The 40 US Oil and Gas Companies With Stock Market Caps Above $10 Bil Posted Total Pretax Earnings Growth of a Blistering 462% in Their December 2018 Quarter, an Acceleration of Their 184% Growth in the September 2018 Quarter.
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When the Largest US Oil & Gas Cos, Mostly in Texas, Post Total Pretax Profits Which Increase By 462% Like This, the Russian Economy and the Saudi Arabian Economy, Which are Both Predominately Tied to Oil & Gas, Also Both Improve Precipitously in Lock-Step with the Largest US Oil & Gas Cos.
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When You Have a Presidential Administration, Which Controlled Both the US Senate and the US House, and Which Decided To Cherry Pick the Economic Winners and Losers, These Clearly Unfair and Undesirable Economic Results Are What You Get.
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From a review of company SEC filings and of MSN Money individual company common stock information, I found 40 US Oil & Gas Companies with stock market caps sometime in 2018 of more than $10 Bil and with December 2018 Quarter Ends.
My Focus is on Pretax Income rather than on After-Tax Net Income because Corporate Income Taxes are simply a transfer of financial wealth between US Corporations and the US Federal, US State and Foreign Governments. It has nothing whatsoever to do with Company Operating Performance.
The chart below shows the Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for each quarter of 2018 as compared with that of the prior year quarter of 2017 for each of these 40 US Oil & Gas Companies.
| US | US | US | US | US | US | US | US | ||||||||
| GAAP | GAAP | GAAP | GAAP | GAAP | GAAP | GAAP | GAAP | ||||||||
| Pretax | Pretax | Pretax | Pretax | Pretax | Pretax | Pretax | Pretax | ||||||||
| Income | Income | Income | Income | Income | Income | Income | Income | ||||||||
| US Oil and Gas Cos | (Loss) | (Loss) | (Loss) | (Loss) | (Loss) | (Loss) | (Loss) | (Loss) | |||||||
| Stock Market Caps > $10 Bil | Dec | Dec | Better | Sept | Sept | Better | June | June | Better | March | March | Better | |||
| With Dec Quarter Ends | 2018 | 2017 | (Worse) | 2018 | 2017 | (Worse) | 2018 | 2017 | (Worse) | 2018 | 2017 | (Worse) | |||
| Releasing Dec 2018 Qtr | Quarter | Quarter | % | Quarter | Quarter | % | Quarter | Quarter | % | Quarter | Quarter | % | |||
| Earnings By Feb 28, 2019 | End | End | Change | End | End | Change | End | End | Change | End | End | Change | |||
| mils $ | mils $ | mils $ | mils $ | mils $ | mils $ | mils $ | mils $ | ||||||||
| Exxon Mobil | 8,121 | 3,017 | 169% | 9,080 | 5,583 | 63% | 6,512 | 4,156 | 57% | 7,240 | 5,918 | 22% | |||
| Chevron | 4,898 | 1,481 | 231% | 5,699 | 2,658 | 114% | 4,905 | 1,953 | 151% | 5,073 | 3,129 | 62% | |||
| Phillips 66 | 2,918 | 654 | 346% | 1,975 | 1,256 | 57% | 1,835 | 797 | 130% | 717 | 797 | -10% | |||
| ConocoPhillips | 2,672 | 1,325 | 102% | 2,906 | 653 | 345% | 2,619 | (4,361) | NM | 1,776 | (232) | NM | |||
| Concho Resources | 1,891 | (206) | NM | (268) | (179) | NM | 177 | 245 | -28% | 1,089 | 1,021 | 7% | |||
| Marathon Petroleum Corp | 1,632 | 959 | 70% | 1,163 | 1,419 | -18% | 1,516 | 824 | 84% | 257 | 142 | 81% | |||
| Devon Energy | 1,484 | 46 | 3126% | 162 | 207 | -22% | (481) | 207 | -332% | (181) | 325 | -156% | |||
| Enterprise Products Partners LP | 1,331 | 803 | 66% | 1,346 | 627 | 115% | 706 | 675 | 5% | 917 | 777 | 18% | |||
| Plains All America | 1,280 | 205 | 524% | 700 | (11) | NM | 84 | 199 | -58% | 349 | 510 | -32% | |||
| Energy Transfer Operating LP | 1,237 | (278) | NM | 1,297 | 603 | 115% | 671 | 375 | 79% | 839 | 448 | 87% | |||
| Valero Energy | 1,227 | 765 | 60% | 1,150 | 1,241 | -7% | 1,124 | 768 | 46% | 731 | 433 | 69% | |||
| EOG Resources | 1,088 | 413 | 163% | 1,446 | 146 | 890% | 893 | 62 | 1340% | 813 | 39 | 1985% | |||
| Energy Transfer LP | 850 | (589) | NM | 1,341 | 584 | 130% | 727 | 347 | 110% | 716 | 368 | 95% | |||
| Occidental Petroleum | 832 | 66 | 1161% | 2,492 | 215 | 1059% | 1,150 | 792 | 45% | 1,047 | 195 | 437% | |||
| Kinder Morgan | 775 | 324 | 139% | 1,201 | 547 | 120% | (176) | 599 | -129% | 706 | 691 | 2% | |||
| Schlumberger Ltd | 648 | (2,210) | NM | 787 | 677 | 16% | 547 | 17 | 3118% | 643 | 334 | 93% | |||
| Baker Hughes GE | 474 | (147) | NM | 148 | (243) | NM | 24 | (30) | NM | (105) | 74 | -242% | |||
| Halliburton | 458 | 244 | 88% | 534 | 496 | 8% | 633 | (1) | NM | 189 | (57) | NM | |||
| MPLX LP | 439 | 239 | 84% | 519 | 218 | 138% | 457 | 193 | 137% | 427 | 187 | 128% | |||
| Pioneer Natural Resources | 412 | 62 | 565% | 529 | (34) | NM | 82 | 354 | -77% | 228 | (73) | NM | |||
| Marathon Oil | 406 | 132 | 208% | 357 | (458) | NM | 140 | (112) | NM | 524 | (16) | NM | |||
| Cimarex Energy | 404 | 174 | 132% | 193 | 143 | 35% | 183 | 156 | 17% | 244 | 209 | 17% | |||
| Diamondback Energy | 392 | 106 | 270% | 202 | 83 | 143% | 295 | 166 | 78% | 225 | 143 | 57% | |||
| ONEOK | 390 | 316 | 23% | 417 | 264 | 58% | 370 | 220 | 68% | 342 | 241 | 42% | |||
| Anadarko Petroleum | 360 | (72) | NM | 683 | (1,066) | NM | 142 | (372) | NM | 300 | (178) | NM | |||
| Cheniere Energy Partners LP | 351 | 374 | -6% | 307 | 23 | 1235% | 281 | 46 | 511% | 335 | 47 | 613% | |||
| Cabot Oil & Gas | 325 | (459) | NM | 162 | 25 | 548% | 55 | 37 | 49% | 157 | 169 | -7% | |||
| Continental Resources | 262 | 234 | 12% | 412 | 17 | 2324% | 318 | (101) | NM | 305 | 6 | 4983% | |||
| Magellan Midstream Partners LP | 239 | 310 | -23% | 596 | 199 | 199% | 211 | 216 | -2% | 212 | 224 | -5% | |||
| Cheniere Energy Inc | 235 | 284 | -17% | 230 | 88 | 161% | 147 | 22 | 568% | 615 | 172 | 258% | |||
| HollyFrontier | 192 | 371 | -48% | 478 | 446 | 7% | 480 | 106 | 353% | 374 | (55) | NM | |||
| Andeavor Logistics LP | 171 | 53 | 223% | 166 | 90 | 84% | 148 | 111 | 33% | 139 | 92 | 51% | |||
| Parsley Energy | 82 | 25 | 228% | 167 | (20) | -935% | 174 | 68 | 156% | 129 | 57 | 126% | |||
| Hess Corp | 61 | (2,477) | NM | 124 | (2,567) | NM | 27 | (425) | NM | 8 | (309) | NM | |||
| National Oilwell Varco | 41 | (138) | NM | 33 | (40) | NM | 30 | (91) | NM | (63) | (133) | NM | |||
| Targa Resources | (120) | 34 | -453% | (15) | (253) | NM | 154 | (35) | NM | 48 | (39) | NM | |||
| Apache Corp | (344) | 278 | -224% | 406 | 93 | 337% | 508 | 9 | 5544% | 388 | 538 | -28% | |||
| Williams Companies | (705) | (478) | NM | 390 | 149 | 162% | 321 | 258 | 24% | 325 | 606 | -46% | |||
| Noble Energy | (720) | 292 | -347% | 307 | (208) | NM | 10 | (2,334) | NM | 543 | 59 | 820% | |||
| Spectra Energy Partners | NA | NA | NA | 380 | 475 | -20% | 398 | 372 | 7% | 423 | 359 | 18% | |||
| Total all 40 US Oil & Gas Cos | 36,689 | 6,532 | 462% | 40,202 | 14,146 | 184% | 28,397 | 6,488 | 338% | 29,044 | 17,218 | 69% |
