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BP, Iraq to Rehabilitate Kirkuk Oilfields After Years of Disputes
ZACKS· 2024-08-13 12:57
BP plc (BP) , the UK supermajor, has entered into a preliminary agreement with the government of Iraq to rehabilitate and develop four significant oil and gas fields in the northern Kirkuk region. This deal marks a renewed effort to boost production and reverse the decline in one of Iraq's most historically important oilfields. A New Chapter for Kirkuk's Oilfields The agreement followed a previous deal from 2013, which was focused on developing the giant Kirkuk field. However, it was put on hold due to the ...
The Top 3 Oil & Gas Stocks to Buy Now: Summer 2024
Investor Place· 2024-08-07 10:31
There's trouble brewing in the oil patch. Prices for crude oil in America are below $75 a barrel and at their lowest level in six months amid growing fears of a recession in the U.S. economy. West Texas Intermediate (WTI) crude oil, the U.S. standard, was trading as low as $71.92 a barrel on Aug. 5, though it has since rebounded to around $73 per barrel. WTI crude has now erased all of its gains for the year and is trading at its lowest level since the winter months, as markets anticipate that the U.S. econ ...
BP's High Free Cash Flow Yield And Efficient Capital Improvements Drive Confidence: Goldman Sachs
Benzinga· 2024-07-31 18:22
BP p.l.c. BP shares are trading higher today. Goldman Sachs analyst Michele Della Vigna revised estimates after the company reported second-quarter FY24 results yesterday. The British oil and gas giant reported sales and other operating revenues of $47.299 billion, missing the consensus of $52.925 billion. Also, Underlying RC profit per American Depositary Share (ADS) came in at $1.00, beating the consensus of $0.92. BP has announced a 10% increase in its interim dividend to 8.000 cents per ordinary share a ...
BP Beats Q2 Earnings Estimates, Hikes Quarterly Dividend
ZACKS· 2024-07-30 17:15
For the second quarter, BP reported a total production of 1,481 thousand barrels of oil equivalent per day (Mboe/d), up from the 1,369 MBoe/d recorded in the year-ago quarter. The metric also beat our estimate of 1,354.5 MBoe/d. BP sold liquids at $73.01 per barrel in the second quarter, up from the $69.19 reported in the prior-year period. The reported figure lagged our estimate of $76.85. The company sold natural gas at $2.02 per thousand cubic feet, declining from the $3.23 reported in the yearago quarte ...
BP(BP) - 2024 Q2 - Earnings Call Transcript
2024-07-30 16:12
Company Participants Conference Call Participants Craig Marshall So with that let me hand over to Murray for some brief opening remarks. Great. Thanks, Craig, and thanks to everyone for joining today. I'm in the room and I'm joined by Kate Thomson, CFO; Carol Howle, EVP, Trading and Shipping; and Emma Delaney, EVP Customers and Products, which luckily for me will provide me with the opportunity to pass all difficult questions to them today. You'll have heard from our video some real examples of us in action ...
BP(BP) - 2024 Q2 - Earnings Call Presentation
2024-07-30 11:59
everyone and thank you for your interest in bp's second quarter 2024 results. Today's video presentation features Murray Auchincloss, chief executive officer and Kate Thomson, chief financial officer. Before we begin today, let me draw your attention to our cautionary statement. Hello 3 2Q 2024 financial results Strong cash generation, growing distributions $8.1bn operating cash flow* –I $9.6bn EBITDA* –I $2.8bn underlying earnings –I +3.4% upstream production1 –I 96.1% upstream plant reliability*2 –I 96.4% ...
BP(BP) - 2024 Q2 - Quarterly Report
2024-07-30 11:29
Adjusted EBITDA* | --- | --- | --- | --- | --- | --- | |---------------------------|-------|-------|-------|-------|-------| | Total adjusted EBITDA | 2,639 | 3,154 | 3,639 | 5,793 | 8,534 | | Capital expenditure* | | | | | | | gas | 869 | 639 | 697 | 1,508 | 1,344 | | low carbon energy | 136 | 659 | 190 | 795 | 556 | | Total capital expenditure | 1,005 | 1,298 | 887 | 2,303 | 1,900 | | --- | --- | --- | --- | --- | |---------------------------------------|-----------------------------|--------------------- ...
6 Dividend Increases Expected In August 2024
Seeking Alpha· 2024-07-30 11:05
PM Images Why Dividend Increases Matter Actual Dividend Increases in July 2024 1. Stanley Black & Decker (SWK): 1.2% (BELOW Five-Year Average of 4.18%) 2. Cummins (CMI): 8.3% (ABOVE Five-Year Average of 8.08%) 3. J.M. Smucker (SJM): 1.9% (BELOW Five-Year Average of 4.51%) 4. Hershey's (HSY): No dividend increase as of 7/29/24 5. Cintas Corp. (CTAS): 15.6% (BELOW Five-Year Average of 21.37%) 6. Mondelez International (MDLZ): No dividend increase as of 7/29/24 7. Norfolk Southern Corp. (NSC): Did not announce ...
2 oil stocks Nicolás Maduro endorses
Finbold· 2024-07-29 14:14
After Nicolás Maduro won the presidential elections in Venezuela with strong challenges coming from the opposition, which believes the real results are different, the public has become more interested in which oil stocks he endorses, particularly considering the country's struggling oil industry. Indeed, Maduro's government has presided over an economic crash, a massive migration of Venezuela's population, as well as weakening diplomatic relations, leading the returning president to vow to make Venezuela le ...
BP Secures Funding for Advanced Green Hydrogen Plant in Germany
ZACKS· 2024-07-17 15:40
SM Energy Company (SM) is set to expand its oil-centered operations in the coming years, with an increasing focus on crude oil, especially in the Permian Basin and Eagle Ford regions. The company's attractive oil and gas investments should create long-term shareholder value. The Zacks Consensus Estimate for SM's 2024 and 2025 earnings per unit is pegged at $7.15 and $8.79, respectively. The company has a Zacks Style Score of A for Value. It has witnessed upward earnings estimate revisions for 2025 in the pa ...