Big Losses in 2q 2016

Last year about this time the said everything would have leveled out by today. 

That didn't happen:

Calgary-based Encana posted a US$601 million net loss in the quarter, an improvement on its US$1.6 billion net loss in the same period a year earlier, but managed to avoid an operating loss. The company posted operating earnings of US$89 million in the quarter, compared with an operating loss of US$167 million a year ago.

http://business.financialpost.com/news/energy/encana-precision-drilling-earnings-hint-at-brighter-outlook-for-oil?__lsa=c045-fdbc

 

Standard and Poor’s downgraded the credit of Canadian oil and gas sector companies 23 times in the first six months of the year., supra

 

Southwestern Energy Inc., which said it has upgraded its balance sheet and cash flow through several bank agreement extensions, still saw heavy second quarter losses as the Houston-based natural gas producer has essentially halted all development and drilling activities in the U.S.

For the period ended June 30, Southwestern reported a net loss of $620 million, or $1.61 per share, compared to a net loss of $815 million, or $2.13 per share, in the same period a year ago. Total revenues slumped 32% to $522 million, compared to $764 million a year ago.

Still, in the first half of 2016, Southwestern exploration and production operations reported losses of $1.7 billion, compared to losses of $1.6 billion year ago. Company officials attributed the huge losses primarily to decreases in realized oil and gas prices that Southwestern is able to negotiate in the competitive energy marketplace.

http://talkbusiness.net/2016/07/southwestern-energy-reports-2q-losses-of-620-million-plans-to-kickstart-drilling-again-in-back-half-of-2016/

 

 

CANONSBURG, Pa. (AP) _ Consol Energy Inc. (CNX) on Tuesday reported a loss of $469.8 million in its second quarter.

On a per-share basis, the Canonsburg, Pennsylvania-based company said it had a loss of $2.05. Losses, adjusted to account for discontinued operations, came to $1.02 per share.

The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 17 cents per share.

http://www.4-traders.com/CONSOL-ENERGY-INC-12141/news/CONSOL-Energy-reports-2Q-loss-22751376/

 

FT WORTH, Texas (AP) _ Range Resources Corp. (RRC) on Tuesday reported a loss of $224.9 million in its second quarter.

On a per-share basis, the Ft Worth, Texas-based company said it had a loss of $1.35. Losses, adjusted for non-recurring costs and stock option expense, came to 14 cents per share.

http://www.4-traders.com/RANGE-RESOURCES-CORP-14288/news/Range-Resources-reports-2Q-loss-22755848/

 

THE WOODLANDS, Texas (AP) _ Anadarko Petroleum Corp. (APC) on Tuesday reported a second-quarter loss of $692 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the The Woodlands, Texas-based company said it had a loss of $1.36. Losses, adjusted for non-recurring costs, came to 60 cents per share.

http://www.4-traders.com/ANADARKO-PETROLEUM-CORPOR-11665/news/Anadarko-Petroleum-reports-2Q-loss-22755445/

Statoil ASA deepened spending cuts after Norway’s biggest oil producer reported an unexpected loss amid lower crude prices and taxes on unprofitable international operations. The adjusted loss after tax, which excludes financial and other items, was $28 million in the second quarter after a profit of $929 million a year earlier, the Stavanger-based company said Wednesday. That missed the average estimate of 16 analysts for a profit of $294 million.

http://fuelfix.com/blog/2016/07/27/statoil-swings-to-loss-slashes-spendint/

 

 

NEW YORK (AP) — Hess Corp. (HES) on Wednesday reported a loss of $392 million in its second quarter.

The New York-based company said it had a loss of $1.29 per share. Losses, adjusted for non-recurring costs, were $1.11 per share.

http://www.argus-press.com/news/national/article_1ea7feaf-c45e-5769-a092-1cb3b26d30b4.html

 

IRVING, Texas (AP) _ Pioneer Natural Resources Co. (PXD) on Wednesday reported a loss of $268 million in its second quarter.

The Irving, Texas-based company said it had a loss of $1.63 per share. Losses, adjusted for non-recurring costs, were 22 cents per share.

Vanguard Natural Resources reported a net loss attributable to Common and Class B Unitholders for the quarter of $267.5 million or $(2.04) per basic unit after deducting distributions to Preferred Unitholders compared to a net loss of $800.3 million or $(9.27) per basic unit in the second quarter of 2015.

We reported a net loss attributable to Common and Class B Unitholders for first six months of 2016 of $419.5 million or $(3.20) per basic unit after deducting distributions to Preferred Unitholders.

http://vnrllc.com/2016/07/27/vanguard-natural-resources-llc-reports-second-quarter-2016-results/

 

Views: 974

▶ Reply to This

Replies to This Discussion

Permalink Reply by M.A.B. on August 4, 2016 at 7:38am

I didn't notice Hillcorp in those companies

Permalink Reply by Paul Butler on August 5, 2016 at 5:32am

HOUSTON (AP) _ Gastar Exploration Inc. (GST) on Thursday reported a loss of $14.5 million in its second quarter.

The Houston-based company said it had a loss of 17 cents per share. Losses, adjusted for non-recurring costs, came to 12 cents per share.

The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.

The independent oil and gas company posted revenue of $12.2 million in the period, which also did not meet Street forecasts. Six analysts surveyed by Zacks expected $13.5 million.

In the final minutes of trading on Thursday, the company's shares hit 95 cents. A year ago, they were trading at $1.58.

http://www.cnbc.com/2016/08/04/

 

 

HOUSTON, Aug 4 (Reuters) - EOG Resources Inc., a top U.S. shale oil producer, swung to a second-quarter net loss on Thursday of $292.6 million, or $0.53 per share from a profit of $5.3 million, or $0.01 per share a year ago, as tumbling oil prices overshadowed cost cuts and productivity gains.

Despite the loss, the company raised the number of wells it plans to frack this year to 350 from 270 while keeping its budget around $2.5 billion.

It said greater efficiencies have allowed it to do more for less and earn after-tax rate of return of more than 30 percent on its best new wells with the oil price where it is now, at $40 a barrel

http://www.rigzone.com/news/oil_gas/a/146031/EOG_Swings_To_2Q_Loss_But_Says_To_Ramp_Up_Well_Fracking_This_Year

.

Apache's total revenue slumped nearly 39 percent, outpacing a near-32 percent fall in total costs and expenses.

The Houston-based company's net loss narrowed to $244 million, or 65 cents per share, in the quarter ended June 30, from $860 million, or $2.28 per share, a year earlier.

The company's adjusted loss was 26 cents per share under a new accounting method it adopted during the quarter. Based on the previous method, Apache earned 5 cents per share.

 

 

 

Permalink Reply by Paul Butler on August 9, 2016 at 12:05am

HOUSTON (AP) _ Apache Corp. (APA) on Thursday reported a loss of $244 million in its second quarter.

On a per-share basis, the Houston-based company said it had a loss of 65 cents. Losses, adjusted for asset impairment costs, came to 26 cents per share.

The results missed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for a loss of 21 cents per share.

 

Apache's total revenue slumped nearly 39 percent, outpacing a near-32 percent fall in total costs and expenses.  The Houston-based company's net loss narrowed to $244 million, or 65 cents per share, in the quarter ended June 30, from $860 million, or $2.28 per share, a year earlier.

The company's adjusted loss was 26 cents per share under a new accounting method it adopted during the quarter. Based on the previous method, Apache earned 5 cents per share.

http://www.cnbc.com/2016/08/04/the-associated-press-apache-reports-2q-loss.html

 

 

HOUSTON (AP) _ Sanchez Energy Corp. (SN) on Monday reported a loss of $182.9 million in its second quarter.

On a per-share basis, the Houston-based company said it had a loss of $3.20. Losses, adjusted for one-time gains and costs, were 6 cents per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share.

The independent oil and gas company posted revenue of $111 million in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $121.1 million.

http://www.cnbc.com/2016/08/08/the-associated-press-sanchez-energy-reports-2q-loss.html

 

 

HOUSTON, Aug. 09, 2016 (GLOBE NEWSWIRE) -- EV Energy Partners, L.P. (NASDAQ:EVEP) today announced results for the second quarter of 2016 and the filing of its Form 10-Q with the Securities and Exchange Commission. 

Second Quarter 2016 Results

For the second quarter 2016, EVEP reported a net loss of $29.0 million, or $(0.58) per basic and diluted weighted average limited partner unit outstanding compared to a net loss of $29.0 million, or $(0.58) per basic and diluted weighted average limited partner unit outstanding for the first quarter of 2016.  Included in net loss for the second quarter of 2016 were the following items:

$54.8 million of non-cash losses on commodity and interest rate derivatives,

$47.7 million of gain on early extinguishment of debt related to repurchases of Senior Notes at a discount to par,

$2.0 million of impairment charges related to the write down of certain oil and natural gas properties primarily due to a change in development plans,

$1.4 million of non-cash costs contained in general and administrative expenses, and

$0.8 million of dry hole and exploration costs.

http://www.nasdaq.com/press-release/ev-energy-partners-announces-second-quarter-2016-results-20160809-00119

 

 

HOUSTON (AP) _ Black Stone Minerals LP (BSM) on Monday reported a second-quarter loss of $20.8 million, after reporting a profit in the same period a year earlier.

The Houston-based company said it had a loss of 8 cents per share.

The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.

The partnership that owns mineral and royalty interests posted revenue of $40.6 million in the period.

http://www.cnbc.com/2016/08/08/the-associated-press-black-stone-minerals-reports-2q-loss.html

 

 


RSS

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service