Link here. At the link scroll down until you get the wells. Note the amount of water being used to frack these wells. I'll come back to these later, but too much happening right now.
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Market close: lots of earnings coming out --
EOG:
- exceeds high end of oil and NGL production targets
- generates significant free cash flow
- achieves improved well performance and lower costs in Delaware Basin
- secures 2019 services at competitive prices and raises 2018 CAPEX guidance range to $5.8-$6.0 billion
- targets further well cost reductions in 2019
AAPL:
EPS, $2.91 vs; $2.78; revenue, $62.9 billion vs $61.6 billion; huge beats; 46.9 million iPhones sold vs 47.5 million forecast; average selling price of iPhone, $793 vs Wall Street expecting, $751; AAPL shares down 5%; analyst: unhappy with iPhone sales (LOL) and guidance; one CNBC analyst almost sounds as if he is really, really worried about a Chinese slowdown suggesting the demise of Apple by this time tomorrow -- disclaimer -- this is not an investment site. Do not make any investment, financial, travel, job, or relationship changes based on what you read here or what you think you may have read here. Apple, Inc,'s new motto: "don't get mad, get even." Apple will no longer give unit sales figures in future reports. Mistake? They should have made this decision / made this announcement in a quarter in which they had increasing unit sales. AAPL shares down 7% after results and these announcements. Apple, Inc. , falls below $1 trillion market evaluation.
Starbucks: beats across the board; SBUX up 7.5% after earnings released; this will generate a lot of talk tomorrow;
CBS: beat on top and bottom; shares up about a percent after earnings released; "best 3rd quarter ever";
Kraft Heinz: misses earnings; beats on revenue; shares plunge; down 6.5%; continues its yearly downtrend; in the food space, only Campbells has done worse; this will generate a lot of talk tomorrow;
Shell:
profit surges;
Shell said its quarterly profit on a current cost-of-supplies basis—a number similar to the net income that U.S. oil companies report—was $5.6 billion, up from $3.7 billion a year earlier.
Still, on an adjusted basis, its results came in slightly below the company-provided analyst consensus.
Investors, still burned from the sharp decline in oil prices in 2014, have taken a tough line on such surprises in recent quarters.
Shares in the company were down nearly 3% in early London trading, weighed down by the price of oil. The price of international Brent crude futures have slid from a four-year high earlier this month and the market is continuing to sell off.
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EOG
From the company's press release:
the company reported third quarter 2018 net income of $1.2 billion, or
$2.05 per share. This compares to third quarter 2017 net income of $101 million, or $0.17 per share. Net cash from operating activities in the third quarter 2018 was $2.2 billion.
Adjusted non-GAAP net income for the third quarter 2018 was $1.0 billion, or $1.75 per share, compared to adjusted non-GAAP net income of $111 million, or $0.19 per share, for the same prior year period.
Third Quarter Review
EOG set a company record and exceeded the high end of its target range for crude oil volumes in the third quarter 2018 by producing 415,000 barrels of oil per day (Bopd), an increase of 27 percent compared to the same prior year period. Natural gas liquids (NGL) production increased 46 percent while natural gas volumes grew 13 percent, contributing to total company production growth of 25 percent.
Per-unit operating expenses declined during the third quarter 2018 compared to the same prior year period. General and administrative expenses fell 20 percent, transportation costs declined 15 percent and depreciation, depletion and amortization expenses fell 13 percent, all on a per-unit basis.
EOG generated $2.3 billion of discretionary cash flow in the third quarter 2018. After considering exploration and development expenditures of $1.7 billion and dividend payments of $107 million, EOG produced free cash flow during the third quarter of $503 million.
