Earnings

Strong operational performance and “robust and durable” market pricing for global liquefied natural gas (LNG) cargoes helped Cheniere Energy Inc. steer its broad Gulf Coast export platform during the second quarter, CEO Jack Fusco said Thursday.

Permian Basin-focused Energen Corp. raised its full-year guidance after second quarter output climbed 5% sequentially, the beat coming on outperformance using updated well designs.

Oasis Petroleum Inc. said it plans to spend an additional $80 million this year on capital expenditures (capex) in the Williston Basin, home to most of its assets, as it looks to take advantage of existing infrastructure and better price differentials than those in the Permian Basin’s Delaware sub-basin, where it holds fewer assets and takeaway capacity is constrained.

Although it cut capital expenditures earlier this year on the dim outlook for natural gas prices, Appalachian pure-play Eclipse Resources Corp. managed to beat its second quarter production guidance.

Houston-based super independent Noble Energy Inc. is cutting back on planned well completions in the Permian Basin and shifting some capital to adjust for a lack of takeaway capacity.

Denver-based independent SM Energy Co., which is focused mostly on Texas, said it plans to target additional formations within the Permian Basin later this year and into the next, as two dozen wells drilled into the Permian’s Midland sub-basin in the second quarter yielded encouraging results.

CNX Resources Corp. on Thursday said it would spend more this year, primarily to cover higher-than-expected water costs and take care of problems at some of its well sites in Appalachia.

California Resources Corp.(CRC) on Thursday increased its full-year capital expenditures (capex) to a range of $650-700 million, including $100 million for joint venture (JV) funding, and raised its third quarter production forecast to 134,000-138,000 boe/d.CRC CEO Todd Stevens is focused on growth in the second half of the year, touting the company’s flagship Elk Hills interests, which are now totally under CRC’s control.

Mexico’s two leading state energy companies, which are no longer monopolies but which continue to dominate their sector, recorded losses totaling $10.3 billion in the second quarter.