Earnings season continues.....Royal Dutch Shell [RDS.A], Statoil [STO] and Plains Exploration [PXP]

Royal Dutch Shell [RDS.A] Chief Executive Officer Peter Voser commented: “Our industry continues to see significant energy price volatility as a result of economic and political developments. Oil prices have fallen recently but Shell is implementing a long term, competitive and innovative strategy against this volatile backdrop.”

“Shell's underlying CCS earnings were $7.5 billion for the quarter, a 2% increase in CCS earnings per share from the first quarter of 2012. These results were underpinned by Shell's growth projects, an improvement in downstream profitability, and were delivered despite a difficult security environment in Nigeria.”

“Our profits pay for Shell's dividends and investment in new projects to ensure affordable and reliable energy supplies for our customers, and to add value for our shareholders.”

“Shell is investing for profitable growth, whilst maintaining strong capital discipline. We are developing some 30 new projects and maturing a series of further opportunities for investment. So far this year, we’ve seen the growth impact of recent start ups and we took four final investment decisions in petrochemicals, deepwater, and LNG”......Read the entire Shell earnings report.

Statoil [STO] president and CEO Helge Lundfirst announced 1st quarter 2013 net operating income was NOK 38.0 billion. Adjusted earnings were NOK 42.4 billion. "We deliver financial results impacted by lower production and reduced prices. We continue to deliver good industrial progress according to plan. As previously announced, production in 2013 will be lower than in 2012. We are on track to deliver 2 to 3% average annual production growth from 2012 to 2016 and production above 2.5 million barrels of oil equivalent per day in 2020," says Helge Lund, Statoil's president and CEO.

In addition to the expected lower production in the quarter, production was impacted by operational disruptions at Snøhvit, Troll and Peregrino. Statoil's net operating income was also impacted by a provision related to the Cove Point terminal in the US. Adjusted earnings [5] were down 28% compared to the first quarter 2012. The underlying cost development in the period is stable.

Statoil's cash flows provided by operating activities decreased by 19% compared to the first quarter of 2012, explained by the lower production and reduced prices......Read the entire Statoil earnings report.

Plains Exploration & Production Company (PXP) announces 2013 first-quarter financial and operating results. PXP reported first-quarter revenues of $1.2 billion and net income attributable to common stockholders of $22.6 million, or $0.17 per diluted share, compared to revenues of $524.3 million and a net loss attributable to common stockholders of $82.3 million, or $0.64 per diluted share, for the first-quarter of 2012.

The first quarter 2013 net income attributable to common stockholders includes certain items affecting the comparability of operating results. Those items consist of realized and unrealized gains and losses on our mark to market derivative contracts resulting in a net loss of $202.0 million due in large part to higher crude oil forward prices, a $15.5 million unrealized gain on investment in McMoRan Exploration Co. common stock, debt extinguishment costs of $18.1 million, and other items. When considering these items, PXP reports adjusted net income attributable to common stockholders of $139.6 million, or $1.05 per diluted share (a non-GAAP measure), compared to $77.0 million, or $0.58 per diluted share, for the same period in 2012.

A reconciliation of non GAAP financial measures used in this release to comparable GAAP financial measures is included with the financial tables. PXP's 2013 first-quarter daily sales volumes averaged 170.4 thousand BOE per day compared to 87.9 thousand BOE in the first quarter of 2012......Read the entire Plains Exploration earnings report.


Get the service fund managers rely on everyday.....OptionsMD is open!

Wednesday's earnings....Devon Energy [DVN], Murply Oil Corp. [MUR] and Phillips 66 [PSX]

Phillips 66 (NYSE: PSX), an energy manufacturing and logistics company, announces first quarter earnings of $1.4 billion compared with earnings of $636 million in the first quarter of 2012. Adjusted earnings were $1.4 billion, an increase of $617 million from the first quarter of 2012.

“We achieved strong financial results in the first quarter by capturing favorable chemicals and refining margins,” said Greg Garland, chairman and chief executive officer. “Operating excellence is our top priority, and in the first quarter we continued to improve upon our solid safety and environmental performance. We also are investing in the continued growth of our business. Our plans for a new natural gas liquids fractionator on the Gulf Coast reinforce our commitment to the American energy landscape and highlight our unique opportunities across the downstream value chain.”

“Increasing shareholder distributions remains a key component of our strategy and value proposition. During the quarter, we paid an increased dividend and repurchased $382 million of stock as part of our $2 billion share repurchase program. Since the company’s inception a year ago, we have returned $1.2 billion of capital to shareholders through dividends and share repurchases,” Garland concluded......Read the entire Phillips 66 earnings report.

Devon Energy Corporation (NYSE:DVN) today reported a net loss of $1.3 billion or $3.34 per common share ($3.34 per diluted share) for the quarter ended March 31, 2013. The quarterly loss was attributable to a $1.9 billion non cash asset impairment charge primarily related to lower oil and natural gas liquids pricing. Adjusting for this non cash charge and other items securities analysts typically exclude from their published estimates, the company earned $270 million or $0.66 per diluted share in the first quarter of 2013.

Devon continued to deliver strong oil production growth in the first quarter of 2013. Companywide oil production averaged 162,000 barrels per day, a 14 percent increase compared to the first quarter of 2012 and an 8 percent increase over the fourth quarter of 2012. Driven by the Permian Basin, the most significant growth came from the company’s U.S. operations, where oil production increased 23 percent year over year.

Total production of oil, natural gas and natural gas liquids increased to an average of 687,000 oil equivalent barrels (Boe) per day in the first quarter. This exceeded the top end of the company’s guidance by 2,000 barrels per day. First quarter production benefited from better-than-expected results across several core development assets, including Jackfish and Cana-Woodford......Read the entire Devon Energy earnings report.

Murphy Oil Corp. (NYSE: MUR) announced today that net income in the first quarter of 2013 was $360.6 million ($1.88 per diluted share), compared to net income of $290.1 million ($1.49 per diluted share) in the first quarter of 2012. The first quarter of 2013 included income from discontinued operations of $152.6 million ($0.80 per diluted share) compared to income of $8.6 million ($0.05 per diluted share) in 2012.

The 2013 discontinued operations results primarily related to a gain on sale of two oil and natural gas properties in the United Kingdom during the quarter. Income from continuing operations was $208.0 million ($1.08 per diluted share) in the first quarter 2013, down from $281.5 million ($1.44 per diluted share) in the 2012 quarter.

Income from continuing operations declined in the 2013 quarter compared to 2012 due primarily to higher expenses for exploration, administration, financing and income taxes. Better results for the Company’s downstream operations partially offset these higher expenses......Read the entire Murphy Oil Corp. earnings report.


Get the same help fund managers use to trade commodities.....OptionsMD is Open!
 

Does this concern you? Let's look at the "Macro Trend of the Markets"

Great post from our trading partner Doc Severson this morning.....

The Bureau of Labor Statistics stated 60% more seniors are working today than they were 10 years ago. Isn't that shocking? There are some clear reasons for this.

When I was a kid, I was told to "save for retirement" and invest in the stock market. This was good advice when bank interest rates were upwards of 10%, and you could count on the S&P making regular advancements. But over the last 13 years, people are only now starting to see the writing on the wall.

Back in the day, the macro trend of the markets steadily climbed from the mid-70s UNTIL the peak in 2000.

But since the crash in 2000, we've seen nothing but sideways trading for the last 13 years and interest rates at an all time low. During the same time, we also had two major crashes, and well.....who knows what could happen by the end of the year.

So what's next?

I'd rather not pretend to predict the market. Instead, I'll continue to trade a robust trading plan, proven to generate a consistent monthly income during the same time most people have struggled.

It's a system that's taken me years to develop, and is uniquely designed to use a combination of non-directional strategies, semi directional strategies, and directional strategies. This way your trading results are independent of market direction!

Not only will I teach you how to trade these trading strategies, when you enroll in OptionsMD today, I'll take you by the hand to show you exactly what I plan to trade, how I plan to trade it, and let you see my open trades.

So what do you say?

Bottom line....If you want to learn how to make a consistent monthly income by protecting and growing your wealth Click here to join me inside of OptionsMD today!

Kinder Morgan Completes Acquisition of Copano Energy KMP CPNO

COT fund favorite Kinder Morgan Energy Partners (NYSE: KMP) today closed its previously announced acquisition of Houston based Copano Energy (NASDAQ:CPNO). KMP has acquired all of Copano’s outstanding units for a total purchase price of approximately $5 billion, including the assumption of debt. The transaction, which was approved by the Copano unitholders on April 30 (with more than 99 percent of the units that voted voting in favor of the transaction) and previously by the boards of directors of both companies, is a 100 percent unit for unit transaction with an exchange ratio of .4563 KMP units per Copano unit.

“We are delighted to complete this transaction, which will enable us to significantly expand our midstream services footprint and offer a wider array of services to our customers,” said KMP Chairman and CEO Richard D. Kinder. “We will now pursue incremental development in the Eagle Ford Shale play in South Texas, and gain entry into the Barnett Shale Combo in North Texas and the Mississippi Lime and Woodford shales in Oklahoma. The transaction is expected to be modestly accretive to KMP in 2013, given the partial year, and about $0.10 per unit accretive for at least the next five years beginning in 2014”......Read the entire Kinder Morgan press release.


OptionsMD Mentoring Program is now open for enrollment!

Tuesdays earnings.... Valero Energy [VLO] and Exco Resources [XCO]

EXCO Resources (NYSE:XCO) today announced first quarter results for 2013. Adjusted net income, a non GAAP measure adjusting for gains from asset sales, non cash gains or losses from derivative financial instruments (derivatives), non cash ceiling test write downs and other items typically not included by securities analysts in published estimates, was $0.13 per diluted share for the first quarter 2013 compared to $0.03 per diluted share for the first quarter2012.

Adjusted earnings before interest, taxes, depreciation, depletion and amortization, gains on asset sales, ceiling test write downs and other non cash income and expense items (adjusted EBITDA, a non GAAP measure) for the first quarter 2013 were $96 million compared with $111 million in the first quarter 2012.

GAAP results were net income of $158 million, or $0.74 per diluted share, for the first quarter 2013 compared with a net loss of $282 million, or $1.32 per diluted share, for the first quarter 2012. The first quarter 2013 includes a $187 million gain from the contribution of 74.5% of our interests in certain conventional properties to our partnership with Harbinger Group Inc. (HGI). The first quarter 2012 net loss was primarily due to a $276 million non-cash ceiling test writedown of oil and natural gas properties......Read the entire Exco Resources earnings report.

Valero Energy Corp. (NYSE:VLO) today reported net income attributable to Valero stockholders of $654 million, or $1.18 per share, for the first quarter of 2013 compared to a net loss attributable to Valero stockholders of $432 million, or $0.78 per share, for the first quarter of 2012. Included in the first quarter 2012 results was a noncash asset impairment loss of $605 million after taxes, or $1.09 per share, predominately related to the Aruba refinery.

First quarter 2013 operating income was $1.1 billion versus an operating loss of $244 million in the first quarter of 2012. Excluding the noncash asset impairment loss noted above, first quarter 2012 operating income was $367 million. The resulting increase in operating income of approximately $700 million in 2013 was primarily due to higher refining throughput margins in each of Valero's operating regions, except the U.S. West Coast. The increase in refining throughput margins was mainly due to an increase in margins for diesel and jet fuel and wider discounts on crude oil and feedstocks......Read the entire Valero Energy earnings report.


No reason to get left behind....The OptionsMD Mentoring Program is now available

No reason to get left behind....The OptionsMD Mentoring Program is now available

2013 will go down as the year that options trading became "the buzz" in the stock market world. And regardless of the claims made by the internet promoters or the talking heads and their guest on TV they sure didn't make it any easier to understand options trading or even where to get started.

One of our trading partners, underground Options trader Doc Severson, is opening a new version of his mentoring program. The OptionsMD Mentoring Program, and it is now available for the first time since he sold out over 6 months ago.

Whether you are new to trading options or you are an experienced fund manager you need to get on board for you or your clients sake.

If you know anything about Doc, then you know he's doing things with options trading that most people have never even heard of. And now, he's offering his mentoring program with an unbelievable one year 100% money back PLUS $500 performance guarantee.

This is the LAST time this year that Doc is offering a bonus package this huge. And the best part of all is the unlimited support provided by Doc and his staff. Who else can you turn to where you can get personal, unlimited support from this type of trader?

Click Here for Details

Lot's of talk out there about equities putting in a top at these levels. And professional fund managers aren't dealing with it on their own, why should you? If you're struggling with a topping market or not making the amount of money you think you should be making, there's nothing better than to be mentored by someone that really has a strategy that works no matter which way the market turns.

This is the first release like this where traders are sending us emails trying to get us to have Doc release it early to them. Because of the personal support that Doc and his team provide it truly is offered to a limited number of traders. That's not some marketing ploy we all see everyday on the internet. Once it's closed, it's closed.

Click here to find out what The OptionsMD Mentoring Program is all about.

See you in the markets!
Ray C. Parrish
The Crude Oil Trader


Just click here to get OptionsMD, it's LIVE!

Are you ready? Gold Traders and Investors Better Get Ready To Rumble!

We have talked about how gold, silver and gold mining stocks have been flying under the media radar for over a year and that they were not catching the attention of traders, investors and the public anymore. I also said it would take some sharp price action (breakdown or rally) for it to be front and center again on TV, Radio and Newspapers.

But since gold has plummeted 17.5% dropping from $1600 down to $1320 per ounce with silver and gold stocks falling also they are now headline news once again. This move has caused some serious damage to the charts when looking at it from a technical analysis point of view. Below are some basic analysis points that show a new swing trading entry point.

The Technical Traders Chart Analysis

Broken Support – Once a support level has been broken it becomes resistance. Gold is trading under a major resistance level.

Momentum Bursts - Since the April 15th low, gold has been setting up for another short selling entry point. Remember the market tends to move in bursts of three, seven or ten days then price reverses direction or pauses. It has now been 10 days.

Moving Average Resistance – Gold has worked its way up to the 20 day moving average which can act as resistance.

Bearish Inside Bars – This type of chart pattern points to lower prices. When there is a big down day followed by 3, 7 or 10 up days inside the price action of the down bar we can typically expect another sharp drop which tests the recent lows as shown with the arrow on the chart.



Gold Short Selling Conclusion:

In short, gold is setting up for a low risk entry point that should allow us to profit from lower gold prices. Using an inverse ETF like DZZ or even the gold mining stock inverse ETF DUST could be played. These funds go up in value as the price of gold falls.

While I expect gold to pullback, I do not think it will make another leg lower. Instead, a test of the recent low or pierce of the low by a few bucks then reverse and start building a bullish basing pattern before going higher.

From our trading partner Chris Vermeulen.

Click here to get his Book, free of charge, and "Learn How To Manage Your Trades, Money & Emotions"

Get a free sample of Chris' Trade Ideas

Monday's Earnings Reports.....Atlas Pipeline Partners [APL] and Ensco [ESV]

Atlas Pipeline Partners (NYSE: APL) today reported adjusted earnings before interest, income taxes, depreciation and amortization ("Adjusted EBITDA"), of $67.7 million for the first quarter of 2013, driven primarily by a continued increase in volumes across the Partnership's gathering and processing systems. Processed natural gas volumes averaged 1,033 million cubic feet per day ("MMCFD"), a 63% increase over the first quarter of 2012.

Distributable Cash Flow was $43.5 million for the first quarter of 2013, or $0.67 per average common limited partner unit, compared to $35.2 million for the prior year's first quarter. The Partnership recognized a net loss of $27.5 million for the first quarter of 2013, which included a $26.6 million loss on the early retirement of the Partnership's 8.75% Senior Notes due 2018, compared with net income of $6.5 million for the prior year first quarter.

Adjusted EBITDA and Distributable Cash Flow are non-GAAP financial measures, which are reconciled to their most directly comparable GAAP measures in the tables included at the end of this news release. The Partnership believes these measures provide a more accurate comparison of the operating results for the periods presented......Read the entire Atlas Pipeline Partners earnings report.

Ensco plc (NYSE: ESV) reported diluted earnings per share from continuing operations of $1.36 in first quarter 2013, compared to $1.20 per share in first quarter 2012. Discontinued operations primarily related to rigs and other assets no longer on the Company’s balance sheet resulted in a loss of $0.05 per share a year ago. Diluted earnings per share increased 18% year to year to $1.36 from $1.15 in first quarter 2012.

Earnings increased $52 million to $317 million and operating income grew 17% to $402 million on record revenues of $1.150 billion in first quarter 2013. These increases were driven by a $28,000 increase in the average day rate and a 6% increase in floater rig days as new rigs were added to the active fleet......Read the entire Ensco earnings report.

Make sure to catch all of Doc Severson's video series and download the PDF's while the links still work....

"The NEW Roadmap to Consistent Monthly Income"

Download the "NEW" Iron Condor Trading Strategy

Ever wonder why 70% of mutual fund managers can't beat the S&P?

Bullet Proof Trading.....The Roadmap to Consistent Monthly Income

Doc Severson just posted a report called "The NEW Road map to Consistent Monthly Income" where he exposes the real truth on diversification and why even some of the best trading strategies are under performing.

Click here to get this special report "The NEW Roadmap to Consistent Monthly Income"

And you'll be surprised because this has nothing to do with any other trading system you've seen advertised or the talking heads on CNBC, Bloomberg or Fox Business suggesting. Yet, it's so important that it should be kept on the desk of every trader in the world. And that's probably what you'll do since you can download this 60 minute presentation that includes a 14 page financial blueprint to access and use at anytime.

If you've been struggling with making money and just want to find a simpler way to manage your accounts and draw a regular paycheck you need to watch this video now. Doc's road map is broken down into a 4 step process that can almost bullet proof your income from ever getting slammed by the market again.

"The NEW Road map to Consistent Monthly Income"

After watching the presentation please feel free to leave a comment and let us [and our readers] know what you really think about Doc's new system. And since you can put this method right to work...no matter what the size of account is....we'll see you in the markets next week.

Ray C. Parrish
The Crude Oil Trader

Where is the Larger Bubble: the S&P 500 Index or U.S. Treasuries?

Today we have a plethora of companies reporting earnings and are moving through the 1st Quarter earnings season at a rapid pace. Thus far, earnings have been far from exciting and have made the previous 2013 forward earnings estimates laughable.

The only way we get to the proposed valuations is through multiple expansion which is simply going to require the Federal Reserve to continue to pump $85 billion into Treasury’s and MBS securities each month. I am confident they will comply.

There are a few analysts out there who are discussing the potential bubble forming in equities and other risk assets as Bernanke’s plan is working to the extent that asset prices are rising. However, even fewer analysts are pointing out that both retail and institutional money is constantly chasing yield at this point.

Simply take a look at the 2013 price action in high yield dividend paying stocks, high yield bonds, preferred stocks, and master limited partnerships. It is safe to say that a bubble has formed not just in equities, but in various fixed investments as well.

Consider the following chart of the S&P 500 Index (SPX) shown as the dotted trendline and Johnson & Johnson (JNJ) shown as the solid black line.....Read the entire article "Where is the Larger Bubble: the S&P 500 Index or U.S. Treasuries"


Click here to Download the 'NEW' Iron Condor Trading Strategy

Friday's Earnings.....Chevron [CVX], National Oilwell Varco [NOV] and Total [TOT]

Chevron Corporation (NYSE: CVX) today reported earnings of $6.2 billion ($3.18 per share – diluted) for the first quarter 2013, compared with $6.5 billion ($3.27 per share – diluted) in the 2012 first quarter. Sales and other operating revenues in the first quarter 2013 were $54 billion, down from $59 billion in the year - ago period, mainly due to lower prices for crude oil.

“Our first quarter earnings were strong, ”said Chairman and CEO John Watson. “Our consistent financial performance has enabled us to significantly increase the dividend again, and fund major development projects that are the foundation of the company’s future growth in production, earnings and cash flows.” “Our key development projects remain on track,” Watson added.

“Construction is progressing well on the Gorgon and Wheatstone LNG projects in Australia. Important milestones have been reached recently for our Jack/St. Malo and Big Foot deepwater projects in the Gulf of Mexico, and both remain on schedule for start - up in 2014”......Read the entire Chevron earnings report.

National Oilwell Varco (NYSE: NOV) today reported that for its first quarter ended March 31, 2013 it earned net income of $502 million, or $1.17 per fully diluted share, compared to fourth quarter ended December 31, 2012 net income of $668 million, or $1.56 per fully diluted share. The first quarter 2013 results included transaction costs primarily related to the Robbins & Myers acquisition and Venezuela currency devaluation charges, which combined for a total of $73 million in pre tax costs and charges. Excluding these costs and charges, earnings were $553 million, or $1.29 per fully diluted share.

Revenues for the first quarter of 2013 were $5.31 billion, a decrease of seven percent from the fourth quarter of 2012 and an increase of 23 percent from the first quarter of 2012. Operating profit for the quarter, excluding the transaction charges, was $816 million, or 15.4 percent of sales. Sequentially, first quarter operating profit decreased 14 percent, while year-over-year first quarter operating profit decreased seven percent......Read the entire National Oilwell Varco earnings report.

Total (TOT) reports 1st quarter adjusted net profit -7.1% to €2.86B, slightly below consensus of €2.95B. Net profit -58% to €1.54B, due to higher taxes and a €1.25B loss related to the sale of a Canadian oil sands project. Revenues -6% to €48.13B. Oil prices -5%. As expected, oil and gas output -2% to 2.32M barrels of oil equivalent a day, with the decline due to the shutdown of the U.K.'s Elgin-Franklin gas fields, natural decline rates, and maintenance. Remains confident of achieving targets. Total declares a 1st quarter dividend of $0.59 per share, unchanged from previous quarter. ADR timetable: Ex dividend date September 19th, record date September 23, Payment date October 15th......Read the entire Total earnings report.

Don't miss out while it's free...Download our "Iron Condor Strategy"

More earnings reports.....ExxonMobil [XOM], ConocoPhillips [COP], Hercules Offshore [HERO] and Occidental Petroleum [OXY]

Exxon Mobil (XOM) reports 1st quarter EPS of $2.12 beats by $0.07. Revenue of $108.8B misses by $11.03B. E&P earnings declined 9.8% to $7.04B as total oil and natural gas production fell 3.5% Y/Y to 4.395M boe/day. Refining and marketing earnings fell 2.6% to $1.55B while refining driven margins increased earnings by $780M. Chemical profits rose 62%; corporate and financing expenses fell sharply due to "favorable tax impacts." Shares -0.5% premarket.

Chairman Rex W. Tillerson comments....“ExxonMobil achieved strong results during the first quarter of 2013, while investing significantly to develop new energy supplies. ExxonMobil’s financial performance enables continued investment to deliver the energy needed to help meet growing demand, support economic growth, and raise living standards around the world......Read the entire ExxonMobil earnings report.

ConocoPhillips (NYSE: COP) today reported first-quarter 2013 earnings of $2.1 billion, or $1.73 per share, compared with first-quarter 2012 earnings of $2.9 billion, or $2.27 per share. First-quarter 2012 reported earnings included $0.7 billion from downstream operations prior to the separation of Phillips 66 on April 30, 2012.

Excluding special items, first-quarter 2013 adjusted earnings were $1.8 billion, or $1.42 per share, compared with first-quarter 2012 adjusted earnings of $1.8 billion, or $1.38 per share. Special items for the current quarter primarily related to asset sales and discontinued operations.

Following previous announcements to dispose of the company’s interests in Kashagan and the Algeria and Nigeria businesses, the associated earnings and production impacts for these assets have been reported as discontinued operations. This decreased adjusted earnings for first-quarter 2013 by $62 million, or $0.05 per share......Read the entire ConocoPhillips earnings report.

Hercules Offshore (Nasdaq: HERO) today reported net income of $35.2 million, or $0.22 per diluted share, on revenue of $205.3 million for the first quarter 2013, compared with a net loss of $38.3 million, or $0.28 per diluted share, on revenue of $143.3 million for the first quarter 2012. First quarter 2013 results include a non-cash tax gain of $37.7 million, or $0.24 per diluted share, relating to the Seahawk acquisition which was completed in April 2011.

John T. Rynd, Chief Executive Officer and President of Hercules Offshore stated, "Market conditions in the U.S. Gulf of Mexico remain strong, as dayrates continue to trend higher and contract backlog stays near record levels. Our first rig reactivation, the Hercules 209, is nearing completion, and we are assessing market demand for a second reactivation. Internationally, we continue to add scale and upgrade our global fleet. We recently commenced operations on the Hercules 266 under its long term contract, and closed on the acquisitions of the Hercules 267 (formerly Ben Avon) and the White Shark (formerly Titan 2).

These acquisitions demonstrate our ability to successfully deploy capital toward high return opportunities, while de-risking the investments with assets that have strong long term demand prospects and through long term contracts. We continue to look for acquisition opportunities to enhance our international footprint and high-grade our asset base"......Read the entire Hercules Offshore earnings report.

Occidental Petroleum Corporation (NYSE:OXY) announced income from continuing operations of $1.4 billion ($1.69 per diluted share) for the first quarter of 2013, compared with $1.6 billion ($1.92 per diluted share) for the first quarter of 2012. Net income for the first quarter of 2013 was also $1.4 billion ($1.68 per diluted share).

In announcing the results, Stephen I. Chazen, President and Chief Executive Officer, said, "Our first quarter domestic production of 478,000 barrels of oil equivalent per day, of which 342,000 barrels per day were liquids, set a record for the tenth consecutive quarter. Our total company production of 763,000 barrels of oil equivalent in the first quarter of 2013 was 8,000 barrels higher than production in first quarter of 2012.

"We executed well in the first quarter and to date are running ahead of our full-year objectives in our program to improve domestic operational and capital efficiencies. We have reduced both our domestic well and operating costs by about 19 percent relative to 2012. Overall, we generated cash flow from operations of $2.9 billion before changes in working capital for the first quarter of 2013 and invested $2.1 billion in capital expenditures"......Read the entire Occidental Petroleum earnings report.

Click here to download our latest version of the "Iron Condor Trading Strategy"

Are you trading with us....or against us?

Our trading partner Doc Severson is giving away one of his favorite options trading strategies. He just released a few copies of this new & revised version of  The Iron Condor Trading Strategy as a way to restore hope to struggling traders. This is not a promotional tease, it's a 100% fully disclosed options trading strategy.

Having looked at the new version myself I can tell you that you are going to want to reference this material over and over so be sure to save it to your computer while the link is still live.

With it's limited availability you'll want to click here to Download Your FREE Iron Condor Trading Strategy PDF file right away.

Doc offers a really unique perspective on options trading and chances are this will be the first time you've ever seen a trading strategy like this before. This system is so simple that you'll be able to go into the markets and trade it right away. This strategy is detailed in an easy to understand training video and blueprint with no strings attached.

Now you decide, are you trading with us or against us?

See you in the markets,
Ray C. Parrish
President/CEO
The Crude Oil Trader


Download Your FREE Iron Condor Trading Strategy

More earnings....Cabot Oil and Gas [COG] and Hess [HES]

Cabot Oil & Gas Corporation (NYSE: COG) today reported its financial results for the first quarter of 2013. Highlights for the quarter include:

*    Production of 89.3 billion cubic feet equivalent (Bcfe), an increase of 50 percent over last year's comparable quarter and 13 percent over the fourth quarter of 2012.
*    Net income of $42.8 million, or $0.20 per share.
*    Net income excluding selected items of $54.2 million, or $0.26 per share.
*    Cash flow from operations of $212.7 million and discretionary cash flow of $234.4 million.

"The success of our drilling program in the Marcellus continues to drive record operating and financial metrics for the Company, including all-time highs for quarterly production, revenues, operating cash flows and discretionary cash flows, despite historically low realized natural gas prices," said Dan O. Dinges, Chairman, President and Chief Executive Officer......Read the entire Cabot Oil and Gas earnings report.

Hess Corporation (NYSE: HES) today reported net income of $1,276 million for the quarter ended March 31, 2013. Adjusted earnings, which exclude gains on asset sales and other items affecting comparability of earnings between periods, were $669 million, or $1.95 per common share, representing a 30 percent increase on a per share basis over the same quarter last year.

The Corporation generated net cash flow from operations of $819 million during the first quarter while reducing capital and exploratory expenditures by $355 million, a reduction of 18 percent in the year over year period. The Company continues to make progress on its asset sales.

In the first quarter, the Corporation completed the sales of its interests in the Beryl area fields in the United Kingdom North Sea, the Azeri-Chirag-Guneshli (ACG) fields in Azerbaijan, and announced the sale of its acreage in the Eagle Ford shale play in Texas, relieving Hess of approximately $500 million of future capital requirements over the next three years......Read the entire Hess earnings report.



Picking the top "Dividend Paying Stocks"
 

Earnings Reports...Ecana, FMC Technologies, Nabors Industries and Newfield Exploration ECA, FMC, NBR, NFX

In the first quarter of 2013 Encana (NYSE:ECA) achieved significant milestones in a number of its oil and liquids rich natural gas plays including strong well results from the Duvernay and Peace River Arch plays and confirmation of the commerciality of its San Juan play. Solid operational performance resulted in a 48 percent increase in oil and natural gas liquids (NGL) volumes with average production rising to 43,500 barrels per day (bbls/d) in the first quarter of 2013 compared to 29,300 bbls/d in the first quarter of last year. Encana's average natural gas production volumes for the first quarter were 2,877 million cubic feet per day (MMcf/d). "We are pleased with the progress made to date in a number of our emerging plays and the growth in our overall liquids production," says Clayton Woitas, Interim President & CEO. "Proving the commercial success of emerging plays is one of our main goals this year and we intend to do so while preserving the financial strength and flexibility of the company".....Read the entire Encana report.

FMC Technologies (NYSE:FTI) today reported first quarter 2013 revenue of $1.6 billion, up 18 percent from the prior-year quarter. Diluted earnings per share were $0.43 compared to $0.41 in the prior-year quarter. Total inbound orders were $1.8 billion and included $1.2 billion in Subsea Technologies' orders. Backlog for the Company was $5.4 billion, including Subsea Technologies' backlog of $4.6 billion.

"We are pleased to report another quarter of strong subsea orders and revenue," said John Gremp, Chairman and CEO of FMC Technologies. "Additionally, we are encouraged by the overall subsea industry awards this quarter and believe we are on pace for a record year." "Surface Technologies' international surface wellhead business delivered strong performance again in the first quarter. We expect this to continue as activity in both the Middle East and Europe continues to grow".....Read the entire FMC Technologies.

Nabors Industries (NYSE:NBR) today reported its financial results for the first quarter of 2013. Adjusted income derived from operating activities was $149.6 million, compared to $315.5 million in the first quarter of 2012 and $149.8 million in the fourth quarter of 2012. Operating cash flow (EBITDA) was $423.0 million for the first quarter compared to $563.2 million and $427.0 million, respectively, in the first and fourth quarters of last year. Net income from continuing operations was $97.2 million ($0.33 per diluted share), compared to $142.6 million ($0.49 per diluted share) in the first quarter of 2012 and $129.3 million ($0.44 per diluted share) in the fourth quarter of 2012.

Operating revenues and earnings from unconsolidated affiliates for this quarter totaled $1.58 billion, compared to $1.82 billion in the comparable quarter of the prior year and $1.60 billion in the fourth quarter of 2012. First quarter results included a gain on the sale of a large portion of marketable securities net of charges related to the previously disclosed CEO employment contract restructuring. The quarter's results also benefited from a lower effective tax rate, principally attributable to the settlement of a long outstanding tax dispute.....Read the entire Nabors earnings report.

Newfield Exploration (NYSE: NFX) today reported its unaudited first quarter 2013 financial results and provided an update on its operations. The Company's year-to-date operational highlights are detailed in a "new" @NFX publication, located on Newfield's website. Newfield will host a conference call at 8:30 a.m. CDT on April 24, 2013. To listen to the call and view the slide deck, please visit Newfield's website at http://www.newfield.com. To participate in the call, dial 719-325-4824.

For the first quarter, the Company posted a net loss of $8 million, or $0.06 per diluted share (all per share amounts are on a diluted basis). Net income for the first quarter includes a net unrealized loss on commodity derivatives of $111 million ($69 million after-tax), or $0.51 per share. Without the impact of this item, net income for the first quarter of 2013 would have been $61 million, or $0.45 per diluted share.

Revenues for the first quarter of 2013 were $651 million. Net cash provided by operating activities before changes in operating assets and liabilities was $323 million. See "Explanation and Reconciliation of Non-GAAP Financial Measures" found after the financial statements in this release.....Read the entire Newfield earnings report.


The 2 Energy Sectors You Should Invest in This Year

Ever wonder why 70% of mutual fund managers can't beat the SP 500?

What a coincidence, I make my rare stop into the used book store around the corner from our house and am lucky enough to find a like new copy of Jack Bogles "Common Sense on Mutual Funds". After getting started reading I realized, I have to get in the office and create this article for our new launch...."Ever wonder why 70% of mutual fund managers can't beat the SP 500". Totally a coincidence, I swear.

Bogle is the father of the modern day fund in my book. And he has taken a lot of criticism for his finger pointing at the majority of new fund managers that have come into this game. While the number of fund managers have more then tripled in the last couple of decades the number of customers has stayed pretty much the same. And profits have fallen off dramatically. How do they stay in business?

Twenty years from now we will only be talking about a hand full of "out of the box thinkers" who helped the average investor beat the fund managers and one of them I would bet will be Doc Severson.

Doc is one of the world's top options traders, and he just created an eye opening presentation that exposes much of the truth behind what it takes to make a consistent income in the markets and why countless financial planners (who people hire to supposedly protect their assets!) lose a shocking amount of money in market crashes.

Even if you are an advanced trader it's nearly impossible for you to watch the video and not find a few nuggets of information that could change the way you look at your own trading and keep you from making some of the same ordinary mistakes that everybody else is making.

Click here to watch > "Ever wonder why 70% of mutual fund managers can't beat the SP 500"

After you watch the video, please feel free to leave a comment and tell us if you were making any of the same mistakes he mentions in the report? I think you'll be surprised, I was....because I have.

Watch this video today....this just might change everything.

Halliburton Announces 1st Quarter Earnings

Halliburton (NYSE:HAL) announced today that income from continuing operations for the first quarter of 2013 was $624 million, or $0.67 per diluted share, excluding a $637 million charge, after tax, or $0.68 per diluted share, to increase a reserve related to the Macondo litigation. Income from continuing operations for the first quarter of 2012 was $826 million, or $0.89 per diluted share, excluding a $191 million charge, after tax, or $0.20 per diluted share, for a reserve related to the Macondo litigation.

Reported loss from continuing operations for the first quarter of 2013 was $13 million, or $0.01 per diluted share. Reported income from continuing operations for the first quarter of 2012 was $635 million, or $0.69 per diluted share.

Halliburton's total revenue in the first quarter of 2013 was $7.0 billion, compared to $6.9 billion in the first quarter of 2012. Operating income, adjusted for the Macondo charge, was $902 million in the first quarter of 2013, compared to $1.3 billion in the first quarter of 2012. Reported operating loss was $98 million for the first quarter of 2013, compared to reported operating income of $1.0 billion in the first quarter of 2012.....Read the entire earnings report.


When the best times are to place your swing trades

New Swing Trading Options Strategies for Commodity Traders

Whether you are trading crude oil, equities, currencies or gold it's time to take advantage of another great free webinar with our very own John Carter Wednesday, April 24th at 8 p.m. est

Click here to sign up for the "Swing Trading Strategies for Options Traders"

Here's what John will be teaching in the webinar, completely free of charge

What are the best swing trading setups?
What technical analysis indicators should I use?
What foundational analysis techniques should I use?
What criteria to look for when choosing a stock to swing trade
When the best times are to place your swing trades
...and much much more.

Simply visit this link, fill in your email address and click on the submit button. And you will automatically be registered for the webinar on Wednesday.

See you Wednesday night!

Fridays Earnings...Schlumberger and Baker Hughes SLB BHI

Schlumberger (SLB) reports 1st quarter EPS of $1.01, beats by $0.02. Revenue of $10.67B misses by $0.08B. “The outlook for North America remains uncertain, with lower than expected rig activity and continuing pricing weakness," CEO Paal Kibsgaard says. Oilfield services revenue from North America, the region which generates most of the top line, fell 4.2% to $3.29B. Overall drilling revenue was $4.1B, up 9% year over year. Shares +0.5% premarket.

Baker Hughes Inc. (BHI) announced today adjusted net income for the first quarter of 2013 of $290 million or $0.65 per diluted share. This compares to net income of $0.49 per diluted share for the fourth quarter of 2012, and $0.86 per diluted share for the first quarter of 2012. Adjusted net income for the first quarter of 2013 excludes a foreign exchange loss of $23 million before and after tax ($0.05 per diluted share) related to the devaluation of Venezuela's currency in February 2013.


Today Market Update Video

Last Minute Notice: Free Training TODAY

Commodity prices have been taking a beating and there is no better time to make sure you have all the tools to understand how to play both sides of this market.

Are you prepared to deal with this kind of volatility?

This afternoon our trading partners at Premier Trader University are hosting a free webinar that will give you the edge you need for these kind of big moves in commodities, equities and currencies. Best of all is the free training course that all attendees receive just for coming to one of todays free webinars.

That's right, you get this course FREE just for attending (download link will be given out on both webinars)

Stop what you're doing and get your logins in now.....

Click here to sign up and get your copy at the 12pm EST Webinar

Click here to sign up and get your copy at the 6 p.m. est webinar

See you at the webinar and we'll see you in the markets!
Ray C. Parrish
President/CEO
The Crude Oil Trader


Last Minute Notice: Free Training TODAY