Two refiners now mention "less expensive domestic oil" as a huge deal.
Hess Corp,
under pressure from an activist investor to break up the company, reported a fourth-quarter profit on Wednesday as production from its wells in North Dakota's Bakken oilfield soared. Hess posted a profit of $566 million, or $1.66 per share, compared with a loss of $131 million, or 39 cents per share, a year earlier. Revenue rose 10 percent to $9.69 billion, Hess said.Marathon Petroleum Corp (MPC)
on Wednesday reported a quarterly profit as the U.S. refiningcompany processed higher amounts of cheaper domestic crude oilin its plants, helping lift refining margins.PSX:
The company reported a fourth-quarter profit of $755 million, or $2.24 per share, compared with a loss of $75 million, or 21 cents per share, a year earlier.
The refiner more than doubled its fourth-quarter dividend to 35 cents per share and said its board approved an additional $2.65 billion share buyback program.
announces fourth-quarter earnings of $708 million and adjusted earnings of $1.3 billion. This compares with earnings of $2.0 billion and adjusted earnings of $379 million during the fourth quarter of 2011. Eleven cents per shares; adjusted: $2.06/share.
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It will be a busy day tomorrow with these five companies reporting earnings:
- COP ($1.42) after market close:
- Hess ($1.22) before market open:
- Marathon Petroleum (MPC) ($2.10) before market open:
- Murphy Oil (MUR) ($1.34) after market close:
- Phillips 66 (PSX) ($0.69) 8:00 a.m. ET:
- 21141, 1,108, Liberty Resources, Anna 156-100-8-5-1H, East Fork, t8/12; cum 71K 12/12;
- 21429, 1,140, Hess, BB-Eide 151-95-3328H-2, Blue Buttes, t12/12; cum 4K 11/12;
- 23059, drl, Hess, LK-M Elisabeth 147-97-1522H-3, Little Knife,
- 23143, 189, Corinthian, Corinthian Skarphol 16-28 1H, North Souris, a Spearfish well; t10/12; cum 12K 1/13;
- 23321, 496, Crescent Point, CPEUSC Aldag 36-35-164N-100W, West Ambrose, a Bakken well; t11/12; cum 6K 1/12;
21141, conf, Liberty Resources, Anna 156-100-8-5-1H, East Fork:
Date | Oil Runs | MCF Sold |
---|---|---|
12-2012 | 15158 | 0 |
11-2012 | 9574 | 5064 |
10-2012 | 8523 | 6405 |
9-2012 | 11030 | 9136 |
8-2012 | 23420 | 0 |
7-2012 | 1914 | 0 |
23143, conf, Corinthian, Corinthian Skarphol 16-28 1H, North Souris:
Date | Oil Runs | MCF Sold |
---|---|---|
1-2013 | 4377 | 0 |
11-2012 | 4462 | 0 |
10-2012 | 3207 | 0 |
23321, conf, Crescent Point, CPEUSC Aldag 36-35-164N-100W, West Ambrose:
Date | Oil Runs | MCF Sold |
---|---|---|
11-2012 | 5458 | 0 |
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