Frigid temps hurt some oil companies’ earnings
The extreme cold North Dakota and the rest of the country saw this week will get a mention in many oil companies’ fourth-quarter earnings reports.
While likely every operator was affected, some had to lower their earnings projections while others didn’t, saying they factor extreme weather into their original predictions.
Baker Hughes Inc. announced in a release Friday that in the U.S. and North Sea, the primary reason activity declined late in the quarter was the weather.
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