Whiting and Oasis Report Two Nice Wells; Several Companies Report Earnings Today -- Wednesday, August 1, 2012

Phillips 66 beats by 48 cents, hits a "home run":

Phillips 66 beats by $0.48: Reports Q2 (Jun) earnings of $2.23 per share, excluding non-recurring items, $0.48 better than the Capital IQ Consensus Estimate of $1.75. R&M second-quarter earnings were $1,184 mln, compared with $774 mln a year ago.

Enterprise Products: income up, revenues down:

Enterprise Products beats by $0.10, misses on revs: Reports Q2 (Jun) earnings of $0.64 per share, $0.10 better than the Capital IQ Consensus Estimate of $0.54; revenues fell 12.7% year/year to $9.79 bln vs the $11.72 bln consensus.

MRO reports solid 2Q12 profits

56 cents per share, for the three months ended June 30. That compares with $1.39 per share, a year ago.

ONEOK earnings increase

QEP: after four straight earnings increases, this time they decrease;

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• 21182, drl, KOG, Smokey Kenny 16-20-17-2H3, Pembroke,
• 21209, 1,458, WLL, Tifft 21-18H, Pleasant Hill, 2/12; cum 36K 6/12;
• 21659, 1,452, Oasis, Storseth 5603 12-27H, Bull Butte, t3/12; cum 21K 6/12;
• 21938, 733, Sinclair State 2-36H, Robinson Lake, t4/12; cum 19K 6/12;
• 22030, 422, CLR, Otter 1-11H, Viking; t5/12; cum 23K 6/12; 

Eight (8) new permits:

• Operators: CLR (4), OXY USA, BEXP, Triangle, XTO
• Fields: Hungry Man Butte (Billings), Alger (Mountrail), Rawson (McKenzie), Camp (McKenzie), Sand Creek (McKenzie)

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Energy links at Independent Stock Analysis.  The milestones in oil production worldwide are simply astounding.

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Another great energy primer from RBN Energy: this time on the diesel boom.