Continental Resources, Inc. Q4 2009 Earnings Call Transcript

Good day, ladies and gentlemen, and welcome to the fourth quarter 2009 Continental Resources earnings conference call. This conference call is being recorded. Today call will include projections, assumptions and guidance that are considered forward-looking statements. Actual results will likely differ from those contained in our forward-looking statements. Please refer to the company filings with the Securities and Exchange Commission for additional information concerning these statements and risks. Chairman and CEO, Harold Hamm will begin this morning call with an overview of the companys fourth quarter achievements and 2010 outlook. He will be followed by President and Chief Operating Officer, Jeff Hume who will provide additional detail on financial and operating results and plans for 2010. [Read the full article]

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Good day everyone and welcome to the Ensco International Fourth Quarter Earnings for 2009 Conference Call. As a reminder, this call is being recorded and your participation constitutes consent to its taping. I will now turn this conference call over to Mr. Sean O’Neill, Vice President of Investor Relations who will moderate the call. Please go ahead, sir. Good morning and welcome to Ensco’s fourth quarter 2009 conference call. With me today are Dan Rabun, CEO; Bill Chadwick, our Chief Operating Officer; Jay Swent, Chief Financial Officer, as well as other members of our Executive Management Team. We issued our earnings release which is available on our website at enscointernational.com. Later today, we plan to file our SEC Form 10-K. As usual, we will keep our call to one hour. Any comments we make about our expectations are forward-looking statements and are subject to risks and uncertainties. Many factors could cause actual results to differ materially. [Read the full article]

Gulf Island Fabrication, Inc. (NASDAQ: GIFI – News) today reported net income of $4.6 million ($.32 diluted EPS) on revenue of $70.8 million for its fourth quarter ended December 31, 2009, compared to net income of $874,000 ($.06 diluted EPS) on revenue of $86.2 million for the fourth quarter ended December 31, 2008. Net income for the twelve months ended December 31 2009 was $20.8 million ($1.44 diluted EPS) on revenue of $311.5 million, compared to the net income of $29.0 million ($2.02 diluted EPS) on revenue of $420.5 million for the twelve months ended December 31, 2008.

The company had a revenue backlog of $136.8 million and a labor backlog of approximately 1.5 million man-hours remaining to work, which consist of work remaining at December 31, 2009 and commitments received through February 25, 2010. [Read the full article]

Continental Resources Inc. said Thursday it boosted fourth-quarter profits more than 100-fold as the petroleum driller increased production while charging more per barrel.

Continental reported net income of $49.5 million, or 29 cents a share, in the final three months of 2009. That compares with $416,000, or less than a penny per share, for the same part of 2008. Revenue jumped 53 percent to $207.6 million for the quarter.

The company charged $66.91 per barrel in the fourth quarter, compared with an average of $43.89 in the final three months of 2008, when prices were in freefall.

But overall, energy prices were much higher in 2008. A barrel of Continental’s oil fetched an average of $54.44 in 2009, compared with $88.87 in 2008.

Profits for 2009 were sharply lower as a result. Continental said it earned $71.3 million, or 42 cents a share, in 2009, compared with profits of $321 million, or $1.89 a share, in 2008. [Read the full article]

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