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10 Best Cheap Oil Stocks to Buy in 2021 For the past several years, the oil industry has seen enormous growth in demand and revenue. However, the coronavirus crisis hammered the industry as demand crashed, production plants shuttered and the market saw a supply glut that have no precedents. According to an article published in Deloitte, oil demand is forecasted to rebound strongly in 2021. However, it will still be 4% lower than pre-COVID-19 in the base case. The Association of Petroleum Exporting Countries (OPEC) is a 13-country intergovernmental organization founded in 1960 by its first five founders, the Islamic Republic of Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. In 2020, OPEC held 79.1% of the world’s proven oil reserves. In 2021, according to the latest Short Term Energy Outlook (STEO), OPEC sales are expected to rise marginally to $397 billion due to a larger output as global demand increases and a rise in crude oil prices. ....
ADVERTISEMENT Offshore Rig Workers Denied Win In OT Row Law360 (April 30, 2021, 1:39 PM EDT) Offshore oil and gas rig electricians can t win yet on claims that an energy services company denied them overtime pay after a Texas federal judge ruled that a dispute remained as to whether the workers were exempt from overtime pay and whether the company acted in good faith. In a memorandum and opinion Thursday, U.S. District Chief Judge Lee H. Rosenthal denied the Helix Energy Solutions Group Inc. electricians bid for partial summary judgment, saying factual issues remained about whether they fit a Fair Labor Standards Act carveout for seamen. ....
Helix Reports First Quarter 2021 Results | 0 Helix Energy Solutions Group, Inc. ( Helix ) (NYSE: HLX) reported a net loss of $2.9 million, or $(0.02) per diluted share, for the first quarter 2021 compared to a net loss of $11.9 million, or $(0.09) per diluted share, for the same period in 2020 and net income of $4.2 million, or $0.03 per diluted share, for the fourth quarter 2020. Helix reported Adjusted EBITDA of $36.2 million in the first quarter 2021 compared to $19.3 million in the first quarter 2020 and $35.3 million in the fourth quarter 2020. The table below summarizes our results of operations: Summary of Results
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Owen Kratz, President and Chief Executive Officer of Helix, stated, Our first quarter 2021 results reflect consistent financial performance as we benefitted from the recommencement of operations ....
Helix Energy: Q1 Earnings Snapshot April 26, 2021 GMT HOUSTON (AP) Helix Energy Solutions Group Inc. (HLX) on Monday reported a loss of $2.9 million in its first quarter. The Houston-based company said it had a loss of 2 cents per share. The offshore oil and gas services contractor posted revenue of $163.4 million in the period. In the final minutes of trading on Monday, the company’s shares hit $4.52. A year ago, they were trading at $1.58.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HLX at https://www.zacks.com/ap/HLX ....