarter 2016, compared with earnings of $2.6 billion ($1.37 per share – diluted) in the 2015 first quarter. Foreign currency effects decreased earnings in the 2016 quarter by $319 million, compared with an increase of $580 million a year earlier. Sales and other operating revenues in first quarter 2016 were $23 billion, compared to $32 billion in the year-ago period.
Oil&Gas
2016, May, 3, 14:30:00
SEADRILL NET LOSS $750 MLN
Seadrill generated EBITDA of $513 million for the fourth quarter 2015 Current order backlog of $5.1 billion $10.7 billion for Seadrill Group
Oil&Gas
2016, May, 3, 14:20:00
U.S. RIGS DOWN 11
U.S. Rig Count is down 11 rigs from last week to 420, with oil rigs down 11 to 332, gas rigs down 1 to 87, and miscellaneous rigs up 1 to 1. Canadian Rig Count is down 3 rigs from last week to 37, with oil rigs down 2 to 10, gas rigs down 1 to 26, and miscellaneous rigs unchanged at 1.
Oil&Gas
2016, April, 28, 20:00:00
GAZPROM & PETROVIETNAM COOPERATION
The parties focused, inter alia, on the exploration activities in blocks 112 and 129–132 and the joint development of the Moc Tinh and Hai Thach fields. It was noted that the construction of 12 production wells, three production platforms, a floating hydrocarbon storage terminal, and a submarine pipeline system had been completed at these fields. The total accumulated production from the Moc Tinh and Hai Thach fields since its launch in 2013 has now reached 4.5 billion cubic meters of gas and 1.1 million tons of gas condensate.
Oil&Gas
2016, April, 28, 19:40:00
BAKER HUGHES NET LOSS $981 MLN
"During the quarter, the industry faced another precipitous decline in activity, exceeding even the most pessimistic predictions, as E&P companies further cut spending in an effort to protect cash flows," said Martin Craighead, Baker Hughes Chairman and Chief Executive Officer. "As a result of this steep decrease in customer spending, our revenue for the first quarter was down 21% sequentially. Compared to the prior year, revenue declined 42%, driven by lower activity as evident by the 41% global rig count drop, reduced pricing across most markets, and the strategic decision to continue limiting our exposure to unprofitable onshore pressure pumping business in North America.
Oil&Gas
2016, April, 28, 19:35:00
VARCO NET LOSS $119 MLN
National Oilwell Varco, Inc. (NYSE:NOV) reported a first quarter 2016 net loss of $21 million, or $0.06 per share, excluding other items. Other items included $147 million in pre-tax charges primarily associated with severance and facility closure costs. GAAP net loss for the quarter was $119 million, or $0.32 per share.