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Net income jumped to $4.01 billion, or 95 cents per share, from $1.81 billion, or 43 cents per share, in the year-ago quarter.
Monster fractures and M&A are boosting regional activity in the ArkLaTex.
Anadarko Petroleum said April 26 it will shut in more than 3,000 vertical wells across the northeast Colorado counties where it operates following an explosion and fire that killed two people in a recently built home.
Total, France’s largest company, kick-started the sector’s first-quarter earnings reporting with an upbeat tone, as its adjusted net profit surged 56% to $2.6 billion compared with the same period of 2016.
As Venezuela’s crisis goes deeper, government and opposition leaders refuse to talk about real changes in the country’s oil legal framework, a Venezuelan analyst says.
The Calgary, Alberta-based company has lost nearly one-fifth of its value since the deal with ConocoPhillips was announced in late March, Reuters reported.
The field, oil lot 192 near the Ecuadorean border, has been idle since last year due to pipeline ruptures. Pacific Exploration & Production said a group of 30 indigenous people began the protest on April 22.
Venezuela, South America’s largest oil exporter, has been pummeled by a brutal economic crisis that has millions skipping meals, unable to afford soaring prices for basic goods and facing long lines for scarce products.
Hess had earlier this year set a higher spending target for 2017 and said it would expand in the U.S. Gulf of Mexico, Thailand and Guyana and ramp up drilling in North Dakota's Bakken Shale.
Reuters reported that Halfaya, operated by PetroChina, is Maysan Oil's largest field, producing 200 Mbbl of the company's total output of 380 Mbbl/d, according to Maysan Oil's Adnan Noshi.
Quarterly revenue fell to $2.26 billion in the first quarter ended March 31 from $2.67 billion. Analysts’ on average had expected revenue of $2.27 billion, according to Thomson Reuters I/B/E/S.
The company's loss before tax widened to 542 million British pounds (US$693.8 million), compared with a pretax loss of 235 million pounds a year earlier, Reuters reported.