fourth quarter of 2023

Contract driller Patterson-UTI Energy Inc. has no plans to add drilling or completion capacity in the Lower 48, as activity is forecast to remain flat through the year, but opportunities exist to enhance and expand the natural gas-powered fleets, CEO Andy Hendricks said. Speaking to analysts during the recent quarterly conference call, Hendricks said the…

Midstream giant Williams reported a jump in earnings and, during accompanying investor presentations, touted an expected spike in natural gas demand through this decade and into the next even if new political or regulatory roadblocks emerge. “Under any scenario, a lot of growth is coming on the demand side,” CEO Alan Armstrong said during an…

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…

ConocoPhillips’ LNG business should not be affected in the near term by a freeze on federal approvals for new export capacity, executives said Thursday. The Biden administration’s current pause on authorizations for new liquefied natural gas exports to non-free trade agreement (FTA) countries is “unfortunate” and “clearly more politically driven than fundamental,” said CEO Ryan…

A new executive team has taken the reins at BP plc, but the strategy remains focused on providing energy solutions while remaining pragmatic because the world continues to need natural gas and oil, CEO Murray Auchincloss said. Auchincloss discussed the London-based supermajor’s fourth quarter and full-year results during a conference call Tuesday. Formerly CFO, Auchincloss…

Oil and gas executives in the Rocky Mountain and Midcontinent regions no longer expect the Henry Hub natural gas price to surpass $4/MMBtu at any point in the next five years, according to the Federal Reserve Bank of Kansas City. The Kansas City Fed conducts quarterly surveys to gauge current and expected drilling activity in…