Related Articles
US oil and gas companies are going in the right direction
Forward article link
Share PDF with colleagues

US large caps turn corner

The financial strain is starting to ease as the shale patch sees the effects of rising oil prices

Optimism among the big US oil and gas operators is back after a strong first quarter showing that marked the industry’s best financial performance in over a year. And with WTI edging towards $70/bl, rebounding revenues are poised to make the second quarter even better.  Among the large caps, ExxonMobil made a profit for the first time since Q4 2019—recording $2.73bn in net income during Q1 and a massive $22.8bn differential over the previous quarter. Chevron reported earnings of $1.38bn for the quarter, its best filing in a year but still $2.22bn down year on year, while ConocoPhillips posted $982mn, its highest quarterly performance since Q3 2019. “Compared to the first quarter

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Muscat faces up to oil twilight
15 June 2021
The Omani government’s focus is reluctantly shifting to managing output decline
Indebted KrisEnergy set for liquidation
15 June 2021
Disappointing Cambodian exploration results seal Singaporean independent’s fate
India needs tax and regulatory consistency – Cairn
15 June 2021
Rules for new prospects should be extended to mature fields, according to the domestic producer
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video