Corporate performance announcements

Flotek announces increased 2024 guidance and continued profitability growth in connection with second quarter 2024 results

August 7, 2024

Oil and Gas 360 Publisher’s Note: Flotek Industries (NYSE: FTK) will be presenting at EnerCom Denver-The Energy Investment Conference, scheduling for one-on-one meetings is open to qualified investors. You can still Register to attend. HOUSTON, August 6, 2024 – Flotek Industries, Inc. (“Flotek” or the “Company”) (NYSE: FTK) today announced operational and financial results for the quarter ended June

Exxon delivers $9.2 billion second-quarter profit, raises output target

August 2, 2024

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

Dominion Energy posts fall in second-quarter profit on higher expenses

August 1, 2024

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,

Hess beat earnings estimates on robust Guyana output

July 31, 2024

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

Phillips 66 reports second-quarter 2023 financial results- oil and gas 360

Phillips 66 tops forecasts despite profit slump

July 30, 2024

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

BP: Oil giant lifts dividend as it beats expectations in second quarter- oil and gas 360

BP boosts dividend as Q2 earnings top estimates

July 30, 2024

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

Oilfield services firms SLB, Halliburton post profit gains on international demand

July 19, 2024

U.S. News HOUSTON – Top U.S. oilfield service firms SLB and Halliburton posted higher quarterly profits on Friday helped by strong global demand, but they warned of softer activity in North America for the second half of this year. Oilfield service providers have in recent quarters bet on growth overseas, particularly in the Middle East and Asia, as well as

Liberty Energy announces quarterly cash dividend

July 17, 2024

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

BP shares plummet on $2 billion impairment warning

July 9, 2024

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

Ring Energy increases sales guidance and announces debt reduction results for second quarter 2024

July 8, 2024

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”)

Exxon signals Q2 below market consensus, excluding Pioneer buy

July 8, 2024

Investing HOUSTON – Exxon Mobil Corp (NYSE:XOM) on Monday signaled that lower refining margins across the industry and lower natural gas prices will reduce profits in the second quarter. A snapshot of operating factors affecting the quarter suggests earnings per share between $1.50 and $2.40, or about $8.3 billion, which is 17% below market consensus. The preview excludes additional oil and gas

BP misses Q1 earnings forecasts on lower oil and gas prices

May 7, 2024

Oil Price Lower oil and gas prices and a prolonged refinery outage in the United States dragged down BP’s earnings for the first quarter to below analyst expectations. UK-based supermajor BP (NYSE: BP) reported on Tuesday an underlying replacement cost profit – the closest metric to net profit – of $2.7 billion for the first quarter of 2024, down from $3.0 billion

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