Saturday, January 11, 2025
BP beats first-quarter estimates on stronger commodity prices; plans to resume share buybacks- oil and gas 360

BP beats first-quarter estimates on stronger commodity prices; plans to resume share buybacks

CNBC LONDON — British energy major BP on Tuesday reported better-than-expected earnings for the first quarter, following a period of stronger commodity prices and a brighter demand outlook. It comes as oil and gas majors seek to prove to investors that they have gained a more stable footing amid the ongoing coronavirus crisis. BP’s first-quarter underlying replacement cost profit, used as a proxy

ConocoPhillips resumes share buybacks, promises capital discipline- oil and gas 360

ConocoPhillips resumes share buybacks, promises capital discipline

Reuters ConocoPhillips said on Wednesday it has resumed its share buyback program and pledged to keep spending flat even as oil prices climbed, the latest U.S. energy firm to embrace investor returns over production growth. Despite the uptick in crude prices, oil companies are expected to largely limit spending to marginally higher as investors reward companies showing capital discipline after

ConocoPhillips forecasts smaller-than-expected loss, to resume buybacks- oil and gas 360

ConocoPhillips forecasts smaller-than-expected loss, to resume buybacks

Reuters ConocoPhillips COP.N on Wednesday forecast a smaller-than-expected quarterly adjusted loss and said it would resume buying back its shares after a historic collapse in crude prices forced the U.S. oil and gas producer to halt the program in April. Oil companies were forced to slash dividends, halt buybacks and curtail production earlier this year as the COIVD-19 crisis hammered energy demand,

What should oil companies do with their cash?- oil and gas 360

What should oil companies do with their cash?

Forbes After the oil industry’s worst quarter in history, companies are taking a variety of approaches towards their finances, and getting a variety of advice and criticism from the pundits and media. Saudi Aramco’s decision to maintain its dividend has been called in question, as the Wall Street Journal’s Rochelle Toplensky notes that dividend discipline might not be enough to make

Saudi Aramco to use cash and debt to uphold dividends pledge amid reports of job cuts

CNBC Saudi Aramco maintained its pledge to make good on its dividend payments, saying Thursday that it would mobilize cash and debt to fulfill the $18.75 billion payouts for the first quarter of this year despite taking a hit from the coronavirus pandemic and lower oil prices. “It will be a combination of both,” Aramco CEO Amin Nasser told press during

Big Oil investors to look past earnings pain and focus on dividends- oil and gas 360

Big Oil investors to look past earnings pain and focus on dividends

Reuters LONDON/HOUSTON – Investors already braced for poor first-quarter earnings from major oil and gas companies next week will focus on how executives plan to save cash and whether they will cut dividends following the collapse in oil prices. The five biggest U.S. and European firms, known as the Oil Majors, have announced spending cuts averaging 23% in a rapid

Berkshire Hathaway to accept Occidental shares instead of cash dividends- oil and gas 360

Berkshire Hathaway to accept Occidental shares instead of cash dividends

Reuters Occidental Petroleum said on Wednesday billionaire Warren Buffett’s Berkshire Hathaway Inc had agreed to accept common shares of the oil producer instead of cash dividends for preferred stock. Berkshire last year bought $10 billion worth of Occidental’s preferred shares to help finance its acquisition of Anadarko Petroleum. Berkshire plans to sell the common shares, Occidental said in a regulatory

PetroTal completes second horizontal well and achieves new record production at Bretaña oil field- oil and gas 360

PetroTal announces declaration of dividend

Oil and Gas 360 Calgary, Alberta and Houston, Texas– PetroTal Corp. (TSXV: TAL) (AIM: PTAL) (“PetroTal” or the “Company“) is pleased to announce that the Company’s board of directors has declared an interim dividend in respect of the common shares in the capital of PetroTal (the “Common Shares”) to shareholders of record at the close of business on December 20,

Cash-Rich Canadian Oil Firms Favor Buybacks as Other Options Narrow

From Reuters Canadian oil producers are raking in the highest revenues in five years thanks to strong global oil prices and Alberta’s production cuts, but government intervention has hamstrung their spending abilities, encouraging many to buy back shares and pay down debt. Canada’s main crude-producing province effectively became a mini-OPEC this year after the Alberta government imposed production quotas to

Vermilion Production up 19% to 96 MBOEPD

Vermilion Energy (ticker: VET) held its Q3 conference call this week, elaborating on its temporary withdrawal from the Netherlands, share buybacks, basin potentials and budget assumptions. Fund flows from operations (“FFO”) for Q3 2018 were $261 million ($1.71/basic share), an increase of 34% from the prior quarter (18% on a per share basis) driven by higher production volumes and higher commodity

Analysts have been publicly claiming that a drop in the value of the U.S. dollar is coming. Of course, this has implications for oil - Oil & Gas 360

Did Billions in Oil-Company Buybacks Swirl Down the Drain? Yes, Citi Says

From Bloomberg Study of oil explorers finds price, product mix drive stocks Shareholder returns show little correlation to share prices U.S. oil drillers started the year ushering in a new era of shareholder returns with promises of billions of dollars in share buybacks. To that they added debt repurchases, then shoveled money into drilling budgets as they raced to sink more wells. None