Released February 23, 2021 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
EARNINGS REPORTS
Marathon Oil Widens Net Loss, Announces 2021 Capital Budget - Marathon Oil (NYSE:MRO) reported a fourth-quarter 2020 net loss of $338 million, compared with a loss of $20 million in fourth-quarter 2019. The company announced a $1 billion capital expenditure budget for 2021. (PR Newswire)
CRUDE OIL
Oil Jumps Almost 4% - Oil prices rose nearly 4% on Monday, boosted by the expected slow return of U.S. crude output after last week's deep freeze in Texas shut in production. U.S. producers shut anywhere from 2 million to 4 million barrels per day of oil output due to cold weather in Texas and other oil producing states, and the unusually cold conditions may have damaged installations that could keep output offline longer than expected. Brent crude settled at $65.24 a barrel, rising $2.33, or 3.7%, while U.S. oil settled at $61.49 a barrel, jumping $2.25, or 3.8%. (Reuters)
PRODUCTION
Shale Producer Diamondback Says Deep Freeze to Knock Off Five Days of Output - Shale oil and gas producer Diamondback Energy (NASDAQ:FANG) said that recent winter storms that knocked out power to millions in Texas will remove about four to five days' worth of total production from its current quarter earnings, sending its shares down 1.6% after the bell. (Reuters)
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About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the trading, logistics and marketing communities. We are the number one source for information about electricity outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
EARNINGS REPORTS
Marathon Oil Widens Net Loss, Announces 2021 Capital Budget - Marathon Oil (NYSE:MRO) reported a fourth-quarter 2020 net loss of $338 million, compared with a loss of $20 million in fourth-quarter 2019. The company announced a $1 billion capital expenditure budget for 2021. (PR Newswire)
CRUDE OIL
Oil Jumps Almost 4% - Oil prices rose nearly 4% on Monday, boosted by the expected slow return of U.S. crude output after last week's deep freeze in Texas shut in production. U.S. producers shut anywhere from 2 million to 4 million barrels per day of oil output due to cold weather in Texas and other oil producing states, and the unusually cold conditions may have damaged installations that could keep output offline longer than expected. Brent crude settled at $65.24 a barrel, rising $2.33, or 3.7%, while U.S. oil settled at $61.49 a barrel, jumping $2.25, or 3.8%. (Reuters)
PRODUCTION
Shale Producer Diamondback Says Deep Freeze to Knock Off Five Days of Output - Shale oil and gas producer Diamondback Energy (NASDAQ:FANG) said that recent winter storms that knocked out power to millions in Texas will remove about four to five days' worth of total production from its current quarter earnings, sending its shares down 1.6% after the bell. (Reuters)
About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the trading, logistics and marketing communities. We are the number one source for information about electricity outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
