Fourth Quarter

Nearly a year after receiving federal approval, Kinder Morgan Inc. has sanctioned the 2 Bcf/d Evangeline Pass pipeline project that would feed Venture Global LNG Inc.’s Plaquemines LNG export facility. In a call with investors to discuss 4Q2022 earnings earlier this month, CEO Steven Kean said Kinder is moving forward with the $678 million Evangeline…

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…

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…

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…

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…

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,…

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…

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…

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.