Earnings

TC Energy Eyeing Increased LNG Exports From Haynesville 

TC Energy Eyeing Increased LNG Exports From Haynesville 

TC Energy Corp. is working to connect more natural gas supply from the Haynesville Shale and Western Canadian Sedimentary Basin (WCSB) with LNG export demand, management said last week. CEO François Poirier hosted a call on Wednesday (Nov. 9) to discuss the Calgary-based pipeline juggernaut’s third quarter earnings. Poirier and his team highlighted the $400…

November 18, 2022
Devon Touts LNG Partnership, Lower 48 Acquisitions After Strong Third Quarter

Devon Touts LNG Partnership, Lower 48 Acquisitions After Strong Third Quarter

With LNG exports seen driving U.S. natural gas demand growth over the coming years, Devon Energy Corp. is positioning itself to capitalize on premium global gas prices, management said Wednesday.  In a call to discuss the Lower 48 producer’s third quarter earnings, CEO Rick Muncrief highlighted a partnership with Delfin Midstream Inc. that would see…

November 4, 2022
BP CFO Predicts Continued Natural Gas Price Volatility as Trading Unit Generating ‘Exceptional’ Results 

BP CFO Predicts Continued Natural Gas Price Volatility as Trading Unit Generating ‘Exceptional’ Results 

BP plc is forecasting continued high prices and volatility in the natural gas market through year-end, following an “exceptional” third quarter for its gas marketing and trading business, management said Tuesday (Nov. 1). Breaking down the supermajor’s quarterly results on a conference call, CFO Murray Auchincloss said that reduced Russian pipeline imports to Europe “led…

November 4, 2022
After Record Quarter, Enterprise Sees ‘Significant Momentum’ in Permian for 2023

After Record Quarter, Enterprise Sees ‘Significant Momentum’ in Permian for 2023

Enterprise Products Partners LP transported record volumes on its pipeline systems during the third quarter of 2022, buoyed by the natural gas gathering and processing business it acquired from Navitas Midstream Partners LP earlier this year. However, management acknowledged that pipeline capacity in the Permian Basin is tight, and more negative gas pricing may be…

November 4, 2022
Marathon Oil Nearly Doubling Eagle Ford Position with $3B Acquisition of Natural Gas, Condensate-Rich Assets

Marathon Oil Nearly Doubling Eagle Ford Position with $3B Acquisition of Natural Gas, Condensate-Rich Assets

Marathon Oil Corp. has entered a deal to acquire the natural gas and condensate-weighted Eagle Ford Shale assets of Ensign Natural Resources for $3 billion in cash. The assets span 130,000 net acres in South Texas’ Live Oak, Bee, Karnes and Dewitt counties across the condensate, wet gas and dry gas phase windows of the…

November 4, 2022
Mexico’s Pemex Posts Loss Despite High Pricing Environment, Steady Output

Mexico’s Pemex Posts Loss Despite High Pricing Environment, Steady Output

Mexico’s state oil and gas giant Petróleos Mexicanos (Pemex) had a strange third quarter. Amid record commodity prices, the company posted a massive loss. But it also produced more hydrocarbons, in particular natural gas. In an earnings call last week, executives tried to put a positive spin on the results. They highlighted that Pemex liquids…

November 1, 2022
Equinor Remains Cautious of Volatility, Price Caps as Natural Gas Volumes Rise

Equinor Remains Cautious of Volatility, Price Caps as Natural Gas Volumes Rise

Equinor ASA’s natural gas production and related revenues continued to rise in the third quarter as it answers Europe’s call to replace lost Russian imports, but management sees more volatility on the horizon, including from potential price cap policies. CEO Anders Opedal said the firm and Norway as a whole have taken on an increased…

November 1, 2022
Chevron Looking to Move LNG Beyond Pacific, with Eye on Atlantic, Eastern Med

Chevron Looking to Move LNG Beyond Pacific, with Eye on Atlantic, Eastern Med

Deliveries from Chevron Corp.’s two operated Australian LNG export facilities, both through spot sales and contracts, helped propel third quarter profits, and executives are considering ways to expand exports from the Atlantic Basin and the Eastern Mediterranean. During the quarterly conference call on Friday, CEO Mike Wirth said the international upstream results benefited from “record”…

October 28, 2022
Antero Foresees Improved Natural Gas Basis Pricing Along LNG Corridor

Antero Foresees Improved Natural Gas Basis Pricing Along LNG Corridor

Appalachian Basin pure-play Antero Resources Corp. expects continued strengthening of natural gas basis pricing at locations with access to the global LNG market, management said Thursday. On a conference call to discuss third quarter earnings, Antero’s Justin Fowler, senior vice president of gas marketing and transportation, touted the company’s “unique ability to avoid the pitfalls…

October 28, 2022
ExxonMobil Flies in 3Q on Skyrocketing Natural Gas Prices, ‘Really Tight Market’

ExxonMobil Flies in 3Q on Skyrocketing Natural Gas Prices, ‘Really Tight Market’

Strong demand for natural gas, combined with soaring realizations, helped drive record breaking profits for ExxonMobil in the third quarter.  Natural gas realizations jumped 22% because of European supply concerns and efforts to build inventory ahead of winter. That more than offset decreasing crude realizations, which fell 12% on modest supply increases.  The “strong gas…

October 28, 2022
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