Earnings

Venture Global LNG Inc. drew sharp criticism from Shell plc’s CEO on Thursday, who said the “actions of one player could potentially start to undermine confidence” in U.S. natural gas exports.  During the third quarter conference call, CEO Wael Sawan was asked about an ongoing contract dispute with Venture to deliver liquefied natural gas cargoes…

ConocoPhillips on Thursday boosted its oil and natural gas production guidance for the remainder of the year and said it expects to spend more now that it has taken full control of the Surmont oilsands site in Alberta.  Full-year oil and natural gas production is now expected to come in at 1.82 million boe/d, up…

Mexico’s state oil company Petróleos Mexicanos (Pemex) held natural gas and oil production steady in the third quarter, but low commodity prices and foreign exchange effects drove another multibillion-dollar loss. Natural gas production averaged 3.959 Bcf/d during 3Q2023, up slightly from 3.88 Bcf/d averaged in 3Q2022, the 100% state-owned firm reported. Crude oil production averaged…

Shareholders of Chevron Corp. and Hess Corp. are largely enthusiastic about the pending $53 billion merger, according to Chevron CEO Mike Wirth. He hosted a conference call Friday to discuss the San Ramon, CA-based supermajor’s third quarter earnings.  Chevron and Hess recently announced the blockbuster deal, which would give Chevron a foothold in the multibillion-barrel…

The world’s largest publicly operated oil and natural gas company is continuing to remake itself as it stacks up more resources to develop and looks beyond traditional energy to prepare for the future, ExxonMobil CEO Darren Woods said Friday. Woods discussed the third quarter results during an hour-long call with energy analysts, whose questions centered…

TotalEnergies SE expects global commodity prices to remain high for the remainder of the year as wars in Israel and Ukraine, along with supply constraints, keep energy markets tight.  The steep year-over-year drop in oil and natural gas prices dented the company’s results for the period. But the cost of those fuels still remained high…

Appalachian-focused Range Resources Corp. plans to maintain natural gas and natural gas liquids (NGL) production into next year using hedging and efficiencies to capture the forecast surge in demand as Gulf Coast LNG export facilities start up next year. The management team held a conference call to discuss the latest results and the expected growing…

The global energy sector is benefiting today from long-cycle developments, SLB CEO Olivier Le Peuch said Friday, lifted by more carbon capture expansions, offshore exploration and the realization that “natural gas is a critical source for the energy transition.” During a third quarter conference call, Le Peuch offered his insight into results for the world’s…

The full ramp-up of a dual pipeline to transport natural gas liquids from Canada’s Grand Prairie production area helped improve the bottom line for Calgary-based Keyera Corp. during 2Q2023, even with outages related to the Canadian wildfires.  The Calgary-based midstream operator began service in June through the second leg of the Key Access Pipeline System…