Whiting shares surge more than 6% -- earnings release, press release.
Whiting
Petroleum beats by $0.02, misses on revs; guides Q3 production; 2015
capital budget revised to $2.15 bln for 6.5% production growth : Reports Q2 (Jun) earnings of $0.04 per share, ex-items, $0.02 better than the Capital IQ Consensus Estimate of $0.02; revenues fell 29.4% year/year to $590 mln vs the $677.6 mln consensus.
- Production
in the second quarter 2015 totaled 15.5 million barrels boe, 89% crude oil/natural gas liquids (NGLs).
- Second
quarter 2015 production averaged 170,245 boepd. This represents a 2% increase over the first quarter 2015
despite non-core property sales of 8,300 boepd
- Co sees Q3 production guidance at 14.7- 15.1 million boe, sees 2015 guidance at 59.2-59.8 million boe
Bloomberg is reporting:
Hess Corp., which sold off fueling stations and refineries to focus
on production, reported its second consecutive quarterly loss as higher
oil output failed to compensate for lower prices.
The second-quarter loss was $567 million, or $1.99 a share, compared
with net income of $931 million, or $2.96, a year earlier, New
York-based Hess said in a statement Wednesday. Excluding one-time items,
the loss was 52 cents a share, less than the 71 cent average of 21
analysts’ estimates compiled by Bloomberg.
The loss came as the company pumped more oil to make up for crude
prices that fell 44 percent from a year earlier. Output rose 23 percent,
led by North Dakota’s Bakken Shale where production was up a 49 percent
to the equivalent of 119,000 barrels of oil a day.
Total production rose to 391,000 barrels a day, beating the highest analyst estimate of 361,600 barrels a day.
Hess also sold a half interest in operations that include a
gas-processing plant, a crude rail terminal and rail cars to Global
Infrastructure Partners for $3 billion in a deal that closed July 1.
Noble Corporation shares surge 6%; held throughout the day, and after hours -- earnings release, press release:
Noble Corp PLC beats by $0.11, reports revs in-line: Reports Q2 (Jun) earnings of $0.64 per share, $0.11 better than the Capital IQ Consensus Estimate of $0.53; revenues fell 1.0% year/year to $771.3 mln vs the $766.36 mln consensus.
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