| US GAAP | US GAAP | US GAAP | US GAAP | |||||||||
| US GAAP | US GAAP | Effective | Effective | Pretax | Net | |||||||
| US GAAP | Income | US GAAP | US GAAP | Income | US GAAP | Income | Income | Income | Income | |||
| US Oil & Gas Corps | Pretax | Tax | Net | Pretax | Tax | Net | Tax | Tax | % Change | % Change | ||
| Market Caps Above $10 Bil | Income | Expense | Income | Income | Expense | Income | Rate | Rate | March Qtr | March Qtr | ||
| Releasing Their March 2018 | March Qtr | March Qtr | March Qtr | March Qtr | March Qtr | March Qtr | March Qtr | March Qtr | 2018 | 2018 | ||
| Quarter Earnings By 5-4-18 | 2018 | 2018 | 2018 | 2017 | 2017 | 2017 | 2018 | 2017 | vs 2017 | vs 2017 | ||
| mils $ | mils $ | mils $ | mils $ | mils $ | mils $ | |||||||
| Exxon Mobil | 7,240 | 2,457 | 4,783 | 5,918 | 1,828 | 4,090 | 33.9% | 30.9% | 22% | 17% | ||
| Chevron | 5,073 | 1,414 | 3,659 | 3,129 | 430 | 2,699 | 27.9% | 13.7% | 62% | 36% | ||
| ConocoPhillips | 1,776 | 876 | 900 | (232) | (831) | 599 | 49.3% | 358.2% | 866% | 50% | ||
| Concho Resources | 1,089 | 254 | 835 | 1,021 | 371 | 650 | 23.3% | 36.3% | 7% | 28% | ||
| Enterprise Products Partners LP | 917 | 5 | 912 | 777 | 6 | 771 | 0.5% | 0.8% | 18% | 18% | ||
| EOG Resources | 813 | 175 | 638 | 39 | 11 | 28 | 21.5% | 28.2% | 1985% | 2179% | ||
| Valero Energy | 731 | 149 | 582 | 433 | 112 | 321 | 20.4% | 25.9% | 69% | 81% | ||
| Phillips 66 | 717 | 132 | 585 | 797 | 234 | 563 | 18.4% | 29.4% | -10% | 4% | ||
| Kinder Morgan | 706 | 164 | 542 | 691 | 246 | 445 | 23.2% | 35.6% | 2% | 22% | ||
| Schlumberger Ltd | 643 | 113 | 530 | 334 | 50 | 284 | 17.6% | 15.0% | 93% | 87% | ||
| Cheniere Energy Inc | 615 | 15 | 600 | 172 | - | 172 | 2.4% | 0.0% | 258% | 249% | ||
| Noble Energy | 543 | (31) | 574 | 59 | 12 | 47 | -5.7% | 20.3% | 820% | 1121% | ||
| Marathon Oil | 524 | 168 | 356 | (16) | 34 | (50) | 32.1% |
NM
|
3375% | 812% | ||
| MPLX LP | 427 | 4 | 423 | 187 | - | 187 | 0.9% | 0.0% | 128% | 126% | ||
| Apache Corp | 388 | 182 | 206 | 538 | 271 | 267 | 46.9% | 50.4% | -28% | -23% | ||
| Williams Partners LP | 384 | - | 384 | 663 | 3 | 660 | 0.0% | 0.5% | -42% | -42% | ||
| HollyFrontier | 374 | 85 | 289 | (55) | (17) | (38) | 22.7% | 30.9% | 780% | 861% | ||
| ONEOK | 342 | 76 | 266 | 241 | 55 | 186 | 22.2% | 22.8% | 42% | 43% | ||
| Cheniere Energy Partners LP | 335 | - | 335 | 47 | - | 47 | 0.0% | 0.0% | 613% | 613% | ||
| Williams Companies | 325 | 55 | 270 | 606 | 37 | 569 | 16.9% | 6.1% | -46% | -53% | ||
| Continental Resources | 305 | 71 | 234 | 6 | 6 | - | 23.3% | 100.0% | 4983% |
NM
|
||
| Anadarko Petroleum | 300 | 126 | 174 | (178) | 97 | (275) | 42.0% | NM | 269% | 163% | ||
| Marathon Petroleum Corp | 257 | 22 | 235 | 142 | 41 | 101 | 8.6% | 28.9% | 81% | 133% | ||
| Pioneer Natural Resources | 228 | 50 | 178 | (73) | (31) | (42) | 21.9% | 42.5% | -412% | -524% | ||
| Magellan Midstream Partners LP | 212 | 1 | 211 | 224 | 1 | 223 | 0.5% | 0.4% | -5% | -5% | ||
| Halliburton | 189 | 142 | 47 | (57) | (25) | (32) | 75.1% | 43.9% |
NM
|
NM
|
||
| Cabot Oil & Gas | 157 | 40 | 117 | 169 | 63 | 106 | 25.5% | 37.3% | -7% | 10% | ||
| Targa Resources | 48 | 9 | 39 | (39) | 71 | (110) | 18.8% | NM | 223% | 135% | ||
| Hess Corp | 8 | 73 | (65) | (309) | (13) | (296) | 912.5% | 4.2% | 103% | 78% | ||
| National Oilwell Varco | (63) | 3 | (66) | (133) | (13) | (120) | NM | 9.8% | 53% | 45% | ||
| Baker Hughes GE | (105) | (86) | (19) | 74 | 8 | 66 | 81.9% | 10.8% |
NM
|
NM
|
||
| Devon Energy | (181) | (28) | (153) | 325 | 8 | 317 | 15.5% | 2.5% | -156% | -148% | ||
| EQT Corp | (1,784) | (339) | (1,445) | 351 | 101 | 250 | 19.0% | 28.8% | -608% | -678% | ||
| Total all 33 | 23,533 | 6,377 | 17,156 | 15,851 | 3,166 | 12,685 | 27.1% | 20.0% | 48% | 35% |
Saturday, May 5, 2018
The 33 Largest US Oil & Gas Companies Reporting Their March 2018 Earnings By 5-4-18 Generated a Total March 2018 Quarter Pretax Income Increase of a Whopping 48%, 10% Higher Than Any Other Major US Sector ........................................................................................ These 33 US Oil & Gas Companies Generated a March 2018 Quarter Total After-Tax Net Income Increase of 35%, Lower Than the Related 48% Total Pretax Income Increase Due Mainly To ConocoPhillips' $1.0 Bil Tax Benefit in the March 2017 Quarter Related To Its Disposition of Canadian Assets and to Chevron and ExxonMobil Both Having a Very High Mix of Their March 2018 Quarter Worldwide Pretax Profit Earned in Their Foreign Upstream Operations Where the Income Tax Rate Was Higher Than That in the US ........................................................................................ There Are 10 More Oil & Gas Companies Reporting Their March 2018 Quarter Earnings In the Next Week and Thus These Total Earnings Growth Percentages Will Change
From a review of SEC filings, the below chart shows the US GAAP Pretax Income (Loss) From Continuing Operations, the US GAAP Net Income (Loss) From Continuing Operations and the related US GAAP Income Tax Expense for the March 2018 and 2017 Quarters for all US Oil & Gas Companies with stock market caps above $10 Bil on April 30, 2018 and which have released their March 2018 earnings by May 4, 2018.
