second quarter earnings

Lower 48 independent Coterra Energy Inc. exceeded production guidance during the second quarter across the board – for natural gas, oil and liquids – lifted by outperformance in well results and a 9% jump in Marcellus Shale natural gas volumes. “This beat was driven by many factors, including optimization of completions design spacing, landing zone…

Diamondback Energy Inc. is expecting oilfield services (OFS) costs to ease amid a current slowdown of activity in the Lower 48, according to CEO Travis Stice. Stice hosted a conference call to discuss second quarter earnings for the Midland, TX-based Permian Basin pure-play. Diamondback’s OFS providers “have always been responsive” to declines in the Permian…

Enbridge Inc. is bulking up its natural gas storage capabilities and betting big on long-term demand for North American exports of LNG, viewing the super-chilled fuel as a key source of energy for decades to come. “Natural gas and oil will remain critical components of our energy supply in all energy transition scenarios that balance…

Europe has a better forecast for natural gas storage ahead of this coming winter, but it’s too soon to say whether the continent is fully prepared, BP plc CEO Bernard Looney said Tuesday. During the conference call to discuss second quarter results, Looney said the weather, as usual, will be the deciding factor.  Regarding Europe’s…

U.S. natural gas prices may be bottoming out, with more positive signs to the end of the year, according to several energy analyst teams previewing quarterly profits. The top oilfield services (OFS) companies are set to roll out their second quarter 2023 results beginning this week, along with some midstream operators. In the next few…

Broader tax breaks in the recently enacted Inflation Reduction Act of 2022 (IRA) will entice more sectors of the U.S. economy to embrace carbon sequestration, according to Denbury Inc. The independent, a carbon dioxide (CO2) pipeline and enhanced oil recovery specialist, is positioning itself for anticipated market growth, management said during the recent second quarter…

Houston-based independent Murphy Oil Corp.’s recent wells at its Eagle Ford Shale and Tupper Montney acreage in Western Canada are “exceeding production expectations,” management said earlier this month. The producer “continues to successfully execute a significant and intricate project in the Gulf of Mexico, while our onshore team has enhanced production volumes and accelerated returns…

Calgary-based Crescent Point Energy Corp. is focused on producing liquids from the Kaybob Duvernay formation while working to control continued supply chain issues through efficiencies, management said. The independent issued its 2Q2022 results in late July, noting it has a wary eye on the inflation threats to profitability. “The company has controlled a significant portion…

Calgary-based Keyera Corp., whose massive pipeline system intended to move liquids from the Montney Shale is 70% complete, is awaiting a new partner to potentially take half-ownership in the project after the Competition Board of Canada ordered a partner’s sale. CEO Dean Setoguchi, who discussed second quarter results during a conference call, said the Competition…