Most analysts are pretty pessimistic about what is forthcoming. The third quarter encompassed a period of time in which both oil and natural gas prices fell. It also saw investor scrutiny continue to rise, the rig count continue to fall, and production gains showed more signs of flattening out.
So far, it hasn’t been all bad news. ConocoPhillips beat consensus estimates, in large part because of a big asset sale, which it used to increase shareholder payouts. Notably, the company’s shale output jumped by 21 percent, year-on-year.
BP also exceeded expectations, reporting underlying replacement-cost profit of $2.3 billion.
Solo Oil PLC (LON:SOLO) is an investment company with the target of acquiring a diverse global portfolio of direct and indirect interests in exploration, development and production oil and gas assets, both on-shore and off-shore.