Fast and Furious -- Updating As Fast As Possible -- The Bakken, North Dakota, USA

Earnings Central: where all the updates are going -- COP, HES, OXY, and more ...  COP beats estimates ... huge!  HES looks NOT SO good ..... Libya? I haven't read the report ... first notes ... will correct as time goes along ...

Zacks:

Hess’ third-quarter 2011 results were lower than expected with earnings per share of $1.11 per share considerably lagging the Zacks Consensus Estimate of $1.40. The quarterly result was also below the adjusted year-earlier earnings of $1.31. The underperformance was mainly due to lower production realized in the reported quarter.

The company has a history of negative earnings surprises, lagging the Zacks Consensus Estimate in each of the last 4 quarters. The company recorded a minimum surprise of negative 1.62% in first quarter 2011 to a maximum of negative 20.7% in third quarter 2011. On an average, the earnings surprise stood at negative 8.4%.

Great oppportunities to buy on pullbacks? Be advised of disclaimer; this is not an investment site. It is a friendly discussion among friends.

OXY:

Occidental Petroleum Corp. said Wednesday that its net income jumped 34.8 percent in the fourth quarter as it increased production while world oil prices rose.

The Los Angeles oil and gas company reported earnings of $1.63 billion, or $2.01 per share, for the final three months of 2011. That compares with $1.21 billion, or $1.49 per share, for the same part of 2010. Revenue rose 19.2 percent to $6.03 billion.

Analysts expected earnings of $1.94 per share on revenue of $5.47 billion, according to FactSet.
Occidental increased worldwide oil and gas production by 4.8 percent in the quarter to a company record of 748,000 barrels of oil equivalent per day. 

What peak oil?