Tag: financial results
Weatherford releases Q3 results, revenue down 3%
Given that industry bottomed during Q2, worst of historical downturn is behind us, market is slowly turning – Duroc-Danner Weatherford International plc reported a net loss of $1.78 billion, or a net loss of $1.98 per share, and adjusted net loss before charges and credits of $349 million ($0.39 adjusted net loss per share) on revenues of […]
Clayton Williams Energy suffers Q2 loss, refocuses on Delaware Basin
Clayton Williams has oil and gas production of 13.6 MBOE/d Clayton Williams Energy, Inc. announced a Q2 net loss of $73.8 million, with a plan focused on the development of its 65,000 net acre position in the southern Delaware Basin. Production costs in Q2 were $19.2 million versus $23.1 million in Q2 2015 due to lower oilfield […]
Schlumberger releases 16,000 employees in 2016 amid weak Q2 results
US land rig count fell by 25% in second quarter Schlumberger released it’s second quarter results, and while it’s revenue is up 10 per cent from last quarter, at $7.2 billion, it’s all attributed revenue gained from the merger with Cameron International Corporation, which finalized April 1. North American revenue decreased 12 per cent, while international revenue decreased 9 per cent. “In the […]
Kosmos Energy announces more positive tests for ‘world class’ gas field
Tortue field reserves approx. 25 Tcf, fairway may hold more than 50 Tcf of natural gas potential Monday was a busy day for Texas-based Kosmos Energy Ltd. The company announced more drilling success for its “world-class basin” offshore Mauritania and Senegal and released its Q1 financial results, which showed a smaller loss compared to the same period last […]
WPX Energy loses $59M in Q1 but optimistic for Permian Basin production
Adjusted net loss from operations in Q1 was $59 million, or a loss of $0.21 per share TULSA, Okla. – WPX Energy says that it is increasing its estimated ultimate recoveries (EURs) for its Delaware Basin wells in the Permian to 900 Mboe, up 34 per cent from its acquisition type curve of 670 Mboe. The company plans […]
Midland-based Clayton Williams Energy loses $35.3M loss in Q1
MIDLAND, Texas- Clayton Williams Energy, Inc. recorded another losing quarter, a Q1 a net loss of $35.3 million, or $2.90 per share, as compared to a net loss of $18.2 million, or $1.50 per share, for Q4 2015. Adjusted net loss (non-GAAP) for 1Q16 was $30.7 million, or $2.53 per share, as compared to adjusted net loss1 (non-GAAP) of […]
Encana reduces Eagle Ford, Permian drilling and completion costs up to 44%
Encana on track to deliver $550 million in year-over-year cost savings During the first quarter, Encana Corp. says its internal analysis and independent third-party research indicates the company is delivering well performance among the top of its peer groups in its core four assets. But Encana also reported a bigger-than-expected quarterly loss, citing low oil and […]
Baker Hughes announces $724 million loss for Q1 2016
Revenue of $2.7 billion for the quarter, down 21% sequentially and 42% year-over-year HOUSTON- Baker Hughes says Q1 2016 was worse than expected, leading to more losses ahead of the proposed takeover by Halliburton. “During the quarter, the industry faced another precipitous decline in activity, exceeding even the most pessimistic predictions, as E&P companies further cut […]
Basic Energy Services says Q1 was worse than industry expected
At end of Q1 2016 Basic Energy had stacked 134,000 hydraulic hp, 127 well servicing rigs Revenue is down and losses are up at Basic Energy Services, as the Fort Worth-based service company struggles with low prices along with the rest of oil patch. Basic Energy reported that Q1 2016 revenue declined 19 per cent to $130.4 million […]
Sanchez Production announces $137 million loss in 2015
Sanchez recorded net loss of $44.5 million in Q4 2015, net loss of $137 million for full year 2015 HOUSTON, Texas – Sanchez Production Partners LP today reported fourth quarter and full year 2015 results. “Despite a number of significant headwinds, we executed a plan to transform SPP in 2015 and exited the year with a well-positioned master […]
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