For 2Q17, California Resources (CRC) reported total production of 129 Mboepd, which is below the midpoint production guidance of 128 Mboepd to 133 Mboepd.
For 2Q17, California Resources (CRC) reported revenues of ~$516.0 million, which was much higher than Wall Street analysts’ consensus of ~$482.0 million.
California Resources (CRC) announced its 2Q17 earnings on August 3, 2017. According to its press release, it was a worse-than-expected loss of ~$78.0 million.
Year-to-date, California Resources’ (CRC) stock has fallen a whopping 69.0%, from $21.29 to $6.65. On a weekly basis, CRC stock is in a steep decline.
Seadrill Partners will resume its dividend payments. It declared a quarterly cash dividend of $0.10 per share for the first and second quarter.
Analysts expect Seadrill Partners’ EBITDA to fall 41% in 2Q17. Analysts estimate that its 2Q17 EBITDA will be $129 million—compared to $219 million in 1Q17.
Analysts estimate that Seadrill Partners’ 2Q17 revenue will be $231 million—a 29% fall from revenue of $327 million in 4Q16 and a 44.8% fall YoY.
Seadrill Partners (SDLP) stock closed at $3.15 on August 17, 2017. The stock rose 17.9% in one day, which brought its YTD (year-to-date) return to -25%.
Nabors Industries’ (NBR) US operations witnessed a 33.5% YoY (year-over-year) revenue rise in 2Q17.
In 2Q17, Nabors Industries’ (NBR) total debt rose 7% on a YoY (year-over-year) basis, while its cash and marketable securities fell 9% YoY.
Nabors Industries’ (NBR) CFO (cash from operating activities) turned positive in 2Q17, compared with its negative CFO in 1Q17.
Nabors Industries (NBR) is one of the largest land-based drilling operators in the world, but it has had a weak run on the stock market in 2017.
Nabors Industries’ (NBR) management has estimated that many of the US upstream companies are set to add new rigs in 2017.
Nabors Industries’ (NBR) EBITDA (earnings before interest, tax, depreciation, and amortization) margin fell to 21.6% in 2Q17 from 29% in 2Q16.
On August 14, Nabors Industries (NBR) announced that it plans to acquire its oilfield equipment and services industry peer Tesco (TESO).
On August 16, 2017, natural gas (FCG) September 2018 futures traded at a discount of $0.02 to September 2017 futures.
In the week ending August 4, 2017, natural gas inventories rose by 28 Bcf to 3,038 Bcf. The EIA reported natural gas inventory data on August 10, 2017.
The natural gas rig count fell by eight to 181 for the week ending August 11, 2017. On a YoY basis, the natural gas rig count has more than doubled.
On August 16, 2017, natural gas active futures were 0.6%, 2.1%, 5.9%, and 6.8% below their 20, 50, 100, and 200-day moving averages.
According to Wall Street analysts’ consensus, NextEra Energy has a price target of $153.86 compared to its current market price of $149.98.