Christopher Lenton

While some upstream firms have announced they are pulling back on production amid weaker natural gas prices, management at midstreamer Oneok Inc. is expecting another strong year. “Higher natural gas and natural gas liquids volumes, and strong fee-based earnings are expected to contribute to higher earnings in 2023 as we continue to focus on both…

Executives at midstreamer Oneok Inc. said they are looking at the midpoint of this year to make a final investment decision (FID) on a pipeline that would transport gas from Texas to Mexico’s west coast. Chief commercial officer Kevin Burdick said “we’re still early in the process from the pipeline’s perspective. It would be an…

Amid record profits across the globe for oil and gas giants, Mexico’s national oil company Petróleos Mexicanos, aka Pemex, posted yet another loss in the fourth quarter of 2022. The company reported a fourth-quarter net loss of 172.4 billion pesos ($9.4 billion) after a 52- billion peso loss in the third quarter. In 4Q2021, Pemex…

U.S. natural gas futures for March delivery tested $2.00/MMBtu this week as the North American market continued to be flush with supplies. On Thursday, the March New York Mercantile Exchange futures contract rallied 14.0 cents to settle at $2.314, adding to a 10.1-cent rally in the day-earlier period. The meager gains came after Freeport LNG…

A year since Russia’s invasion of Ukraine altered the energy landscape across the globe, Mexico’s natural gas model has been transformed. As the world’s biggest consumer of U.S. produced natural gas, Mexico has set its sights on using its geographic position to its advantage. By importing natural gas from the U.S. at the cheapest prices…

Amid natural gas prices that have slumped below $2.00/MMBtu at a number of pricing hubs across the country, Chesapeake Energy Corp. is lowering its exploration and production activity in the Marcellus and Haynesville shale plays while also looking to complete an exit from the Eagle Ford Shale in 2023. “As we plan our initial capital…

A year since Russia’s invasion of Ukraine altered the energy landscape across the globe, Mexico’s natural gas model has been transformed. As the world’s biggest consumer of U.S. produced natural gas, Mexico has set its sights on using its geographic position to its advantage. By importing natural gas from the U.S. at the cheapest prices…

Freeport LNG came back online this week, but natural gas prices remained firmly below $3.00/MMBtu. On Thursday, the March New York Mercantile Exchange gas futures contract settled at $2.389, down 8.2 cents day/day. April shed 7.0 cents to $2.485. Attractive pricing hasn’t led to a bump in gas imports from Mexico buyers. U.S. pipeline imports…

Oil and gas companies had a record year in 2022 and continued to improve their positions in the eyes of investors. In a new report, credit ratings analysts at Moody’s Investors Services said upgrades in the oil and gas industry far outpaced downgrades in 2022, mainly because of considerable debt reduction policies at companies across…