Oil Price Shell earned $2.4 billion from LNG trading in the fourth quarter amid strong demand for the fuel ahead of the winter, with LNG trades contributing to almost a third of its Q4 adjusted earnings, Reuters reported on Friday, quoting sources close to the UK-based supermajor. The LNG trading profit for the final quarter of 2023 was among the highest quarterly
CNBC Oil prices are expected to rise just slightly in the final quarter of the year, held back from further gains by a deep chill in global travel and a still healing economy. Analysts forecast the prices of Brent and West Texas Intermediate should rise to the low to mid-$40s per barrel, but they also see risks tilted toward another drop in oil prices.
Bakken-focused PetroShale Inc. (ticker: PSH) released financial and operating results for the year-ended December 31, 2017. Production averaged 2,121 BOEPD in the fourth quarter and 2017 production averaged 2,445 BOEPD, an increase of 50% over 2016. Financially, PetroShale reported 2017 revenues of $44.0 million (an increase of 89% over 2016) and 2017 EBITDA of $21.2 million (an increase of 123%
Permian-based Rosehill Resources Inc. (ticker: ROSE) reported a Q4 2017 net loss of $5.3 million, or $(0.87) per diluted share. For the full year of 2017, the company reported a loss of $8.5 million, or $(1.43) per share. In 2017, Rosehill acquired 6,505 acres in the White Wolf acquisition, establishing a second core operating area in the Delaware Basin. The
Razor Energy Corp. (ticker: RZE) recorded a positive Q4 2017 net income of $2.3 million, or $0.14 per share. For 2017, the company had a net loss of $3.7 million, or $(0.27) per share. The company produced 4,534 BOEPD in Q4, and had a full-year average production of 3,813 BOEPD. In 2017, the company completed three asset acquisitions in the
Select Sands delivered proppant by barge starting in Q4 Select Sands Corp. (ticker: SNS) reported full-year revenues of $15.1 million, with a gross profit of $2.9 million. However, the company had a full-year net loss of $1.6 million, or $(0.02) per basic and diluted common share. For Q4 2017, Select reported a net income of $1.3 million, or $0.01 per
Northern Alberta operator Strategic Oil & Gas Ltd. (ticker: SOG) has posted Q4 and full year 2017 results. The company had a net loss of $41.3 million, or $(0.89) per share in Q4 2017. For 2017, Strategic had a net loss of $89.5 million, or $(1.94) per share. Strategic said the loss was driven by an impairment charge of $58.8
Lonestar Resources US Inc. (ticker: LONE) reported a net loss attributable to common stockholders of $13.7 million, or $(0.58) per share for Q4 2017. For 2017, the company had a net loss of $42.6 million, or $(1.92) per share. Net oil and gas production in Q4 2017 was 7,272 BOEPD. For 2017, Lonestar produced about 6,495 BOEPD. Reserves Proved reserves
Frontera Energy Corporation (ticker: FEC) reported a net loss of $217 million, or $(4.33) per share for 2017. In Q4 2017, the company posted a net loss of $33 million, or $(0.65) per share. The company attributed the year’s loss to impairment charges in the aggregate amount of $123 million and mark to market loss on risk management activities of
Permian-concentrated oilfield service provider ProPetro Holding Corp. (ticker: PUMP) had a net income of $12.6 million, or $0.16 per share for 2017. In Q4 2017 the company had a net income of $10.1 million, or $0.12 per share. The company reported total revenues of $981.9 million for 2017 and total revenues of $313.7 million for Q4 2017. Yearend capacity grew
Calgary’s Canacol Energy Ltd. (ticker: CNE) recorded a net loss of USD$148 million for the year ended December 31, 2017, or $(0.48) per share – this compares to a net income of $23.6 million for the same period in 2016. For Q4 2017, the company had a net loss of $150.3 million, or $(0.85) per share – this compares to
Surge Energy Inc. (ticker: SGY) produced on average 15,675 BOEPD in Q4 2017 and exited 2017 with 15,850 BOEPD. For 2018, the company’s production guidance stands at 16,150 BOEPD. The company reported adjusted funds flow of $32.17 million, or $0.14 per share for Q4 2017. For 2017, the company reported adjusted funds flow of $103.81 million, or $0.45 per share.
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