Earnings

Drilling technology expert National Oilwell Varco Inc. (NOV) reported light bookings for equipment in the third quarter, but there are signs that North American activity is going to improve at a modest pace, CEO Clay Williams said Tuesday. Williams and the management team for the Houston-based oilfield services giant discussed third quarter results and offered…

BP plc has no plans to veer off an objective to reach net-zero emissions by 2050, but natural gas and oil continue to be the “engine” driving the company in the near term, CEO Bernard Looney said Tuesday. Looney and CFO Murray Auchincloss held a wide-ranging conference call to share third quarter results. BP’s global…

The Lower 48 oil and natural gas rig count remains sharply lower than a year ago, but fracturing activity is rising, a revival that should extend into 2021, all things (prices) being equal, Patterson-UTI Energy Inc. CEO Andy Hendricks said Thursday.  Drilling and completion activity for the Houston giant “stabilized” in the third quarter as…

EQT Corp., the largest natural gas producer in the Lower 48, said Thursday it has ended another round of curtailments, but management said it won’t hesitate to continue shutting in volumes as low prices warrant.  The Appalachian pure-play had curtailed about 400 MMcf/d beginning Sept. 1, cutting 15 Bcf from third quarter production volumes. The…

Natural gas and oil operators are likely to report a return to normalcy — but not growth — when they unveil their third quarter results in the coming weeks, and demand forecasts may be hazy amid a historic hurricane season and the expanded wave of damaging Covid-19 infections.  Schlumberger Ltd., the world’s largest oilfield services…

Natural gas and oil operators are likely to report a return to normalcy — but not growth — when they unveil their third quarter results in the coming weeks, but the demand forecasts may be hazy amid a historic hurricane season and the expanded wave of damaging Covid-19 infections.  Schlumberger Ltd., the world’s largest oilfield…

Click here to listen to the latest episode of NGI’s Hub & Flow podcast. In the latest podcast, NGI’s Patrick Rau, director of Strategy & Research, provides his analysis into how the third quarter earnings season is expected to play out for U.S. exploration and production companies in the weeks ahead.  Believing that transparent markets…

Phoenix-based Pinnacle West has a long-range commitment to add more alternative fuels to its utility mix, but natural gas should remain a risk management tool, the management team said during the second quarter earnings call. CEO Jeff Guldner said the integrated resource plan (IRP) for utility Arizona Public Service Co. (APS) filed in June called…

Haynesville Shale giant Comstock Resources Inc. is changing its tune. After adopting a moratorium on bringing new wells online in the natural gas-rich play from April through June, some completion activity has now resumed in anticipation of a bump in prices this winter. CEO Jay Allison, during a conference call to discuss 2Q2020 results, said…