Flying J Oil, Inc., a privately-held oil company headquartered in Ogden, Utah, filed for bankruptcy protection under Chapter 11 on December 22nd. The company owns and operates more than 250 retail outlets…
It’s no longer news when an oil E&P company cuts its capex budget. As oil prices fall, profits are squeezed and companies rein in discretionary spending, of which capex is a principle…
When Chevron (NYSE:CVX) swallowed Texaco a few years back, one of the morsels it ingested was a claim for environmental damage to several Texaco drilling sites in Ecuador. Unlike Chevron’s recent exoneration…
Douglas A. McIntyre According to Reuters, US car sales are expected to be down sharply for November. Reuters reports that the global recession is hurting Asian factories. Reuters reports that the GM (GM) board is…
About two and a half years ago when crude oil prices were heading up at a pace never before seen, the Saudi Arabian oil minister claimed that there was plenty of oil,…
Before the market opened this morning, Devon Energy (NYSE:DVN) reported third quarter net income of $2.6 billion (EPS of $5.92) on revenue of $5.99 billion. After backing out a non-cash gain from…
Today we got earnings from oil giant Chevron Corp. (NYSE: CVX). The company posted earnings of $7.89 billion for the quarter, which translates to $3.85 per share. That is well above the…
Douglas A. McIntyre These are some of the top analyst pre-market upgrades we are seeing early this Monday morning: Anadarko Petroleum (APC) Raised to Outperform at Oppenheimer. Apache (APA) Raised to Outperform at Oppenheimer. Applied…
Analysts assume third quarter earnings for the companies in the S&P 500 will be bad. But, looking at the number which is the average of all firms in the index is misleading.…
Yesterday’s interim update report from Chevron (NYSE:CVX) came out pretty much as we expected. The company projects significant improvement in downstream earnings and a drop in upstream earnings. Hurricanes in the Gulf…
Douglas A. McIntyre After the market closes today Chevron (NYSE:CVX) is releasing its interim update for the third quarter of 2008. Typically these updates paint a pretty accurate picture of what investors can expect from…
Marathon Oil (NYSE:MRO) today gave an interim update on its third quarter performance. The company will announce earnings on October 30th. Production is expected to be up by about 34,000 barrels of…
Jim Cramer wants people to sell all of their stocks. Even though the market may keep falling, that might not be a practical solution for everyone. There are several things investors can…
Energy companies are focusing on just a couple of things as they head into earnings season. First is debt and financing; second is production, especially for those companies who suffered from Hurricanes…
It’s no secret that share prices for big oil are down over the past 12 months. These oil giants have fallen sharply from highs when oil was in the $140’s per barrel. …
