|Day's Range||1.3700 - 1.4400|
China's stimulus measures, US sanctions, OPEC's probable production cuts and Libya conflict help global oil prices scale north and settle near a 3-week high.
One major U.S. shale CEO is predicting that America’s unconventional drilling boom is reaching a plateau, and he’s looking to take on a new oil frontier
Patterson-UTI (PTEN) management said that its rig count bottomed out in the fourth quarter and will go up slightly in the early part of 2020, primarily driven by the Permian Basin.
MPLX's fourth-quarter results are affected by lower Logistics and Storage throughput volumes, partially offset by higher average tariff rates from pipelines.
Hess (HES) has been upgraded to a Zacks Rank 2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
ConocoPhillips (COP) adds $10 billion to its already existing share repurchase program, which brings the total authorization to $25 billion.
Production in the Eagle Ford Shale in South Texas is starting to plateau, while the Bakken field in North Dakota where Hess is a major producer will hit its peak production levels within the next two years, he said. The Permian Basin, the top U.S. shale field in Texas and New Mexico, will plateau in mid-decade, Hess said.
A report by a nonprofit watchdog group critical of Exxon Mobil Corp's oil contract with Guyana has rekindled a debate over whether the deal is too generous to the company, just a month before a crucial presidential election. In a report http://www.globalwitness.org/exxonguyana published Monday, London-based anti-corruption group Global Witness said the U.S. oil major's 40-year deal to produce crude in the offshore Stabroek block would deprive the government of up to $55 billion in revenue over the life of the contract, compared with deals in other countries. The discovery of more than 8 billion barrels of oil and gas offshore Guyana by an Exxon-led consortium, which includes Hess Corp and China's CNOOC, will transform the economy of the poor South American country.
It's been a mediocre week for Hess Corporation (NYSE:HES) shareholders, with the stock dropping 12% to US$56.57 in the...
Moody's Investors Service has placed on review for downgrade the Ba2 corporate family rating (CFR) of Saka Energi Indonesia (P.T.) and the Ba2 rating on its $625 million senior unsecured notes due 2024. The outlook on all ratings has been changed to rating under review from negative. "The review for downgrade follows the Indonesian Supreme Court's decision to hold Saka liable for taxes and penalties of $255.4 million in total, which will weaken Saka's liquidity position especially if it also has to repay its shareholder loan due in January 2021," says Vikas Halan, a Moody's Senior Vice President.
Hess' (HES) fourth-quarter earnings are affected by lower commodity price realization and increased operating expenses, partially offset by higher hydrocarbon production.
Hess (HES) delivered earnings and revenue surprises of -7.14% and 8.08%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
Our call of the day comes from Macquarie’s chief investment officer for small and mid-cap value stocks, who says investors are overlooking some gems.
The energy sector is comprised of companies focused on the exploration, production, and marketing of oil, gas, and renewable resources around the world. Well-known companies in this group include Occidental Petroleum Corp. (OXY) and EOG Resources Inc. (EOG). Downstream companies that include HollyFrontier Corp. (HFC) refine and process oil and gas products for delivery to consumers .