Earnings

Enterprise Products Partners LP said it benefited from higher natural gas prices during January’s winter storm and was looking ahead to 2024 when any other commodity price bounces would add to volume-driven growth. The Houston-based midstream company shipped and processed record volumes of natural gas in 2023, alongside 11 other operational records in the year,…

Exploration and production companies are investing billions to expand their natural gas and oil development in the global offshore, including the U.S. Gulf of Mexico, as Lower 48 activity flattens, SLB Ltd. CEO Olivier Le Peuch said Friday. During the fourth quarter conference call with analysts, Le Peuch said, “the characteristics of breadth, resilience and…

SilverBow Resources Inc. is eyeing plans to ramp up natural gas production in South Texas amid expectations for stronger commodity prices and as more Gulf Coast export projects near completion. SilverBow, which operates in the Eagle Ford Shale and Austin Chalk formations, earlier this year made oil development its focus. With gas prices hovering around…

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…