Oil and gas producer Occidental Petroleum Corp. swung to a fourth-quarter profit from a year-ago loss on higher-than-forecast U.S. production and crude prices.
The Houston-based company, one of the top producers in the prolific Permian Basin of West Texas and New Mexico, posted stronger-than-forecast oil and gas output. Shale companies overall have topped expectations on soaring energy prices.
Adjusted earnings of $1.48 per share beat analysts’ consensus forecast for $1.10 per share. The company increased its quarterly common dividend to 13 cents per share. Shares were trading this Friday around 3 PM ET at just under $40 per share.
Exclusive-Quantum Energy offers $2.25 billion debt fund with fossil fuel opt-out
Quantum Energy Partners is raising a $2.25 billion fund that will lend to U.S. oil and...
Quantum Energy Partners is raising a $2.25 billion fund that will lend to U.S. oil and gas firms as well as energy companies transitioning away from fossil fuels, allowing investors to pick whether they back activities that lead to higher greenhouse gas emissions, according to people familiar with the matter.
Heeding these concerns, Quantum decided that its new fund will have two sleeves: a $1.5 billion tranche for lending to oil and gas producers and a further $750 million for companies supporting the transition away from fossil fuels, the sources said. Investors can choose if they want to invest in one or both.
EOG Resources reported fourth-quarter 2021 results. Record quarterly adjusted net income...
EOG Resources reported fourth-quarter 2021 results. Record quarterly adjusted net income was $1.8 billion, or $3.09 per share, and $2.0 billion of free cash flow. Capital expenditures are in-line with guidance while oil production is above guidance mid-point. The Company also declared a regular dividend of $0.75 per share and a special dividend of $1.00 per share.
Chevron said it is monitoring markets after Russia invaded Ukraine and can adjust crude...
Chevron said it is monitoring markets after Russia invaded Ukraine and can adjust crude supply through its trading organization to meet market demand.
Chevron U.S.A., a subsidiary of Chevron, announced it has made a new investment in Carbon Clean. As part of the new investment, Chevron and Carbon Clean are seeking to develop a carbon capture pilot for Carbon Clean’s CycloneCC technology on a gas turbine in San Joaquin Valley, California.
ExxonMobil has reached an agreement to sell its equity interest in Mobil Producing Nigeria Unlimited to Seplat Energy, a Nigerian independent oil and gas company, through its wholly-owned subsidiary Seplat Energy Offshore Limited.
From Twitter: Russian Stock Market is Down and Out
After yesterday's huge loss, reports today are that the Russian Stock Market is now closed indefinitely....
After yesterday's huge loss, reports today are that the Russian Stock Market is now closed indefinitely.
The Russian stock market lost all of its gains from the past 4 years in a single day today. The Dow Jones was up 0.28%. Which shows you the sheer scale of the economic mismatch between Russia and the US & EU. pic.twitter.com/DBBzLlKb6e
