| Statoil Q3 Earnings, Revenues Fall Y/Y on Lower Oil Price | |
| | |
|
Statoil ASA’s STO third-quarter 2015 adjusted earnings of 14 cents per ADR declined considerably from the year-earlier adjusted earnings of 44 cents due to lower oil price realizations.
Adjusted net income after tax came in at NOK 3.7 billion ($0.45 billion) in the third quarter, lower than the prior-year quarter level of NOK 9.1 billion ($1.46 billion).
In the reported quarter, total revenue plummeted 23.2% year over year to NOK 112.6 billion ($13.7 billion) from NOK 146.6 billion ($23.5 billion) in the year-ago quarter.
Operational Performance
In the reported quarter, total equity production of liquids and gas increased 4.4% year over year to 1,909 million barrels of oil equivalent per day (MMBOE/d). The upside was driven by greater utilization of the gas value chain to gain more from the NCS as well as commissioning and acceleration of activities on various fields. Of the total quarterly output, 60% was liquids and 40% was natural gas.
In the reported quarter, total entitlement production of liquids and gas increased 7% to 1,741 MMBOE/d (57% liquids and 43% natural gas), primarily on higher equity production and a lower negative effect from production-sharing agreements.
Average daily oil and gas equity production averaged 1,174 million barrels of oil equivalent per day (MMBOE/d) in the third quarter, up 8% year over year.
Average daily oil and gas entitlement production was 567 MMBOE/d in the quarter, up 5% from the year-earlier period.
The company's realized liquids prices averaged $43.5 per barrel, down 52% year over year. Natural gas price realization averaged NOK 2.17 and NOK 0.61 per standard cubic meter in Europe and North America, respectively.
Financials
The company has cash and cash equivalents of NOK 65.7 billion at the end of the reported quarter as against NOK 77.8 billion at the end of third-quarter 2014. Operating cash flow was NOK 42.9 billion in the quarter. Net debt-to-capitalization ratio was 42.5% compared with 30.5% in the year-ago quarter.
Outlook
The company has projected organic capital expenditures of around $16.5 billion and exploration activity of about $3 billion for 2015. Statoil plans to complete drilling of around 50 wells during the year.
Currently, Statoil carries a Zacks Rank #4 (Sell). Some better-ranked stocks from the same space are Natural Gas Services Group Inc. NGS, Matrix Service Company MTRX and Seadrill Partners L.P SDLP. Each of these stocks sports a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report STATOIL ASA-ADR (STO): Free Stock Analysis Report MATRIX SERVICE (MTRX): Free Stock Analysis Report SEADRILL PTNRS (SDLP): Free Stock Analysis Report NATURAL GAS SVC (NGS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
|
|
|
Natural Gas Services Group Inc.
|
|
|
CODE : NGS |
ISIN : US63886Q1094 |
|
| |
ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Natural Gas Services est une société de production minière et de pétrole basée aux Etats-Unis D'Amerique. Natural Gas Services est cotée aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 303,7 millions US$ (285,3 millions €). La valeur de son action a atteint son plus bas niveau récent le 11 août 2023 à 10,00 US$, et son plus haut niveau récent le 19 avril 2024 à 23,39 US$. Natural Gas Services possède 12 982 262 actions en circulation. |