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Source Energy Addresses Turmoil in the Oil and Gas Industry

Source Energy Services Ltd. reported preliminary results for the three months ended March 31. For the first quarter, Source achieved quarterly volumes of 762,322 metric tons and revenue between CAD$93 million and CAD$98 million for the quarter.

Read more: Source Energy Addresses Turmoil in the Oil and Gas Industry

Smart Sand Announces First Quarter Results

Smart Sand Inc. announced results for the first quarter 2020. Revenues were $47.5 million in the first quarter of 2020, flat compared to fourth quarter of 2019 revenues of $47.7 million and a decrease of 8% compared to first quarter of 2019 revenues of $51.8 million.

Read more: Smart Sand Announces First Quarter Results

Halliburton Addresses COVID-19, Quarterly Results

Halliburton Co. announced a net loss of $1.0 billion, or $1.16 per diluted share, for the first quarter of 2020. This compares to net income for the first quarter of 2019 of $152 million, or $0.17 per diluted share. Adjusted net income for the first quarter of 2020, excluding impairments and other charges and a loss on the early extinguishment of debt, was $270 million, or $0.31 per diluted share. This compares to adjusted net income for the first quarter of 2019, excluding impairments and other charges, of $201 million, or $0.23 per diluted share.

Read more: Halliburton Addresses COVID-19, Quarterly Results

A Prediction for an Oil Recovery

David Messler, writing for oil.com, said that the perception that the global economic recovery has begun, and excess shale production will be reduced, is actually changing the market’s perception even now. Crude prices have rallied dramatically in the last few days.

Read more: A Prediction for an Oil Recovery