A new report from Oppenheimer Equity Research pulls no punches in calling for losses from the large majority of the oil & gas exploration and production firms in the first quarter of 2015, but it also suggests that stabilizing oil prices and reduced costs could mean that things are looking up from here.
Oppenheimer analysts Fidel Gheit and Luis Amadeo highlight that first quarter earnings for the oil & gas sector are going to be a bloodbath. “The only good thing about 1Q15 is that it is over as we expect earnings to be at the lowest levels since 1Q09, with 11 of the largest 15 E&P companies we follow likely to report losses. Producers highly leveraged to oil prices, such as HES, MRO and MUR, are expected to report deep losses.”
Overview of the Oil & Gas sector
RV Capital Co-Investor Lette