Exxon recorded earnings of $8.2 billion, a decrease from $11.4 billion in the first quarter of 2023. This was largely due to lower industry refining margins and natural gas prices.
Exxon Mobil Corp. expects U.S. antitrust regulators to approve its $60 billion acquisition of Pioneer Natural Resources Co. by the end of June despite increased government scrutiny of corporate mergers.
Chevron Corporation reported a decrease in first quarter 2024 earnings to $5.5 billion from $6.6 billion the previous year, attributed to lower margins on refined products and natural gas realizations.
Helmerich & Payne, Inc. (NYSE: HP) reported a fiscal second quarter net income of $85 million, or $0.84 per diluted share, on operating revenues of $688 million.
Exxon ecently took delivery of 10 brand-new all-electric pickup trucks for use in our Permian Basin oil and natural gas operations.
In the first quarter of 2024, the Precision Drilling revenue declined to $528 million from $559 million due to reduced U.S. drilling activity, while adjusted EBITDA also fell to $143 million from $203 million, impacted by higher share-based compensation charges.
Nabors Industries Ltd. reported a slight increase in operating revenues for Q1 2024 to $734 million but experienced a widening net loss of $34 million. The company secured significant contracts and qualifications for rigs in Argentina and the Middle East, and a U.S. drilling contractor adopted Nabors’ RigCLOUD® platform
The first quarter of 2024 saw a significant $51 billion in announced deals, suggesting a potential surpassing of last year’s $192 billion total if this pace continues. The largest transaction noted was the $26 billion sale of Endeavor Energy Resources to Diamondback Energy, marking a significant consolidation within the industry.
Matador’s 2% production over-performance to start the year was done while spending less money on drilling than projected, the company said. During the first quarter of 2024, Matador’s average oil production of 84,777 barrels per day beat its guidance of 83,500 barrels, the company said.
DeLa Express LLC, an affiliate of Moss Lake Partners, has requested approval to initiate the pre-filing review process for its proposed DeLa Express Project designed to transport 2 bcfd of Delaware basin natural gas from Texas to Louisiana.
