Liberty Energy Inc. CEO Chris Wright said Thursday he does not expect exploration and production customers to increase their onshore natural gas activity before the end of this year, but a lack of activity will not be a stumbling block to advance future opportunities. The oilfield services (OFS) company, considered one of the leading hydraulic…
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Argentina’s YPF Aiming to Become ‘Global LNG Player,’ Says New CEO
Argentina’s 51% state-owned oil and gas company YPF SA is aiming to sanction a large-scale LNG export project by mid-2025, with the first 1-2 million metric tons/year (mmty) of liquefaction capacity online by 2027, the firm’s new management said. “Our goal is to become a global LNG player through the massive monetization of our shale…
Vermilion Expanding Montney Infrastructure, Boosting European Natural Gas Activity
Calgary-based Vermilion Energy Inc., whose North American exploration expertise extends overseas, said it is advancing key growth projects to add more “premium-priced” European natural gas to the portfolio, while divesting higher cost assets in Canada. “With this high-graded asset base, we were able to deliver on the midpoint of our annual production guidance of 84,000…
Pembina Inks NGL Pact, Delays LNG Project Decision
Calgary-based Pembina Pipeline Corp. has secured an agreement to supply natural gas liquids (NGL) for Dow Chemical Co. and is advancing LNG pipeline expansion projects that could provide multiple opportunities and more growth following a strong year. In support of Dow’s Fort Saskatchewan Path2Zero expansion project in Canada, Pembina entered into long-term agreements to supply…
Devon ‘Optimistic’ About Future of Natural Gas, but Staying ‘As Oily as We Can’ for Now
Though it is a major producer of U.S. natural gas, oil economics will dictate investment decisions for Devon Energy Corp. for the foreseeable future, management indicated Wednesday. Oklahoma City-based Devon is the 16th largest producer of natural gas among U.S. publicly traded firms, according to NGI’s most recent calculations. It operates primarily in the Permian…
H&P Predicting ‘Modest’ U.S. Rig Gain, but Warns E&Ps Resetting on Weak Natural Gas Prices
The headwinds resulting from low natural gas and oil prices have driven Helmerich & Payne Inc. (H&P) toward opportunities to showcase the capabilities of the high-tech rig fleet and drilling solutions, according to CEO John Lindsay. The energy industry faces challenges nearly every year, but as the market zigs and zags, there are other ways…
Coterra Halving Marcellus Spending, but Ready to Pivot for Natural Gas Price Recovery
Coterra Energy Inc. is “throttling back on operations” in the Marcellus Shale to start 2024, but management is “highly optimistic on the 12- to 18-month outlook” for natural gas as LNG facilities come online, CEO Tom Jorden said. The Houston-based independent plans to decrease capital expenditures (capex) in 2024 by 12% year/year to $1.75-1.95 billion…
EnLink Eyeing Louisiana as Largest Midstream Growth Market Amid a Shift in Natural Gas Dynamics
The Permian Basin remains its largest growth market, but with natural gas supply and demand dynamics shifting, Louisiana will surpass Oklahoma to become EnLink Midstream LLC’s second largest segment this year, according to management. “In 2019, Oklahoma and North Texas represented over 60% of our segment profit mix,” CFO Ben Lamb said. Today, “the Permian…
DTM Looking Beyond ‘Current Realities’ in Natural Gas Market to Expand Haynesville LEAP Pipe
DT Midstream Inc. (DTM) has boosted the top end capacity estimate for its Louisiana Energy Access Project, or LEAP, to 4 Bcf/d, roughly double the amount of natural gas it could be transporting by 2026. Based on the work to expand LEAP, “it’s become clear to us that we actually can expand this beyond 3…
Comstock Shedding Rigs, Suspending Dividend Amid Natural Gas Price Slump
Haynesville Shale pure-play Comstock Resources Inc. is pumping the brakes on natural gas drilling and shareholder distributions because of low commodity prices. “In response to weak natural gas prices, Comstock plans to suspend its quarterly dividend until natural gas prices improve,” management said. “In addition, the company plans to reduce the number of operating drilling…