Cartoon Of the Week
Its earnings season and time for the US shale oil industry to pull out the 'ol..."but losses were less than expected," thing again. In years past its been the go-to qualification for the main stream media and analysts to use when reporting bad financial performance. Remember, oil prices averaged nearly $70 for the year, well productivity was high, interest rates were low; those guys should have kicked some ass in 2018, just like the International Energy Agency said it would back last March.
Hess Corporation reports $4MM loss for 4Q18 and $252MM loss for the year but, as anticipated, here is the news by a Seeking Alpha "analyst;"
HESS MAY REPORT LOSSES BUT A TURNAROUND IS NEAR.