Market News

Valero Energy (VLO)

U.S. oil refiner Valero Energy said Friday it will permanently shut down its Delaware City, Delaware, refinery because of the weak economic conditions .
The U.S. refining sector has been hard hit this year as weak fuel demand due to the recession.

Nov 20 · 12:57:00 PM · Source: Company News Release
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by Larry Etter

Baker Hughes (BHI)

Data from oil-field services company Baker Hughes indicates that the number of rigs drilling for oil in the U.S. climbed this week, but the gas rig total slipped as producers curbed output in response to low prices.
The number of oil and gas rigs climbed to 1,101, up 23 rigs from the previous week. The number of gas rigs was 728, a decrease of six rigs from last week, while the oil rig count was 361, an increase of 29 rigs. The number of miscellaneous rigs was unchanged at 12 rigs. The number of gas rigs in use peaked at 1,606 in September 2008. Producers have reduced natural-gas drilling sharply over the past several months in response to falling prices, but the rig count has stabilized in recent weeks as producers bet on colder winter weather and an economic recovery that would spark demand for the fuel.

Nov 14 · 4:02:00 PM · Source: The Wall Street Journal · Related: Oil
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by Michael Oliveto

Devon Energy (DVN)

Devon Energy reported Q3 earnings of $1.13 per share on net income of $499 million versus $5.93 per share on net income of $2.6 billion in the year ago period.
"Year to date, Devon increased oil and gas production eight percent compared with 2008," commented President John Richels. "The performance of the company's oil and gas properties has continued to exceed our expectations throughout 2009."

Nov 4 · 3:59:00 PM · Source: Company News Release
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by Michael Oliveto

XTO Energy (XTO)

Oil company XTO Energy said third quarter earnings for the three months ended Sept. 30 dropped to $500 million, or 86 cents per share, from $521 million, or 94 cents per share, during the same period last year.

Nov 4 · 1:03:00 PM · Source: Company News Release
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by Larry Etter

Chevron (CVX)

Chevron announced that its Board of Directors declared a quarterly dividend of $0.68 cents per share, payable December 10, 2009 to holders of common stock as shown by the transfer records of the Company at the close of business November 18, 2009.

Nov 4 · 1:01:00 PM · Source: Reuters
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by Michael Oliveto

Arch Coal Inc. (ACI)

Arch Coal said Friday that it had net earnings of $25.2 million, or 16 cents per share, compared with year-earlier earnings of $97.8 million, or 68 cents per share. The St. Louis-based coal company said revenue fell to $615 million from $769.5 million.
The down numbers still beat analyst estimates.

Oct 30 · 9:06:00 AM · Source: Company News Release
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by Larry Etter

Chevron (CVX)

Chevron Corp. said Friday its third-quarter earnings fell to $3.8 billion, or $1.92 a share, from $7.9 billion, or $3.85 a share, in the year-ago period. Total revenues fell to $46.6 billion from $78.9 billion.
Earnings topped Street views by big margin

Oct 30 · 8:53:00 AM · Source: Company News Release
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by Larry Etter

Exxon Mobil (XOM)

ExxonMobil, the world's largest publicly-traded oil company, reported a profit of $4.73 billion, or 98 cents a share, down from $14.83 billion, or $2.85 a share, a year earlier. The prior year included a net $1.45 billion in gains. The company's revenue fell 40.3% to $82.3 billion.
Analysts had projected earnings of $1.03 a share on revenue of $85.16 billion.

Oct 29 · 10:51:00 AM · Source: Company News Release
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by Larry Etter

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