Profits

Two New Fractionators Planned for Mont Belvieu

The midstream sector continued to respond last week to producers’ thirst for natural gas liquids (NGL) profits with the announcement of two Gulf Coast projects to handle growing production and another that would increase transport of Rockies NGLs to the Gulf.

May 9, 2011

Cabot Grows Production But Profits Fall

Cabot Oil & Gas Corp. saw profits shrink but production rise in the first quarter compared to the year-ago period, the result of low natural gas prices combined with expansion of operations in the Marcellus and Eagle Ford shales.

May 2, 2011

Cabot Grows Production But Profits Fall

Cabot Oil & Gas Corp. saw profits shrink but production rise in the first quarter compared to the year-ago period, the result of low natural gas prices combined with expansion of operations in the Marcellus and Eagle Ford shales.

April 29, 2011

Baker Hughes CEO: North America Pressure Pumping ‘Sold Out’

Baker Hughes Inc. on Wednesday reported a surge in profits for the first quarter, boosted by a huge demand for oilfield services across U.S. and Canadian unconventional natural gas and oil plays.

April 28, 2011

Encana Nabs Duvernay Shale Acreage, Looks for More JVs

Encana Corp.’s latest quarterly profits took it on the chin because of low natural gas prices, but the Calgary producer is responding with a realignment by transferring proven gas shale technology to liquids plays, advertising for partners to share costs in gassy northeast British Columbia (BC), and quietly acquiring an oily leasehold in Alberta’s Duvernay Shale.

April 21, 2011

Kitimat, Permian Part of Apache’s 2011 Outlook

Reporting record profits for all of last year and record fourth quarter production, Apache Corp. senior executives Thursday painted a bullish outlook for this year that includes moving ahead with its newly acquired Kitimat liquefied natural gas (LNG) export project in western Canada and stepping up production of the Permian Basin assets it acquired from BP plc.

February 22, 2011

Kitimat, Permian Part of Apache’s 2011 Outlook

Reporting record profits for all of last year and record fourth quarter production, Apache Corp. senior executives last Thursday painted a bullish outlook for this year that includes moving ahead with its newly acquired Kitimat liquefied natural gas (LNG) export project in western Canada and stepping up production of the Permian Basin assets it acquired from BP plc.

February 21, 2011

PG&E Takes $283M Hit From Pipeline Rupture

While still posting in excess of $1 billion in profits for all of last year, San Francisco-based PG&E Corp. reported Thursday that it took $283 million, or 43 cents/share, in charges for its utility’s fatal San Bruno transmission pipeline rupture last September.

February 18, 2011

TransCanada Profits Hit by One-Time Mackenzie Gas Charge

TransCanada Corp. reported that a one-time charge for the Mackenzie Gas Project offset its fourth quarter profits. Excluding charge, the Calgary-based company saw comparable earnings increase C$56 million from 4Q2009.

February 16, 2011

‘Blistering Hot’ Pressure Pumping Market, Says National Oilwell Exec

Drilling equipment demand in the global offshore, combined with unstoppable pressure pumping activity across North America, boosted the year/year performance for Houston’s National Oilwell Varco (NOV).

February 7, 2011