Earnings

Latin American NOCs Post Lofty Q1 Profits, but Only Argentina’s YPF Boosting Production

Latin American NOCs Post Lofty Q1 Profits, but Only Argentina’s YPF Boosting Production

Latin America’s national oil companies (NOCs) posted quarterly profits that would delight any investor, but with the exception of Argentina this hasn’t so far translated into significant oil and gas production increases. The oilfield services firms touted strong growth from Latin American operations in the first quarter. Halliburton Co. reported first-quarter revenue from Latin America…

May 24, 2022
Permian Pure-Play Laredo Sees Diesel, Chemical Costs as Wildcards

Permian Pure-Play Laredo Sees Diesel, Chemical Costs as Wildcards

Laredo Petroleum Inc. has locked in pricing for most of its oilfield services operations through the rest of this year to counter inflation, but costs for the diesel fuel and chemicals needed to sustain them remain harder to predict. “We worked with our service partners to lock in 85% of expected drilling, completions, equipment and…

May 20, 2022
Calgary’s Headwater Riding Oil, Natural Gas Growth Wave, with Capital Jumping 59%

Calgary’s Headwater Riding Oil, Natural Gas Growth Wave, with Capital Jumping 59%

Headwater Exploration Inc. plans to boost its average daily output 33% by the end of this year, the Calgary-based independent said. “Our business continues to evolve with a very strong growth outlook for the foreseeable future,” management said in the earnings report for the first quarter. The producer reported 1Q2022 average output of 12,414 boe/d,…

May 20, 2022
Colombia’s Ecopetrol, Oxy Teaming Up On Deepwater Exploration as Natural Gas Takes Center Stage

Colombia’s Ecopetrol, Oxy Teaming Up On Deepwater Exploration as Natural Gas Takes Center Stage

Colombian national oil company Ecopetrol SA and a unit of Occidental Petroleum Corp. (Oxy) have signed a deal to jointly explore four deepwater areas in the Caribbean. Blocks COL 1, COL 2, COL 6 and COL 7 are located, on average, about 150 kilometers or 93 miles off Colombia’s northern coast. The companies, which also…

May 18, 2022
Vaca Muerta Shale Driving Natural Gas Production Surge for Argentina’s YPF

Vaca Muerta Shale Driving Natural Gas Production Surge for Argentina’s YPF

U.S. onshore producers may be limiting annual production growth to 5% or less, but don’t tell that to Argentina’s 51% state-owned YPF SA. The Vaca Muerta shale play in the Neuquén Basin drove a 16% year/year increase in oil and gas output to 506,000 boe/d during the first quarter for the integrated producer. On a…

May 16, 2022
Brazil’s Petrobras Reports Lower LNG Imports, Falling Natural Gas Demand

Brazil’s Petrobras Reports Lower LNG Imports, Falling Natural Gas Demand

Brazilian national oil company Petróleo Brasileiro (Petrobras) saw falling natural gas demand and the need for fewer liquefied natural gas (LNG) cargoes in the first quarter as rainfall replenished the nation’s reservoirs. Natural gas demand dropped to 67 million cubic meters/day (MMm3/d) in the first quarter, compared to 81 MMm3/d in the same period last…

May 10, 2022
Calgary’s Arc Looking to Sell Natural Gas Production to LNG Canada, Cheniere’s Corpus Facility

Calgary’s Arc Looking to Sell Natural Gas Production to LNG Canada, Cheniere’s Corpus Facility

Calgary-based producer Arc Resources Ltd. said it nearly doubled future liquefied natural gas (LNG) sales during the first quarter by landing a contract to supply an expansion to Cheniere Energy Inc.’s Corpus Christi terminal in South Texas.  The deal would expand sales into overseas markets to 290 MMcf/d, management noted. The Cheniere deal would  add…

May 10, 2022
Lower 48 Oil Production Growth Forecasts Too Aggressive, Says Pioneer’s Sheffield

Lower 48 Oil Production Growth Forecasts Too Aggressive, Says Pioneer’s Sheffield

Projections of Lower 48 oil production growth this year are “way too high,” Pioneer Natural Resources Co. CEO Scott Sheffield said Thursday. Irving, TX-based Pioneer is among the largest producers in the Permian Basin, with operations focused on the Midland sub-basin. As evidence, Sheffield pointed to comments by oilfield services CEOs, including Halliburton Co.’s Jeff…

May 6, 2022
Diamondback Holding Line on Permian Production – Despite High Prices, Demand

Diamondback Holding Line on Permian Production – Despite High Prices, Demand

Permian Basin pure-play Diamondback Energy Inc. is not budging on plans to keep oil production flat this year, despite increased market tightness because of Russia’s invasion of Ukraine, said CEO Travis Stice. Diamondback “is committed to maintaining our current production levels, providing a significant supply of energy to our country and the world,” said Stice…

May 6, 2022
LNG Demand Driving Williams’ $1.5B Investment in Natural Gas Pipeline Expansions

LNG Demand Driving Williams’ $1.5B Investment in Natural Gas Pipeline Expansions

Midstream giant Williams is spending about $1.5 billion to grow its natural gas transportation capacity by nearly 2 Bcf/d over the next few years to accommodate growing demand, particularly for exports, according to management. One of the six transmission projects the Tulsa-based midstreamer is developing is a 364 MMcf/d expansion on the Transcontinental Gas Pipe…

May 3, 2022
‹ Previous 1 2 3 42