Oil Price As widely expected, the second-quarter profit of Phillips 66 (NYSE: PSX) came in significantly lower than the year-ago period, but one of the biggest U.S. refiners beat analyst estimates as high capacity utilization and strong midstream and chemicals earnings partially offset weaker refining margins. Phillips 66 reported on Tuesday adjusted earnings of $984 million for the second quarter, down from
Oil Price BP (NYSE: BP) raised its dividend by 10% and extended its buyback program as it booked better-than-expected earnings for the second quarter of the year. The UK-based supermajor reported on Tuesday $2.8 billion in underlying replacement cost profit – the metric closest to net profit – for April to June, up from $2.7 billion for the previous quarter. The earnings
U.S. News HOUSTON – U.S. oil and gas patch deals continued to run hot in the second quarter, topping $30 billion with big dollar tie-ups pushing values higher, according to data released on Tuesday by energy researcher Enverus. Blockbuster mergers, such as ConocoPhillips’ $22.5 billion offer for Marathon Oil, remain a mainstay even as U.S. lawmakers call on regulators to
World Oil (WO) — Post Oak Minerals V, an affiliate of Post Oak Energy Capital LP, has completed 10 acquisitions valued at over $475 million since early 2024, primarily focusing on the Permian basin. The acquisitions include over 28,400 net royalty acres (NRA) of mineral and royalty interests, with 27,400 NRA located in the Permian basin. The remaining assets are
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