Perfect storm:
- pipeline bans, drilling lease bans
- winter storm Orlena
- weak dollar
Pre-market trading (6:07 a.m. CT, February 2, 2021):
- WTI: surges 2.33%; up over $1.25; trading at $54.80
- natural gas: surges almost 5%; up over 13.3 cents; trading just under $3.00
- OPEC basket: flat; no change; trading at $54.51
- Brent: up 2.25%; trading at $57.62
- Urals: flat; no change; trading at $42.22
COP earnings: press release --
- loss lighter than expected; loss at 72 cents/share; same qtr last year, earned 65 cents/share;
- EPS beats by 6 cents:
- beats on revenue; beats by $1.36 billion
- production: 1,118 vs 1,154 Mboe/d forecast;
- cash flow fell 44% to $1.67 billion but topped forecast of $1.39 billion;
- dividend unchanged at 43 cents/share;
Overnight, social media:
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