net_left Kdata Phương Thức Thanh Toán
Phương Thức Thanh Toán

Third-quarter profits to sparkle for shale producers without hedges

By Liz Hampton (Reuters) - With oil and gas prices at multi-year highs, U.S. shale producers are poised to deliver the strongest earnings since the onset of the coronavirus...
Third-quarter profits to sparkle for shale producers without hedges © Reuters. FILE PHOTO: A work-over rig performs maintenance on an oil well in the Permian Basin oil production area near Wink, Texas U.S. August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford

By Liz Hampton

(Reuters) - With oil and gas prices at multi-year highs, U.S. shale producers are poised to deliver the strongest earnings since the onset of the coronavirus pandemic, so long as they didn't lock in sales tied to much lower prices.

Sky-high oil and gas prices will fill energy companies' bottom line, rewarding investors who hung on through the pandemic. U.S. crude averaged roughly $71 a barrel, almost 80% higher than year-ago levels, and natural gas sold for over $5 per million British Thermal Units (mmBTU), a price not seen since 2014.

The biggest oil and gas producers kick off results this week, with reports from EQT Corp (NYSE:EQT) and Hess Corp (NYSE:HES). Continental Resources (NYSE:CLR), Pioneer Natural Resources (NYSE:PXD) and EOG Resources (NYSE:EOG) will report the week after.

Pioneer's earnings per share could hit $3.94, up from 17 cents last year, and Continental earnings are estimated at $1.20, versus a loss of 16 cents a share the same period last year, according to Refinitiv IBES.

While commodity prices are an earnings elixir, some companies face charges to earnings from wrong-way bets due to hedges, or selling future output at prices below the market average.

EQT Corp, which hedged heavily, is anticipated to report a 5 cents per share loss, from a 15 cents per share loss in the third quarter of 2020. Pioneer Natural Resources on Monday warned it would report hedging losses of $501 million for the quarter, and over $2 billion in losses so far this year.

"The only thing that is going to be preventing a blowout quarter is the hedging situation," said Chris Duncan, an equity research analyst at Brandes Investment Partners, adding that some 50% of production volumes were hedged for the quarter.

Energy tech firm Enverus anticipates some $6 billion in aggregate pre-tax losses from third quarter commodity hedges among the 64 North American oil and gas producers it tracks. Those firms lost some $10.5 billion from derivatives in the first half of the year, according to Enverus data.

Enverus anticipates oil and gas producers to report free cash flow of $11.9 billion for the quarter, with loss-making hedge books reducing that value by 32%.

(Click here https://graphics.reuters.com/USA-OIL/OIL/jnpwewkjrpw for an earnings chart)

Shale producer EOG Resources recently warned it would report a loss of $494 million on its hedges. EQT Corp earlier this year said it hedged 80% of this year's output at below $3 per million British thermal units, well below market prices. Apache (NASDAQ:APA) parent APA Corp said it anticipated $37 million in losses.

"Overly hedging as some of these producers have done impairs their ability to be competitive in a rising price environment," said Josh Young, chief investment officer at energy investor Bison Interests.

Continental Resources, which limits its hedging, last quarter increased its dividend and resumed a $1 billion share repurchase program.

A spokesperson declined to comment.

While shareholders may lament missing out higher prices, hedges can help keep companies on secure financial footing, locking in prices to pay for drilling expenses.

"Credit investors we have spoken with lately are concerned that issuers may unwind their hedges," said John Kempf of credit firm Fitch Ratings. "Creditors do not want to assume price risk."

Hot Auto Trade Bot Phương Thức Thanh Toán
BROKERS ĐƯỢC CẤP PHÉP
net_home_top Ai VIF
29-03-2024 19:31:10 (UTC+7)

EUR/USD

1.0791

+0.0004 (+0.04%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (4)

Sell (3)

EUR/USD

1.0791

+0.0004 (+0.04%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (4)

Sell (3)

GBP/USD

1.2619

-0.0003 (-0.03%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (1)

Sell (6)

USD/JPY

151.34

-0.04 (-0.02%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (3)

Sell (5)

AUD/USD

0.6517

+0.0001 (+0.02%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (3)

USD/CAD

1.3546

+0.0008 (+0.06%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

EUR/JPY

163.27

+0.02 (+0.01%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (6)

EUR/CHF

0.9730

+0.0003 (+0.03%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (1)

Gold Futures

2,254.80

42.10 (1.90%)

Summary

Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (5)

Sell (0)

Silver Futures

25.100

+0.002 (+0.01%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Copper Futures

4.0115

-0.0003 (-0.01%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (7)

Sell (0)

Crude Oil WTI Futures

83.11

+1.76 (+2.16%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Brent Oil Futures

86.99

+0.04 (+0.05%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (3)

Natural Gas Futures

1.752

+0.034 (+1.98%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (0)

Sell (6)

US Coffee C Futures

188.53

-2.12 (-1.11%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Euro Stoxx 50

5,082.85

+1.11 (+0.02%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (6)

S&P 500

5,254.35

+5.86 (+0.11%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (3)

Sell (8)

DAX

18,504.51

+27.42 (+0.15%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

FTSE 100

7,952.62

+20.64 (+0.26%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Hang Seng

16,541.42

0.00 (0.00%)

Summary

Neutral

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (3)

Sell (1)

US Small Cap 2000

2,120.15

+5.80 (+0.27%)

Summary

Neutral

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (5)

Sell (4)

IBEX 35

11,074.60

-36.70 (-0.33%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (5)

BASF SE NA O.N.

52.930

-0.320 (-0.60%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (6)

Sell (1)

Bayer AG NA

28.43

+0.01 (+0.04%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (7)

Sell (1)

Allianz SE VNA O.N.

277.80

+0.35 (+0.13%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Adidas AG

207.00

+2.30 (+1.12%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (0)

Deutsche Lufthansa AG

7.281

+0.104 (+1.45%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (6)

Siemens AG Class N

176.96

+0.04 (+0.02%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

Deutsche Bank AG

14.582

-0.030 (-0.21%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

 EUR/USD1.0791↑ Buy
 GBP/USD1.2619Neutral
 USD/JPY151.34↑ Sell
 AUD/USD0.6517↑ Buy
 USD/CAD1.3546↑ Sell
 EUR/JPY163.27↑ Sell
 EUR/CHF0.9730↑ Buy
 Gold2,254.80Buy
 Silver25.100↑ Buy
 Copper4.0115↑ Buy
 Crude Oil WTI83.11↑ Buy
 Brent Oil86.99Neutral
 Natural Gas1.752↑ Sell
 US Coffee C188.53↑ Sell
 Euro Stoxx 505,082.85↑ Sell
 S&P 5005,254.35↑ Sell
 DAX18,504.51↑ Buy
 FTSE 1007,952.62↑ Sell
 Hang Seng16,541.42Neutral
 Small Cap 20002,120.15Neutral
 IBEX 3511,074.60↑ Sell
 BASF52.930↑ Buy
 Bayer28.43Buy
 Allianz277.80↑ Buy
 Adidas207.00↑ Buy
 Lufthansa7.281↑ Sell
 Siemens AG176.96↑ Buy
 Deutsche Bank AG14.582↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank7,910/ 8,080
(30/ 30) # 1,364
SJC HCM7,900/ 8,100
(0/ 0) # 1,384
SJC Hanoi7,900/ 8,102
(0/ 0) # 1,386
SJC Danang7,900/ 8,102
(0/ 0) # 1,386
SJC Nhatrang7,900/ 8,102
(0/ 0) # 1,386
SJC Cantho7,900/ 8,102
(0/ 0) # 1,386
Cập nhật 29-03-2024 19:31:14
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$2,232.75-1.61-0.07%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V24.69025.180
RON 95-III24.28024.760
E5 RON 92-II23.21023.670
DO 0.05S21.01021.430
DO 0,001S-V21.64022.070
Dầu hỏa 2-K21.26021.680
ↂ Giá dầu thô thế giới
WTI$82.82+5.390.07%
Brent$86.82+5.180.06%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD24.600,0024.970,00
EUR26.020,0327.447,78
GBP30.490,4131.787,64
JPY158,93168,22
KRW15,9119,28
Cập nhật lúc 18:53:13 29/03/2024
Xem bảng tỷ giá hối đoái
Phương Thức Thanh Toán