The world’s biggest oil companies are on a winning streak of rising profits and soaring cash flow. Investors are expecting to reap the rewards.
Royal Dutch Shell PLC opened Big Oil’s earnings period on Thursday, nearly tripling its net profit in the second quarter from a year earlier. Shell said its quarterly profit on a current cost-of-supplies basis, a number similar to the net income that U.S. oil companies report—was $5.2 billion, up from $1.9 billion a year earlier.
Diversified Gas & Oil Plc (LON:DGO) owns and operates gas and oil producing wells in the Appalachian Basin in the United States. The Company’s operations are based in the neighbouring states of Pennsylvania, Ohio and West Virginia, which cover part of the largest and oldest hydrocarbon producing field in the US, known as the Appalachian Basin.