(Oil Price) – BP (NYSE: BP) booked third-quarter earnings above analyst expectations, although the profit was lower from a year earlier and the second quarter amid weaker oil prices and low refining margins. BP reported on Tuesday an underlying replacement cost (RC) profit – its key earnings metric closest to net profit – of $2.3 billion for the third quarter, down by 30%
Oil and Gas 360 DALLAS, Aug. 30, 2024 (GLOBE NEWSWIRE) — Berry Corporation (bry) (NASDAQ: BRY) (“Berry” or the “Company”) is reaffirming its strong liquidity position consisting of $94 million of available borrowing capacity under its reserve-based lending (“RBL”) facility and $11 million of cash as of August 23, 2024, as well as its expectation of significant free cash flow
Oil Price Cheniere Energy (NYSE: LNG) booked a 36% decline in its second-quarter earnings compared to a year ago, due to lower margins for delivered LNG cargoes. Cheniere Energy, the biggest U.S. LNG exporter, reported on Thursday a net income of $880 million for the second quarter, down from $1.37 billion for the same period of 2023. Half-year net income slumped by
BOE Report Exxon Mobil on Friday posted a better-than-expected $9.2 billion second-quarter profit based on rising output from its purchase this year of shale oil firm Pioneer Natural Resources. Higher profit “was driven by record production both in Guyana and in the Permian,” which offset lower natural gas and fuel prices, Chief Financial Officer Kathryn Mikells said. Net income was $9.24
U.S. News Dominion Energy posted a fall in second-quarter profit on Thursday, as higher interest and maintenance costs weighed on the electric utility. Higher-for-longer interest rates continue to weigh on the utilities sector, making dividend-paying stocks such as REITs and utilities less attractive and driving up borrowing costs. The company’s interest expenses rose to $469 million in the second quarter,
Oil Price Hess Corp. (NYSE:HES) has posted an impressive second-quarter earnings report with its stake in prolific Guyana helping it exceed estimates. Hess reported Q2 2024 non-GAAP EPS of $2.62, beating the Wall Street consensus by $0.07 while revenue of $3.26B was good for a robust 40.5% Y/Y growth although it missed the consensus by $30M. The company saw a large increase in
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
Yahoo Finance NEW YORK – U.S. oil refiners are expected to report sharply lower second quarter earnings from a year ago after a listless summer driving season that weakened refining margins, energy analysts said. Refiners ramped up processing capacity in the three months ended June 30 to 93.5%, compared with 91% in the prior-year period, to meet an expected spike
Oil and Gas 360 Publisher’s Note: Chris Wright, Chief Executive Officer of Liberty Energy will be a lunch keynote speaker at EnerCom Denver- The Energy Investment Conference this coming August 18-21, 2024. Register to attend. July 16, 2024 DENVER–(BUSINESS WIRE)– Liberty Energy Inc. (NYSE: LBRT; “Liberty” or the “Company”) announced today that its Board of Directors (the “Board”) has declared
Oil Price Shares in BP fell by as much as four percent this morning after it warned it was expected to post an impairment of up to $2bn (1.6bn) and was operating under “significantly” lower refining margins. The FTSE 100 oil major, which in April surprised investors with a better-than-expected oil and gas trading performance in the first three months of
Oil and Gas 360 Publisher’s Note: Ring Energy will be a presenter at EnerCom Denver-The Energy Investment Conference on August 18-21, 2024. Register to attend and book your room at the Westin Denver Downtown. REAFFIRMS BORROWING BASE AT $600 MILLION THE WOODLANDS, Texas, July 08, 2024 (GLOBE NEWSWIRE) — Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”)
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