Fourth Quarter

Touting Permian Productivity, Matador Posts Record Oil, Natural Gas Output

Touting Permian Productivity, Matador Posts Record Oil, Natural Gas Output

Matador Resources Co. capped a banner year with robust production levels and revenue, citing a rebounding economy, steady demand, strong commodity prices and advancing technology – all tailwinds that propelled the independent into 2022. For all of 2021, Matador reported 31.5 million boe of production – up 19% from 2020 – a company high that…

February 23, 2022
Chevron CEO Applauds Strongest Quarter Since 2014, Eyes Gorgon LNG ‘Uplift’ in 2022

Chevron CEO Applauds Strongest Quarter Since 2014, Eyes Gorgon LNG ‘Uplift’ in 2022

Natural gas and oil resources can be produced in many areas today at lower than current breakeven commodity prices, allowing operators to develop their portfolios and haul in strong cash flow, Chevron Corp. CEO Mike Wirth said Friday. Wirth and CFO Pierre Breber held court with financial analysts to discuss the quarterly and full-year 2021…

January 28, 2022
Hess Ramping Up Bakken Production as Oil Demand, Prices Rise

Hess Ramping Up Bakken Production as Oil Demand, Prices Rise

U.S. independent Hess Corp. expects production from its Bakken Shale assets to grow 6-9% in 2022 to 165,000-170,000 boe/d. The New York-based producer is ramping up Bakken activity after adding a third rig last September. Previously it had slashed its rig count from six to one because of the coronavirus pandemic. A fourth rig could…

January 26, 2022
Enable Eyeing Increased Activity, Scale in Midcontinent After Merger

Enable Eyeing Increased Activity, Scale in Midcontinent After Merger

Oklahoma’s Enable Midstream Partners LP has seen an increase in drilling activity around its footprint as commodity prices have improved, with a “substantial” inventory of drilled but uncompleted (DUC) wells sitting behind the company’s system in the Anadarko and Williston basins. “These DUCs provide an inventory of wells producers can complete without investing additional drilling…

March 3, 2021
MPLX’s 2021 Capex Lower, Preparing for Long Post-Covid Recovery

MPLX’s 2021 Capex Lower, Preparing for Long Post-Covid Recovery

The Marcellus Shale and Permian Basin remain growth areas for MPLX LP, but the operator plans to put more of an emphasis on “strict” capital and cost discipline going forward as uncertainty regarding the Covid-19 pandemic lingers. CEO Michael Hennigan said the midstream giant is targeting only $800 million in growth capital spending in 2021,…

February 3, 2021
BP ‘Greening,’ as Oil, Natural Gas Alternatives Evolve, Says Looney

BP ‘Greening,’ as Oil, Natural Gas Alternatives Evolve, Says Looney

BP plc CEO Bernard Looney is juggling dozens of balls as the supermajor ramps up oil and natural gas projects worldwide, but the focus long term, he said Tuesday, is centered on ways to expand the opportunities toward a low carbon future. Speaking from London during a webcast to discuss quarterly results, Looney said last…

February 2, 2021
‘Greater Visibility’ for Stronger E&P Activity by Private, Public Operators, says RPC Chief

‘Greater Visibility’ for Stronger E&P Activity by Private, Public Operators, says RPC Chief

Oil and gas supply and demand appears now to be heading in opposite directions, setting the stage for a potential upcycle in the industry, RPC Inc. CEO Richard A. Hubble said Wednesday. Hubble, who runs the Atlanta-based oilfield services (OFS) giant, discussed the fourth quarter performance and outlook for 2021 during a conference call. RPC…

January 27, 2021

Chesapeake Energy Reports Progress on Debt Reduction

Chesapeake Energy Corp. said Wednesday it is making progress on debt reduction measures nearly three months after warning that low commodity prices could push the company into bankruptcy.

January 29, 2020

4Q2019 Earnings: Hess Touts ‘Lean Manufacturing,’ Technology in Driving Down Bakken Costs

Hess Corp. is doing more with less, with the Bakken Shale continuing to drive a significant portion of oil and natural gas production growth at the same time 2019 spending came in lower than expected.

January 29, 2020

Chesapeake Energy Reports Progress on Debt Reduction

Chesapeake Energy Corp. said Wednesday it is making progress on debt reduction measures nearly three months after warning that low commodity prices could push the company into bankruptcy.

January 29, 2020
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