Growth

Devon CEO Urges Lower 48 E&Ps to Focus on Generating Cash, Limiting Oil, Gas Production

Devon CEO Urges Lower 48 E&Ps to Focus on Generating Cash, Limiting Oil, Gas Production

Devon Energy Corp. CEO Rick Muncrief said it’s time for his peers to get their act together and stop expanding oil and gas production until demand outpaces supply. Speaking with investors during a first quarter conference call on Wednesday, Muncrief took the pulpit to preach to fellow exploration and production (E&P) companies. Mirroring comments by…

May 5, 2021
‘Writing is on the Wall,’ says Total’s Pouyanné as Major Shifting to LNG, Renewables

‘Writing is on the Wall,’ says Total’s Pouyanné as Major Shifting to LNG, Renewables

France’s Total SE plans to base its growth strategy on liquefied natural gas (LNG) and renewable electricity during the 2020-2030 period and propose a name change to shareholders to reflect the shift in focus, management said Tuesday.  “The writing is on the wall,” said CEO Patrick Pouyanné upon presenting the major’s 2020 earnings to analysts…

February 10, 2021
LNG Export Trade in Growth Mode for ‘Some Time,’ Says Yergin

LNG Export Trade in Growth Mode for ‘Some Time,’ Says Yergin

All claims to the contrary, the oil and gas industry is not dying a slow death, with the outlook for U.S. exports looking strong long term, according to one of the energy world’s leading thought leaders. Master storyteller Daniel Yergin, more often the inquirer, had much to share with NGI in a recent conversation about…

October 2, 2020

4Q2019 Earnings: MPLX Remains Focused on Permian, Trims Capex Another $500M

MPLX LP is targeting high-return projects in the Permian Basin-to-Gulf Coast corridor as it continues to streamline 2020 growth capital expenditures (capex) to $1.5 billion, down by another $500 million from the most recent estimate.

February 4, 2020

4Q2019 Earnings: MPLX Remains Focused on Permian, Trims Capex Another $500M

MPLX LP is targeting high-return projects in the Permian Basin-to-Gulf Coast corridor as it continues to streamline 2020 growth capital expenditures (capex) to $1.5 billion, down by another $500 million from the most recent estimate.

February 4, 2020

4Q2019 Earnings: Natural Gas Supply, LNG Demand Solid for Long Term, Says Baker Hughes

Recent spot price weakness and fewer sanctions expected this year for export projects have not changed the overall long-term supply and demand picture for liquefied natural gas (LNG), Baker Hughes Co. CEO Lorenzo Simonelli said Wednesday.

January 22, 2020

4Q2019 Earnings: Natural Gas Supply, LNG Demand Solid for Long Term, Says Baker Hughes

Recent spot price weakness and fewer sanctions expected this year for export projects have not changed the overall long-term supply and demand picture for liquefied natural gas (LNG), Baker Hughes Co. CEO Lorenzo Simonelli said Wednesday.

January 22, 2020
Led by U.S., Non-OPEC Oil Output Seen Comfortably Supplying Softer Global Demand

Led by U.S., Non-OPEC Oil Output Seen Comfortably Supplying Softer Global Demand

Plentiful oil production growth from countries that are not members of the Organization of the Petroleum Exporting Countries (OPEC) should adequately supply “any likely level” of demand through 2020, helping to contain prices for consumers in a “vulnerable” global economy, according to the International Energy Agency (IEA).

June 18, 2019
Devon Boosts ’19 Oil Output Forecast on Strong Permian Delaware Results

Devon Boosts ’19 Oil Output Forecast on Strong Permian Delaware Results

Devon Energy Corp. has increased its projections for Lower 48 oil production growth to 17% from 2018, up 200 basis points from previous guidance, on improving well productivity and capital efficiencies, particularly in the Permian Basin.

May 1, 2019

Permian Helping Fuel Oversupply as NatGas Prices Headed for ‘Down Year,’ Says Raymond James

Facing an oversupply that has been compounded by associated gas growth in the Permian Basin, natural gas prices could be headed for a “down year” in 2019 as demand is unable to keep up, according to analysts with Raymond James & Associates Inc.

April 2, 2019
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