The impact of the coronavirus and the oil crisis on some of the nation’s leading oil and gas companies will be made readily evident this week and next week.
BP reports its first-quarter earnings on Tuesday and Shell will follow suit on Thursday with giants ExxonMobil and Chevron on Friday. Those reports will give investors a detailed but certainly not last look at how the price collapse and the pandemic has affected the finances of the companies.
Midstream provider ONEOK will release its report on Tuesday, April 28 after the close of markets, then hold a conference call on Wednesday with executives discussing the results.
Tulsa-based Helmerich & Payne will also announced its earnings on Friday, May 1.
Some Oklahoma companies will announce their earnings reports in the coming days. Cheniere Energy, based in Houston and operator of the new Midship pipeline carrying gas from Kingfisher south to the state line will release its report on Thursday.
Next week, we’ll learn the financial standings of Williams Companies on Monday, Devon Energy on Tuesday, LSB Industries, Phillips 66 and Enable Midstream on Wednesday.
OGE, Laredo Petroleum and Civeo will release their reports on Thursday, May 7.
Many companies in the oil and gas industry have already announced cubacks.
“They are all expected to detail additional spending cuts, and investors will be watching closely for how those companies plan to manage dividends,” Reuters reports of the major’ upcoming Q1 results.