Category: Finance/Earnings

BP profits jump on Rosneft stake

BP’s profits jumped 65 percent in the first quarter on a surge in Rosneft earnings, even as its global oil production and refining businesses declined, the company reported Tuesday.  More »

NOV profits up 17 percent

Oil gas equipment provider National Oilwell Varco’s profits increased nearly 17 percent in the second quarter, the first full quarter since CEO and president Clay Williams took the reins of the Houston-based company.  More »

Investors go after Cheniere’s defense of stock grants

Cheniere Energy investors say the company can’t use stock exchange rules to justify $1.86 billion in stock grants they claim were never legally approved by shareholders.  More »

Cheniere to ‘reassess’ bonus plan for its CEO

Cheniere, based in Houston, gave CEO Charif Souki a $142 million compensation package in 2013,  More »

Noble’s profits drop amid shale boost

Noble Energy’s profits fell 49 percent in the second quarter on a $187 million loss on commodity derivatives, even as higher production in its U.S. shale plays bolstered sales.  More »

Repsol said to explore bid for Talisman Energy

Talisman has a market value of about $10.2 billion.  More »

Apache attempts to reassure investors about N. American focus

In response to complaints from an activist hedge fund, Houston-based Apache Corp. said it will continue to focus more closely on North American onshore exploration and production.  More »

North American production bolsters Halliburton profits 21 percent

Halliburton cleared a 21 percent profit boost in the second quarter as demand for oil production equipment climbed in North America and drills kept spinning in the eastern hemisphere, the company said Monday.  More »

Schlumberger reports profit drop amid overall sales growth

Schlumberger’s profit fell 24 percent in the second quarter despite a revenue increase.  More »

Baker Hughes earnings up 47 percent

Oilfield service company Baker Hughes’ profits rose 47 percent in the second quarter amid unprecedented demand for its services in North America, the company said Thursday morning.  More »

Houston electricity retailer launches $63 million IPO

Houston-based electricity and gas retailer Spark Energy launched its initial public offering Monday seeking $57 million to $63 million.  More »

Phillips 66 increases capital budget, approves more buybacks

Refining and midstream giant Phillips 66 announced that it would increase its 2014 capital budget by $1.2 billion this year in order to fund its liquefied petroleum gas project as well as a recent acquisition.  More »

Fortune Global 500 list heavy on oil

Wal-Mart took the No. 1 spot on Fortune’s Gobal 500 ranking of the world’s largest companies based on revenue, but the top of the list was sloshing with oil.  More »

Noble Corp. spinoff Paragon announces $1.2 billion debt offering

Paragon Offshore Ltd., the spinoff of offshore drilling contractor Noble Corp., today announced plans to issue $1.2 billion in private debt.  More »

Area biofuels company gets extension on Mississippi loan

KiOR, the Pasadena-based firm that has led efforts to develop biofuels from non-food sources but is struggling financially, has gotten an extra four months to resume payments on a loan from the state of Mississippi.  More »