ConocoPhillips and Occidental Post Losses, Reflecting Oil Price Plunge. (The New York Times, 1/28/2015)
The bleeding has not yet been stanched.
The primary reason for the fall in the earnings has been the collapse in oil prices since June by more than 50 percent. That decline, which extends to natural gas as well, has only accelerated in January, leading energy experts to expect even worse results for the current quarter.