Weatherford International plc (ticker: WFT) reported a net loss of $1.94 billion, or a loss of ($1.95) per share for the fourth quarter of 2017. Non-GAAP net loss for the fourth quarter of 2017, excluding charges and credits, was $329 million, or ($0.33) diluted loss per share. Revenue in the fourth quarter of 2017 was $1.49 billion, which increased 2% from revenue of $1.46 billion for the third quarter
Exxon Mobil Corporation (ticker: XOM) reported 2017 earnings of $19.7 billion, compared to $7.8 billion in 2016 – this represents a 151% increase. Non-cash asset impairments of $1.5 billion were recorded during the year, mainly due to upstream assets. Q4 2017 earnings were $8.4 billion. Earnings excluding U.S. tax reform and impairments were $3.7 billion, which is down 2% compared with
Chevron Corporation (ticker: CVX) reported earnings of $3.1 billion for Q4 2017. For reference, in Q4 2016 the company made $415 million. Q4 2017 earnings include non-cash tax benefits of $2.02 billion, related to the U.S. tax reform and a non-cash charge of $190 million related to a former mining asset. The company said that foreign currency effects decreased earnings
Sanchez Energy Corporation (ticker: SN) released year-end 2017 proved reserves and operating results for the fourth quarter and full year 2017. Highlights Proved reserves increased by 88% during the year to approximately 363 MMBoe, with a reserve replacement ratio of roughly 762% in 2017 Fourth quarter 2017 production of nearly 7.5 MMBoe, or 81,977 BOEPD The company’s production mix during
Royal Dutch Shell (ticker: RDS.A) CEO Ben van Beurden had some things to celebrate in his company’s year-end reporting today. “We were able to deliver $39 billion of cash flow from operations excluding working capital movements from our upgraded portfolio. We strengthened our financial framework during the year through an $8 billion reduction in our net debt…,” the CEO said
Bonanza Creek Energy, Inc. (ticker: BCEI) exceeded the company’s high-end of Q4 2017 estimates by producing 14.8 MBOEPD. The company is expecting Rockies production to grow by 20% in 2018 and in 2019 Bonanza Creek said it expects an increase of 50% or more. Expanding core footprint in DJ with French Lake “In 2017, we secured our strategically important leasehold
GeoPark Limited (ticker: GPRK), an independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Brazil, Argentina, Chile and Peru, issued an operational update. GeoPark’s 2018 work program and budget is $100-$110 million. The company is targeting the drilling of 30-plus wells, representing a 15-20% production increase over 2017 average levels. The projects
H&P’s U.S. land market share increased from 15% to 20% from September 30, 2016 to September 30, 2017 Net loss of $23 million or ($0.21) per diluted share from operating revenues of $532 million Helmerich & Payne, Inc. (ticker: HP) President and CEO John Lindsay said, “The fourth fiscal quarter headlines were dominated by oil price uncertainty which remained range-bound
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