Tidewater Inc. (NYSE:TDW) reported Q3 revenue $272.1M vs. consensus $266.02M. Included in the current fiscal quarter’s net earnings is an $8.4M, or 16c per common share, reversal of income tax liabilities originally established for uncertain tax positions as a result of the expiration of various statutes of limitations. Excluding items, reports Q3 EPS 51c.

Pioneer Natural Resources Co. (NYSE:PXD) announced the Company added proved reserves totaling 148 million barrels oil equivalent during 2011 from discoveries, extensions, improved recovery and technical revisions of previous estimates. These drillbit proved reserve additions equate to replacing 313% of Pioneer’s full-year 2011 production of 49 MMBOE. The drillbit finding and development cost related to proved reserve additions was $13.83 per barrel oil equivalent.

Investing Insights: Gold and Silver Continue to Rally.

Sunoco Inc. (NYSE:SUN) announced it will focus on its high-return logistics and retail businesses and undertake a series of initiatives to improve its financial and strategic flexibility to better position itself to deliver sustainable value to shareholders. The initiatives include: Repurchasing up to 19.9% of Sunoco common shares in open market purchases over the next 12 18 months; Increasing the quarterly dividend per share by 33% from 15c to 20c; Reducing Sunoco’s leverage by repurchasing up to $400M of outstanding debt over the next year; Eliminating the need for pension fund contributions for the foreseeable future by contributing $80M pre-tax to the pension fund; Eliminating future retiree medical expense by restructuring retiree medical liability and contributing approximately $200M pre-tax to a dedicated Trust; Establishing a segregated environmental fund via a captive insurance company of approximately $250M to be used for remediation of legacy environmental obligations.

Flotek Industries Inc. (NYSE:FTK) announced in-line guidance for full-year 2011. Gross margins expanded to 42% from 37% in 2010. Operating income as a percentage of revenue for Q4 is expected to exceed 20%. Flotek decreased its debt by 50% in 2011.

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Investing Insights: Exxon Mobil, PACCAR and Headwaters Shares in Play Following Earnings Reports.

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