May 4th, 2021
Oil and Gas Companies Continue to Post Billions in Revenue
The end of April brings the first quarterly report filings of 2021.
Quarterly financial reports for major oil and gas companies have shown companies beating consensus projections for the first quarter. Reviewing those documents shows the strengths and weaknesses of company positions for investors.
The reports have largely shown a bump in revenue. Exxon Mobile, for example, showed a first quarter revenue of $2.7 billion. Chevron (which recently sold out of its West Virginia Marcellus operations) posed $1.4 billion in revenue, while other local players Antero Resources and SWN posted revenues of $1.2 and 1.07 billion, respectively.
Still to come are reports from one of the larger players in the midstream market. The Williams Companies will offer their first quarter earnings reports in early May. Energy Transfer is also expected to soon make its report.
The consensus thus far still seems to be a market on the upswing. This should result in better royalty results for local landowners. Whether you are an investor or a royalty owner it is the time of year to start looking into the strength of the companies you are involved with.
Take the time to run through news reports and/or the companies’ own filings for some quick information.