Superior Energy Services, Inc. (NYSE: SPN) announced a net loss for Q2 2018 of $25.4 million on revenue of $535.5 million, much improved from Q1’s loss of $59.9 million on revenue of $482.3 million. Superior reports that most of this quarter’s improvement is due to activity in the U.S., where the company has a large hydraulic fracturing business line. Superior
Financial Highlights Orders of $6.0 billion for the quarter, up 15% sequentially and up 9% year-over-year on a combined business basis Revenue of $5.5 billion for the quarter, up 3% sequentially and up 2% year-over-year on a combined business basis GAAP operating income of $78 million for the quarter, increased $119 million sequentially and increased $223 million year-over-year on a
Schlumberger (NYSE: SLB) reported results for the second quarter of 2018 highlighted by sequential revenue increases and the mobilization of 29 new rigs for its international drilling business. The company also said it had removed one complete layer of its management and support structure. Financial Highlights Revenue of $8.3 billion increased 6% sequentially Pretax operating income of $1.1 billion increased
During its second quarter, Superior Drilling Products (ticker: SDPI) reported revenue of $4.0 million, up from $2.9 million in the previous year’s Q2. The company’s net income was $0.3 million for Q2, up $3.4 million from a Q2, 2016 loss. The company’s Drill-N-Ream®—or DnR—technology increased in sales and the company said that its channel partner successfully achieved its June 2017
Two companies, Eco-Stim Energy Solutions and Bellatrix Exploration, that are presenting at EnerCom’s The Oil & Gas Conference® have announced Q2 earnings and updates. Eco-Stim Energy Solutions Eco-Stim Energy Solutions (ticker: ESES) announced during its Q2 earnings call that is had increased its revenue by 233% over Q1, 2017 to $8.5 million. The company signed a second contract for services in
Oil & Gas Conference® presenters Lonestar, Resolute, Carrizo, Black Stone, Denbury report a busy quarter Lonestar Resources During its second quarter, Lonestar Resources (ticker: LONE) indicated that its production had risen by 7% above Q1 volumes. The company averaged Q2 production of 5,635 BOEPD—over its 5,266 BOEPD in Q1. In mid-June, Lonestar closed on an approximately $110.6 million acquisition of
Approach Resources Approach Resources (ticker: AREX) exceeded its production guidance for Q2, with production at 11.9 MBOEPD, and dropped its lease operating cost below guidance as well, at $3.92 per BOE. Approach drilled a total of eight wells and completed another five. One of the completed wells was in the Wolfcamp A bench, two more in the Wolfcamp B bench,
EOG Resources (ticker: EOG) had a Q2 net income of $23.1 million. A year ago, during the same quarter of 2016, the company reported a net loss of $292.6 million. EOG’s oil production grew to 334,700 BOPD during Q2, a 25% improvement from the previous quarter. In its Delaware basin assets, EOG completed 25 wells in the Wolfcamp, 19 wells
BBG adds second rig in the DJ – company likely to exit Utah, put the capital into the DJ: Crawford Bill Barrett Corporation (ticker: BBG) reported production at the high end of its initial Q2 guidance—with cumulative volumes of 1.53 MMBOE for the second quarter. The company’s anticipated production was between 1.45 and 1.55 MMBOE. The company indicated that it
In the past two days ExxonMobil Corporation (ticker: XOM), Chevron Corporation (ticker: CVX), and ConocoPhillips (ticker: COP) all reported second quarter earnings and gave operational updates. ExxonMobil ExxonMobil earned $3.4 billion in Q2, which brought the company’s earnings for the year-to-date to $7.4 billion. This represents a 97% improvement from the same quarter of 2016—in which Exxon earned $1.7 billion.
Chem Giant Planning for Growth in 2015 “We believe lower oil prices are a relative positive for Dow and a boost for the global economy.” “The old view of forecasting five years out almost seems to be out the door.” Following the company’s 2014 earnings release—the Dow Chemical Company (ticker: DOW) posted EPS of $3.11 for the year, a 25%
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