Devon Results Hit by Big Drop in Asset Values (DVN)
Devon Energy Corp. (NYSE:DVN) reported a net loss for its fourth quarter of $6.8 billion (EPS of -$15.42), and a net loss for the year of $2.1 billion (EPS of -$4.85). Anyone who is…
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Newest first · Page 465Good News in Oil Field Services Continues (NOV, HAL, WFT, SLB)
National Oilwell Varco Inc. (NYSE:NOV) reported a solid beat of analysts’ estimates for the fourth quarter. After last week’s surprising earnings from Halliburton Co. (NYSE:HAL) and Weatherford International Limited (NYSE:WFT), National Oil Well Varco’s…
XTO Cuts 2009 Capital Spending and Resets Hedges (XTO)
XTO Energy Inc. (NYSE:XTO) has cut its 2009 capital spending budget from $3.8 billion to $3.2 billion. Development and exploration expenses are now expected at $2.75 billion and pipeline construction is set at $450…
Marathon Takes Loss on Oil Sands Charge (MRO)
Marathon Oil Corporation (NYSE:MRO) this morning reported a net loss of -$41 million (EPS of -$0.06) on revenue of $14.8 billion for the fourth quarter of 2008. Adjusted income, which excludes certain items including…
BP, Gushing at First Glance (BP)
BP plc (NYSE:BP) announced its quarterly and annual results this morning. The company lost $3.34 billion in the quarter. That is on items as the company’s earnings per ADS totaled $0.84 (one ADS is…
Anadarko Tries Clawing In (APC)
Anadarko Petroleum Corp. (NYSE:APC) is reacting to bits of news, one in discovery and one in earnings. The company just yesterday reported a "substantial oil discovery" in the deepwater Gulf of Mexico. The company…
3M Joins the Renewable Energy Parade (MMM)
The 3M Company (NYSE:MMM) announced this morning that it was launching a new Renewable Energy Division. The division includes two business, Energy Generation and Energy Management. The Energy Generation business focuses on 3M products…
LNG Imports Rising?
Houston-based Waterborne Energy Inc. has long kept a close watch on liquified natural gas (LNG) and liquid petroleum gas (LPG) industries. The company monitors shipping movement around the world, and this morning the company…
Coal is Hot (ACI, CNX, BTU)
This morning’s quarterly and annual results from Arch Coal, Inc. (NYSE:ACI) have kept the coal fires burning. Arch reported EPS of $2.45 on net income of $354.3 million for the year. Annual revenues hit…
Smith International Sinks on (SII, SLB, HAL, BHI, WFT)
Smith International, Inc. (NYSE:SII) led the parade of oil field services stocks downhill yesterday. Smith opened Thursday more than $1.50/share lower than Wednesday’s close and finished the day even lower. Schlumberger Limited (NYSE:SLB), Baker…
Big Oil Gets Sober On Earnings & Revenues (XOM, CVX)
This morning, we got see two of the "biggest of the big" in the Big Oil complex report earnings. You are seeing much more conservative earnings from Exxon Mobil Corp. (NYSE: XOM) and Chevron…
Whiting Petroleum Raises Cash (WLL)
It looks like we have more offerings coming to market, or at least more and more are being contemplated. Whiting Petroleum Corporation (NYSE: WLL) announced that its secondary offering for 8 million shares of…
Are Analyst Downgrades Of Exxon Justified Ahead of Earnings? (XOM, COP)
Exxon Mobil Corporation (NYSE:XOM) is set to report earnings tomorrow morning. With what has happened to the price of oil over the last 6 months, it is with some surprise that shares of many…
Oil Companies & Earnings, Up & Down (MUR, HES, COP)
Murphy Oil Corp. (NYSE:MUR), like other oil companies has been hit hard by declining oil prices. Yesterday, the company posted EPS of $0.83 for the quarter, down from $1.07 EPS a year earlier. Analysts…
OPEC Ready To Take Crude Prices To The Mat
After months of false starts, OPEC claims it is ready to drop production far enough to pull more money out of the pockets of the oil-consuming nations. The cartel has been humiliated more than…