2017, August, 9, 09:51:00TESCO NET LOSS $25.8 MLN
TESCO reported a U.S. GAAP net loss of $12.1 million, or $(0.26) per share, in the second quarter of 2017. Adjusted net loss for the quarter was $11.6 million, or $(0.25) per share, excluding special items, consisting primarily of charges related to restructuring costs. This compares to a U.S. GAAP net loss of $13.7 million, or $(0.29) per diluted share, in the first quarter of 2017, and a U.S. GAAP net loss of $18.9 million, or (0.47) per diluted share, in the second quarter of 2016. Adjusted net loss in the first quarter of 2017 was $13.4 million, or $(0.29) per diluted share, and in the second quarter of 2016 was $15.8 million, or $(0.39) per diluted share.
2017, August, 7, 08:45:00U.S. RIGS DOWN 4 TO 954
U.S. Rig Count is up 490 rigs from last year's count of 464, with oil rigs up 384, gas rigs up 108, and miscellaneous rigs down 2 to 0. Canadian Rig Count is up 95 rigs from last year's count of 122, with oil rigs up 64, gas rigs up 33, and miscellaneous rigs down 2 to 0.
2017, August, 3, 12:10:00CANADIAN DRILLING UP
The Petroleum Services Association of Canada (PSAC) has updated its 2017 Canadian Drilling Activity Forecast to reflect an increase in its projected total number of wells to be drilled during the year to 7,200 from 6,680.
2017, August, 3, 09:21:00NABORS NET LOSS $282 MLN
Nabors Industries Ltd. ("Nabors" or the "Company") (NYSE: NBR) reported second quarter 2017 operating revenues of $631 million, compared to operating revenues of $563 million in the prior quarter. Net income from continuing operations attributable to Nabors for the quarter was a loss of $117 million, or $0.41 per diluted share, compared to a loss of $149 million, or $0.52 per diluted share, in the first quarter of 2017. The second quarter results include $7.3 million in net after-tax charges, or $0.03 per diluted share, primarily due to premiums paid on a debt redemption.
2017, August, 1, 12:20:00TRANSCANADA'S NET INCOME $881 MLN
TransCanada Corporation (TSX, NYSE: TRP) (TransCanada or the Company) announced net income attributable to common shares for second quarter 2017 of $881 million or $1.01 per share compared to net income of $365 million or $0.52 per share for the same period in 2016. Comparable earnings for second quarter 2017 were $659 million or $0.76 per share compared to $366 million or $0.52 per share for the same period in 2016. TransCanada's Board of Directors also declared a quarterly dividend of $0.625 per common share for the quarter ending September 30, 2017, equivalent to $2.50 per common share on an annualized basis.
2017, July, 31, 14:25:00U.S. GDP UP 2.6%
Real gross domestic product increased at an annual rate of 2.6 percent in the second quarter of 2017 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 1.2 percent (revised).
2017, July, 31, 14:00:00U.S. RIGS UP 8 TO 958
U.S. Rig Count is up 495 rigs from last year's count of 463, with oil rigs up 392, gas rigs up 106, and miscellaneous rigs down 3 to 0. Canadian Rig Count is up 101 rigs from last year's count of 119, with oil rigs up 69, gas rigs up 33, and miscellaneous rigs down 1 to 0.
2017, July, 28, 10:00:00U.S. - CHINA OIL RECORD
China's import of US crude oil crossed 1 million mt for the first time in June, an eight-fold rise year on year, as elevated Dubai prices prompted both state and independent refiners to use it as an opportunity to diversify supplies, a trend that could add to the headache of OPEC suppliers.
2017, July, 28, 09:30:00U.S. FEDERAL FUNDS RATE 1.25%
In view of realized and expected labor market conditions and inflation, the Committee decided to maintain the target range for the federal funds rate at 1 to 1-1/4 percent. The stance of monetary policy remains accommodative, thereby supporting some further strengthening in labor market conditions and a sustained return to 2 percent inflation.
2017, July, 17, 14:05:00U.S. & RUSSIA: LIMITED IMPACT
The U.S. shale boom—which reshaped world markets for crude oil and natural gas before Mr. Trump took office—has only limited impact on Russia’s standing as a major energy provider to Europe and Asia.
2017, July, 17, 14:00:00U.S. DRILLING UP 62%
API announced that estimated total wells drilled and completed in the second quarter of 2017 increased 62 percent compared to the second quarter of 2016. This includes a 41 percent increase in estimated development gas well completions and a dramatic 81 percent increase in total estimated oil well completions from year-ago levels. Total estimated oil well completions also increased 19 percent from the first quarter of 2017. Growing well completion figures could lead to an increase in U.S. oil production, which rose 62 percent from 2010 to 2016, and U.S. natural gas production which, also increased 26 percent during the same time.
2017, July, 17, 13:55:00U.S. FRB: INDUSTRIAL PRODUCTION UP 0.4%
Industrial production rose 0.4 percent in June for its fifth consecutive monthly increase. Manufacturing output moved up 0.2 percent; although factory output has gone up and down in recent months, its level in June was little different from February. The index for mining posted a gain of 1.6 percent in June, just slightly below its pace in May. The index for utilities, however, remained unchanged. For the second quarter as a whole, industrial production advanced at an annual rate of 4.7 percent, primarily as a result of strong increases for mining and utilities. Manufacturing output rose at an annual rate of 1.4 percent, a slightly slower increase than in the first quarter. At 105.2 percent of its 2012 average, total industrial production in June was 2.0 percent above its year-earlier level. Capacity utilization for the industrial sector increased 0.2 percentage point in June to 76.6 percent, a rate that is 3.3 percentage points below its long-run (1972–2016) average.
2017, July, 17, 13:30:00U.S. RIGS UNCHANGED
U.S. Rig Count is up 505 rigs from last year's count of 447, with oil rigs up 408, gas rigs up 98, and miscellaneous rigs down 1 to 0. Canadian Rig Count is up 96 rigs from last year's count of 95, with oil rigs up 62, gas rigs up 35, and miscellaneous rigs down 1 to 0.
2017, July, 14, 09:35:00U.S. OIL DEBT
From 2012 through the end of 2015, debt was a significant source of capital for the producers included in the analysis, with the addition of a cumulative $55.3 billion in net debt. Since the beginning of 2016, however, these producers have reduced debt by $1.4 billion. The combination of higher equity and lower debt has resulted in the long-term debt-to-equity ratio, a measure of financial leverage, declining from 88% to 80% for the group of companies as a whole between the first quarter of 2016 and the first quarter of 2017.
2017, July, 7, 07:40:00SHALE GAS DRILLING UP
One big reason is that natural gas prices have recovered from 20-year lows, nearly doubling since last year, according to S&P Global Market Intelligence.