1Q2024 earnings

Chesapeake Energy Corp. said Wednesday it would continue to curtail natural gas output until demand rebounds, forecasting another 400 MMcf/d of cuts in the second quarter.  The company first announced the cuts in February and said they would mostly come by not turning wells in progress to sales. Chesapeake curbed 200 MMcf/d of output during…

The imminent startup of Canada’s Trans Mountain oil pipeline, with LNG Canada set to ramp late this year, should provide “significant tidewater access” to boost near-term activity, according to the CEO of Calgary-based Precision Drilling Corp.  CEO Kevin Neveu laid out the near-term forecast for the international contract drilling expert during the recent quarterly conference…

Appalachian Basin pure play Antero Resources Corp. expects the currently oversupplied natural gas market to balance over the next year as producers tap the brakes and export demand picks up. During a call to discuss first quarter earnings, CEO Paul Rady and his management team highlighted the natural gas liquids-rich production mix and exposure to…

The exploration and production sector may be feeling the heat from slumping natural gas prices, but they had little impact on Enterprise Products Partners LP’s Permian Basin operations during the first quarter, executives said Tuesday. Driven by its operations in West Texas, natural gas transportation volumes during 1Q2024 improved from a year ago to 18.6…

Equinor ASA expects competition for LNG with Asia and weather to be the largest drivers of European natural gas prices as markets continue to shift, creating a floor for global benchmarks. After another mild winter helped Europe exit its second heating season without major Russian pipeline gas supplies and sizable storage inventories, CFO Torgrim Reitan…

ExxonMobil will add more natural gas – including LNG – into the portfolio, both in the United States and overseas, as long as they are “advantaged investment opportunities,” according to CEO Darren Woods. During the quarterly conference call on Friday, Woods was asked whether more liquefied natural gas assets would be added to the portfolio…

Dallas-based independent Matador Resources Co. delivered better-than-expected results during the first quarter, with Permian Basin-heavy natural gas production jumping 36%. Gas output reached nearly 390 MMcf/d, 4% higher than guidance. That came even as average realized gas prices were $2.96/Mcf, about 25% lower year/year. What stoked the performance was the diversified portfolio, executives explained during…

Range Resources Corp. kept natural gas production steady through the first quarter, even as others pulled back, and it expects to maintain the same pace through 2024. The Appalachian Basin pure play’s executives reiterated to analysts during a call to discuss first quarter earnings on Wednesday that they intend to hold output flat this year.…

The timing for the next leg of growth in North America remains uncertain, but there’s “no question” that natural gas output will drive the market into 2025 and beyond because of LNG exports and rising electricity demand, Halliburton Co. CEO Jeff Miller said. Speaking to analysts during the first quarter conference call, Miller was asked…