Expect more natural gas output from Latin American nations, according to recent earnings calls and presentations from regional government officials and executives.

LatAm rig count

Management at Brazil’s state oil company Petrobras SA said they were working to employ more of the natural gas from the prolific offshore pre-salt deposits. “We will search for new segments for our natural gas production, yes, because burning natural gas is part of the energy transition,” CFO Rodrigo Araujo said during the company’s fourth quarter earnings call. “It’s better than burning diesel or burning fuel oil or burning coal, it’s better. We are evolving in doing that for humanity, and for Brazil… And we know how to do it.”

He said, “We can fuel trucks in Brazil instead of diesel with natural...