fourth quarter of 2023

State-owned Saudi Arabian Oil Co., better known as Aramco, is targeting a 60% increase by 2030 in its natural gas production from 2021 levels as domestic consumption rises in the Kingdom. Speaking to investors during a conference call on Monday, CEO Amin Nasser and CFO Ziad Al-Murshed discussed an array of projects underway to boost…

Canadian independent Crescent Point Energy Corp. is moving its natural gas exposure away from the AECO price point. The company has reduced its AECO exposure to about 20% of production, management said in its fourth quarter earnings call.  AECO often trades at a discount to more lucrative markets such as the U.S. Midwest and Gulf…

Calgary-based Canadian Natural Resources Ltd. achieved record natural gas production during 2023, up 3% year/year and 5% higher during the final three months of the year.  Besides breaking gas production records, with an average 2.23 MMcf/d in 4Q2023 and 2.15 Bcf/d for the year, the explorer also topped previous oil output records. During a conference…

Rising gas-to-oil ratios (GOR) and a mandate to stamp out flaring in the Bakken Shale mean opportunity for the Williston Basin’s leading natural gas processor, Oneok Inc., management said Tuesday. During a call with analysts to discuss the midstreamer’s fourth quarter 2023 earnings, CEO Pierce Norton II and his executive team highlighted that GORs in…

While U.S. LNG developers navigate the fallout of a pause in new worldwide liquefied natural gas export authorizations, Sempra Infrastructure executives said they were still focusing on the best prices and partnerships, rather than permitting timelines. The LNG and Mexico infrastructure arm of San Diego-based Sempra is currently in the early phases of construction on…

Permian Basin-focused ProPetro Holding Corp. is giving its exploration customers more of what they want – electric and dual-fuel fleets – as it continues to industrialize its business, CEO Sam Sledge said. The Midland, TX-based completions expert works across the Lower 48, with most of the exploration and production (E&P) work centered in the Permian.…

Recent construction setbacks will see Mountain Valley Pipeline LLC’s (MVP) long-delayed completion slip further, now into the second quarter. Still, the finish line is in sight for backer Equitrans Midstream Corp. (ETRN), and the company is also eyeing longer-term growth facilitated by the eventual start-up of the embattled Appalachia-to-Southeast natural gas conduit. Last summer, Congress…

Chesapeake Energy Corp. said Wednesday it would significantly slash spending and natural gas production this year in one of the biggest activity cuts announced yet for U.S. onshore operations in response to tanking prices.  The company, one of the largest natural gas producers in the Lower 48, plans to reduce capital expenditures (capex) in 2024…

TC Energy Corp. management said it could exceed its goal of more than $2 billion in asset sales in 2024 to focus on natural gas and related segments. “For 2024, there should be no surprise that our strategic priorities will look very similar to 2023,” CEO François Poirier said on a conference call to discuss…