NOG, VOG, USEG, others, all on one page.
Michael Filloon, recap, August 9, 2011.
June 28, 2011: In general, Bakken companies are starting to announce lower production than previously predicted for 2Q11 due to weather, roads, and flooding. Earnings estimates probably at lower end of forecasts, but as of June 27, 2011, not many "earnings warnings" from Bakken companies.
2Q11 -- EARNINGS -- CONFERENCE CALLS
HAL: 80 cents vs 74 cents forecast; Revenues hit new record; transcript; share price target increased; oil market heats up on news; fracking industry can't keep up with demand
NFX: $1.02 vs $1.05; may have hit record IP in the Bakken; share price up 1.5%; misses expectations in two of last five quarters (are expectations too high?)
The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 32.2%, with the biggest boost coming in the second quarter of the last fiscal year when revenue rose 56.1% from the year earlier quarter.SLB: 98 cents vs 85 cents forecast; profit jumps 64 percent; share price jumps.
The company has now fallen short of estimates in the last two quarters. In the first quarter, it missed expectations by 5 cents with net income of $1.02 versus a mean estimate of net income of $1.07 per share.
BHI: earnings triple! Transcript here. Look at the two-year share performance.
The company’s earnings of 93 cents a share inched passed the Zacks Consensus Estimates by 2 cents, but showed a dramatic improvement from 23 cents earning a year ago.OXY: profit up 71%; $2.23 vs $2.15; transcript;
Revenue shot up 40% to $4.7 billion in the quarter from the year-earlier level of $3.4 billion. The top line also exceeded the Zacks Consensus Estimate of $4.6 billion (numbers rounded).
WFT: record revenues;
Second quarter revenues of $3.052 billion were the highest in the company's history, despite the severe negative impact of Canada's spring break-up. Revenues were 25 percent higher than the same period last year and seven percent higher than the prior quarter.NBR: revenue jumps 40%; 65 cent vs 25 cents;
QEP: earnings jump 22%;
NOV: earnings up 18%;
COP: $2.41 vs $2.19; despite lower quarterly profit;
HES: $1.78 vs $1.94; shares drop; refinery and Libya drag down earnings;
NBL: beats on revenue; $1.44 vs $1.07 comparable quarter last year;
XOM: surges; net income up 41%; misses forecast; $2.18 vs $2.33
WLL: income up 17%; production records set; replay of conference call; transcript here;
LINE: misses forecast; 47 vs 61 cents; still, earnings increase; raises dividend 5 percent;
CHK: net income nearly doubled; transcript;
HP: beats estimates; revenue up 33 percent; announced contracts for 12 new rigs earlier this month; with earnings announcement, announced contracts for 20 more new rigs; transcript;
EEP: lags estimates; raises distribution by 3.6 percent; share prices appreciate;
CVX: profit jumps 43%; a second-quarter record; $3.85/share beat estimates by 23 cents;
SM: blow-out quarter; 28 cents/share last year; $1.86 this year -- incredible
MDU: revenues in-line; reaffirms guidance; transcript;
CLR: $1.33 vs $0.61; transcript;
WMB: 23% higher profit; 39 cents vs 28 cents a year earlier; earnings call Tuesday, August 9, 2011; WMB paying 3% now.
GMXR: earnings report;
DNR: results; transcript;
DBLE: results; transcript;
EOG: better than expected; shares up 6%; transcript; $1.10 vs $0.24 (huge);
KOG: results; transcript;
ENB: beats estimates; transcript;
OAS: 36 cents vs a loss; conference call; transcript;
BEXP: beats expectations; operations update; transcript;
EPD: profit rises 27%;
NOG: records set; production up 200% year-over-year ; Michael Filloon -- response to NOG's 2Q11 was "good"
VOG: record results; doubles production year-over-year
GEOI: press release;
USEG: press release;
SSN: filed at its website (PDF file); production increased by 63% and earnings increased by 57%, compared to year earlier.
AXAS: after market closes on August 9; conference call on August 10
WHX: Aug 16 - Aug 21