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“US crude oil pricing is evolving. Do you know what to solve for?”

“US crude oil pricing is evolving. Do you know what to solve for?”

Whether you’re buying or selling, the seaborne alternative to price US crude is here. Platts AGS See More. Solve More.

Strathcona formed from Waterous portfolio combine

Strathcona Resources Ltd. has been formed by the combination of two Waterous Energy Fund portfolio companies—Cona Resources Ltd., Alberta, and Strath Resources Ltd.

Remora Petroleum files Chapter 11

Remora Petroleum LP, Austin, Tex., filed a petition for Chapter 11 protection Aug. 12, in the Southern District of Texas, Houston Division, listing $85 million in debt.

Goodrich posts $15.7 million net loss for Q2, flat production y-o-y

Goodrich Petroleum Corp. has a net loss of $15.7 million in second-quarter 2020 versus net income of $11.8 million in the prior year period.

200812 Swn Montage Map

Southwestern, Montage combine to create third largest Appalachia producer

Southwestern Energy Co. has agreed to acquire Montage Resources Corp. in an all-stock transaction to create the third largest producer in Appalachia with expected total equivalent production of 3 bcfe/d.

Oxy posts Q2 net loss of $8.4 billion with impairments of $6.6 billion

Occidental Petroleum had a net loss attributable to common stockholders for second-quarter 2020 of $8.4 billion and an adjusted loss attributable to common stockholders of $1.6 billion compared with net income of $635 million for the year ago quarter.

EOG posts Q2 loss of $909 million, plans two additional Trinidad wells following discoveries

EOG Resources Inc. has narrowed its 2020 capex to $3.4-3.6B and raised its 2020 oil production guidance 4% to 402,600-409,200 b/d on lowered curtailments and plans to drill two additional wells in Trinidad over the remainder of the year.

Murphy Oil cuts additional $40 million from 2020 budget

Murphy Oil Corp. reduced its full year budget an additional $40 million at the midpoint, to $680-720 million, and with the revised budget, anticipates production volumes of 153,000-163,000 boe/d for the third quarter.

Parsley Energy exits Q2 with $400 million net loss

Parsley Energy Inc. reactivated two rigs and two frac spreads in July and, if prices do not deteriorate, the company anticipates moving to a stabilized activity level of four to five rigs and one to two frac spreads early in this year’s fourth quarter.

Marathon ends Q2 with $750 million net loss

Marathon Oil Corp. posted a second quarter 2020 net loss of $750 million, compared to net income of $1.1 billion for second-quarter 2019. Adjusted net loss was $477 million.

BP reports Q2 net loss of $16.8 billion on huge impairments, dividend halved

BP reported a net loss of $16.8 billion for the second quarter of 2020, compared with a profit of $1.8 billion for the same period a year earlier. The current quarter’s loss includes a net post-tax charge of $10.9 billion for non-operating items.

Gulfport posts second quarter net loss of $561 million

Gulfport Energy Corp. reported a net loss of $561.1 million for the second quarter of 2020. The company reported adjusted net income of $47.1 million for the quarter.

Devon Energy posts Q2 net loss of $670 million

Devon Energy Corp., Oklahoma City, posted a net loss of $670 million in second-quarter 2020 compared to a net loss of $1.8 billion in first-quarter 2020.

Diamondback posts Q2 net loss on $2.54 billion impairment

Diamondback Energy's second-quarter 2020 net loss of $2.39 billion includes a non-cash impairment charge of $2.54 billion as a result of the lower SEC pricing due to the sharp decline in commodity prices.