BOE Report

Baker Hughes announces June 2020 rig counts

Baker Hughes (NYSE: BKR) announced today that the Baker Hughes international rig count for June 2020 was 781 down 24 from the 805 counted in May 2020, and down 357 from the 1,138 counted in June 2019. The international offshore rig count for June 2020 was 194, down 1 from the 195 counted in May 2020, and down 52 from the 246 counted in June 2019. The average U.S. rig count for June 2020 was 274, down 74 from the 348 counted in May 2020, and down 695 from the 969 counted in June 2019. The [Read more]

Imperial continues limited share repurchase program

CALGARY, Alberta--(BUSINESS WIRE)--Imperial Oil Limited announced today that it has received final acceptance from the Toronto Stock Exchange (TSX) for a limited normal course issuer bid (NCIB) to repurchase up to 50,000 common shares during the next 12 months. The NCIB will be used primarily to eliminate dilution from shares issued in conjunction with Imperial’s restricted stock unit (RSU) plan. In 2002, Imperial introduced a RSU plan pursuant to which shares may be issued upon vesting, and [Read more]

ConocoPhillips Announces Don E. Wallette, Jr. to Retire After 39 Years with the Company

HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) today announced the retirement of Don E. Wallette, Jr. as executive vice president and chief financial officer after a successful 39-year career with the company. Wallette’s retirement is effective on Aug. 31, 2020. In conjunction with Wallette’s retirement, the company also announced that William (Bill) L. Bullock, Jr., currently president, Asia Pacific Middle East, will assume the role of executive vice president and chief financial [Read more]

XTO Energy Inc. Extends Tender Offer to Purchase All Outstanding Units in Hugoton Royalty Trust

Offer Now Scheduled to Expire at 5:00 p.m., New York City Time, on Tuesday, May 26, 2020 SPRING, Texas--(BUSINESS WIRE)--XTO Energy Inc. (“XTO Energy”) today announced that it has extended the offering period of its previously announced tender offer to purchase all outstanding units of beneficial interest (the “Units”) in Hugoton Royalty Trust (OTCQX: HGTXU, the “Trust”) at a price of $0.20 per Unit, net to the seller in cash, without interest and subject to any withholding of taxes. The [Read more]

Murphy Oil Corporation, facing an unprecedented industry oil price collapse, is relocating corporate headquarters to houston, texas

EL DORADO, Ark. - In recognition of the extraordinary drop in crude oil prices, independent oil and natural gas exploration and production company, Murphy Oil Corporation (NYSE: MUR), is closing its legacy headquarters office in El Dorado, Arkansas, home to approximately 80 employees, as well as its longstanding office in Calgary, Alberta, Canada, home to approximately 110 employees. Consequently, it will be consolidating all worldwide staff activities to its existing office location in Houston, [Read more]

Imperial declares second quarter 2020 dividend

CALGARY, Alberta--(BUSINESS WIRE)--Imperial Oil Limited today declared a quarterly dividend of 22 cents per share on the outstanding common shares of the company, payable on July 1, 2020, to shareholders of record at the close of business on June 4, 2020. This second quarter 2020 dividend compares with the first quarter 2020 dividend of 22 cents per share. Imperial has a long and successful history of growth and financial stability in Canada as a leading member of the petroleum industry. [Read more]

Imperial announces first quarter 2020 financial and operating results

CALGARY, Alberta - Imperial Oil Limited (TSX:IMO): Focused on worker health and safety while maintaining energy supply for Canadians during pandemic Financial results impacted by COVID-19 and depressed March crude prices Proactively adjusted business and capital plans in response to market environment Record first quarter production at Kearl and refinery throughput at Strathcona Net loss of $188 million including non-cash charges of $301 million, driven by low quarter-end [Read more]

Chevron announces first quarter 2020 results

First quarter earnings of $3.6 billion Cash flow from operations of $4.7 billion Taking actions to protect the dividend, sustain long-term value and preserve cash Further reducing 2020 capital expenditure guidance to as low as $14 billion Completed asset sales in the Philippines and Azerbaijan SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) today reported earnings of $3.6 billion ($1.93 per share - diluted) for first quarter 2020, compared with earnings of $2.6 [Read more]

ConocoPhillips reports first-quarter 2020 results; announces quarterly dividend and additional curtailments

HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) today reported a first-quarter 2020 loss of $1.7 billion, or ($1.60) per share, compared with first-quarter 2019 earnings of $1.8 billion, or $1.60 per share. Excluding special items, first-quarter 2020 adjusted earnings were $0.5 billion, or $0.45 per share, compared with first-quarter 2019 adjusted earnings of $1.1 billion, or $1.00 per share. Special items for the current quarter were primarily driven by an unrealized loss on Cenovus Energy [Read more]

Exxon Mobil Corporation Declares Second Quarter Dividend

IRVING, Texas--(BUSINESS WIRE)--The Board of Directors of Exxon Mobil Corporation (NYSE:XOM) today declared a cash dividend of $0.87 cents per share on the Common Stock, payable on June 10, 2020 to shareholders of record of Common Stock at the close of business on May 13, 2020.   This second quarter dividend is at the same level as the dividend paid in the first quarter of 2020. Through its dividends, the corporation has shared its success with its shareholders for more than 100 [Read more]