Ernest's Feed
Aug 14, 2014
Aug 13, 2014
Aug 1, 2014

Chevron Quarter2 profit tops estimates on higher oil, gas prices

By Ernest Scheyder

(Reuters) – Chevron Corp (CVX.N: Quote, Profile, Research), the second-largest U.S. oil company, reported better-than-expected quarterly profit on Friday as higher energy prices offset rising expenses and production dips in Kazakhstan.

Chevron’s reliance on higher crude oil and natural gas prices to boost results, even as production falls, mirrored results from rival Exxon Mobil Corp (XOM.N: Quote, Profile, Research) on Thursday, and underlined Wall Street’s concerns that international energy giants were not replenishing reserves fast enough.

Aug 1, 2014

Chevron second-quarter profit tops estimates on higher oil, gas prices

By Ernest Scheyder

(Reuters) – Chevron Corp (CVX.N: Quote, Profile, Research, Stock Buzz), the second-largest U.S. oil company, reported better-than-expected quarterly profit on Friday as higher energy prices offset rising expenses and production dips in Kazakhstan.

Chevron’s reliance on higher crude oil and natural gas prices to boost results, even as production falls, mirrored results from rival Exxon Mobil Corp (XOM.N: Quote, Profile, Research, Stock Buzz) on Thursday, and underlined Wall Street’s concerns that international energy giants were not replenishing reserves fast enough.

Aug 1, 2014

Chevron Q2 profit tops estimates on higher oil, gas prices

Aug 1 (Reuters) – Chevron Corp, the second-largest
U.S. oil company, reported better-than-expected quarterly profit
on Friday as higher energy prices offset rising expenses and
production dips in Kazakhstan.

Chevron’s reliance on higher crude oil and natural gas
prices to boost results, even as production falls, mirrored
results from rival Exxon Mobil Corp on Thursday, and
underlined Wall Street’s concerns that international energy
giants were not replenishing reserves fast enough.

Jul 31, 2014

Higher oil prices lift Exxon’s profit as production sags

By Ernest Scheyder

(Reuters) – Exxon Mobil Corp, the world’s largest publicly traded oil company, reported a stronger-than-expected quarterly profit on Thursday as higher prices for its crude and natural gas offset a 6 percent drop in production.

Exxon has struggled in recent quarters to replenish its reserves quickly, investing in massive new projects in Russia and Papua New Guinea that take years to develop.

Jul 30, 2014

Hess to form MLP for North Dakota oil, gas transport assets

July 30 (Reuters) – Hess Corp said on Wednesday it
would form a master limited partnership (MLP) for its North
Dakota oil and natural gas storage facilities and processing
plants, taking advantage of a key financial trend in the energy
sector to generate cash.

The company, which produces oil in North Dakota, Iraq and
Ghana, also posted a better-than-expected quarterly profit,
sending its shares up more than 5 percent.

Jul 22, 2014

Race for North Dakota’s agriculture commissioner is all about oil

TOWNER, North Dakota, July 22 (Reuters) – North Dakota’s
biggest oil producers have picked a side and put money into an
obscure election for the state’s agriculture commissioner,
hoping to ward off a rising Democratic challenger who could
limit development of new wells and pipelines.

With a legislature that meets only every two years, North
Dakota has given an unusual amount of power to the agriculture
commissioner and two other members of the state’s Industrial
Commission, charging the triumvirate with oversight of
permitting and other issues critical to the oil industry, which
hopes to drill 35,000 new wells within 15 years.

Jul 15, 2014

Blockbuster Bakken deal may put a bit more oil in traders’ hands

NEW YORK (Reuters) – A $6 billion takeover to create the biggest oil producer in the Bakken shale may also open up new opportunities for some big traders who ship oil from North Dakota and Montana to market.

Over the weekend, Whiting Petroleum Corp said it would acquire Kodiak Oil & Gas Corp, creating a company that pumped some 107,000 barrels per day (bpd) in the first quarter, or about one in every 10 barrels of Bakken crude.

Jun 24, 2014

North Dakota aims to double pipeline capacity; Enterprise helps

BISMARCK North Dakota (Reuters) – North Dakota intends to nearly double its oil and gas pipeline capacity within two years as part of a plan to curb the wasteful flaring of natural gas in the bustling Bakken oil field, the state’s governor said on Tuesday.

Oil production in North Dakota has more than tripled in the past decade to 1 million barrels of oil equivalent (boepd) per day, making for the fastest-growing U.S. state economy.