TETRA Technologies Inc. reported adjusted EPS income of $0.06 per share. By that measure, the company missed the mean analyst estimate of $0.11. It missed the average revenue estimate of $223.5 million.

Susser Petroleum Partners LP (NYSE:SUSP) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. Revenue Rose 0.36% to $1.08 billion from the year-earlier quarter.

reported adjusted EPS income of $0.38 per share. By that measure, the company missed the mean analyst estimate of $0.41. It missed the average revenue estimate of $1.08 billion.

Marathon Oil Corporation (NYSE:MRO) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. Adjusted Earnings Per Share decreased 23.88% to $0.51 in the quarter versus EPS of $0.67 in the year-earlier quarter. Revenue Rose 1.63% to $4.11 billion from the year-earlier quarter.

Marathon Oil Corporation reported adjusted EPS income of $0.51 per share. By that measure, the company missed the mean analyst estimate of $0.72. It missed the average revenue estimate of $4.25 billion.

W&T Offshore Inc. (NYSE:WTI) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. Adjusted Earnings Per Share decreased 12.5% to $0.35 in the quarter versus EPS of $0.40 in the year-earlier quarter. Revenue Rose 9.89% to $259.22 million from the year-earlier quarter.

W&T Offshore Inc. reported adjusted EPS income of $0.35 per share. By that measure, the company beat the mean analyst estimate of $0.28. It beat the average revenue estimate of $239.06 million.

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W&T Offshore Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 12.5% to $0.35 in the quarter versus EPS of $0.40 in the year-earlier quarter.

Revenue: Rose 9.89% to $259.22 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: W&T Offshore Inc. reported adjusted EPS income of $0.35 per share. By that measure, the company beat the mean analyst estimate of $0.28. It beat the average revenue estimate of $239.06 million.

Quoting Management: Tracy W. Krohn, W&T Offshore’s Chairman and Chief Executive Officer, stated, “Our results for the first quarter reflect the success of our strong development drilling program in 2012. Between the increases in our onshore production and the contribution from our Mahogany drilling program, we saw a 20% growth in oil production compared to the first quarter of 2012. Our net cash provided by operating activities was up 33% to $169.8 million. Strong cash flow continues to fund our exploratory and development drilling programs and drive organic growth. The recent increase in our borrowing base to $800 million, up from $725 million, further improves our liquidity and provides us with significant capital to take on new opportunities or pursue acquisitions as we find opportunities that meet our criteria.”

Key Stats (on next page)…

Revenue increased 9.31% from $237.15 million in the previous quarter. EPS increased 34.62% from $0.26 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.21 to a profit $0.31. For the current year, the average estimate has moved up from a profit of $1.08 to a profit of $1.19 over the last ninety days.

Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.

(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

W&T Offshore Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 62.32% to $0.26 in the quarter versus EPS of $0.69 in the year-earlier quarter.

Revenue: Decreased 9.45% to $237.15 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: W&T Offshore Inc. reported adjusted EPS income of $0.26 per share. By that measure, the company beat the mean analyst estimate of $0.25. It beat the average revenue estimate of $231.01 million.

Quoting Management: Tracy W. Krohn, W&T Offshore’s Chairman and Chief Executive Officer, stated, “In 2012 we successfully executed our capital plan, which was heavily weighted towards development and complemented with exploration projects to drive organic growth in 2013. We converted 50% of our 2011 proved undeveloped reserves to a proved developed status and increased our proved developed crude oil reserves by 51% in 2012. This allowed us to continue to take advantage of the on-going strength in oil prices and the premium we receive for our Gulf Coast production. Additionally, our high value reserves provide a cushion from potential ceiling test impairment issues.”

Key Stats (on next page)…

Revenue increased 27.53% from $185.95 million in the previous quarter. EPS increased 36.84% from $0.19 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.3 to a profit $0.24. For the current year, the average estimate has moved down from a profit of $1.17 to a profit of $1.13 over the last ninety days.

Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.

(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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United States regulators are blocking Enbridge, Inc. (NYSE:ENB) from restarting its Line 14 oil pipeline in Wisconsin, requiring that the company must first conduct additional tests. The pipeline leaked approximately1,200 barrels of oil on Friday from the same pipeline system that allowed a catastrophic leak two years earlier in Michigan.

The proposed $3 billion merger of the Chicago Bridge & Iron Company (NYSE:CBI) and Shaw Group Inc. (NYSE:SHAW), isn’t sitting well with certain analysts. Between the two firms, five downgrades have been levied, with the deal for the former being viewed as a high-quality, low-risk investment, but Shaw’s “lumpier results and inconsistent profitability” and exposure to nuclear power contributing extra risk to its business.

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W&T Offshore Inc. (NYSE:WTI) crude is up to 99.54 per share, and analysts see oil prices staying above $100 a barrel in 2012. The potential for an Iran disruption is embedding a $10-$20 premium in prices, as well as the concerted effort of the Organization of Petroleum Exporting Countries to keep prices elevated to help fund social assistance programs promised by governments in the Middle East and North Africa in response to the Arab Spring uprisings.

Anadarko Petroleum (NYSE:APC) received an additional payment of about $419 million from Statoil Brasil Oil & Gas for the divestiture of its 50% working interest in the Peregrino oil field. The field is located in the Campos Basin offshore Brazil.

Chinese Oil giant CNOOC (NYSE:CEO) says its parent company, China National Offshore Oil, has filed an application with the Chinese government to establish a foundation for marine environmental and ecological protection. The foundation will focus on protecting the marine environment and ecology as well as conducting and advancing related scientific research and technology.

Exco Resources (NYSE:XCO) owner Wilbur Ross bought 848,200 shares worth more than $8.2 million and therefore it is among the session’s top gainers.

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To contact the reporter on this story: Tanya Harding at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com