After emerging from bankruptcy in May with a new management team, Gulfport Energy Corp. has overhauled its operations with a focus on capital discipline, free cash flow (FCF) generation and investor returns over production growth. The company wiped $1.2 billion of debt from its balance sheet during the restructuring and it’s now focused on sustainability,…
second quarter earnings
Articles from second quarter earnings
Aramco Boosting Petroleum Production as Demand Recovers, Using Natural Gas to Expand Hydrogen Options
Global petroleum demand should reach pre-pandemic levels by early 2022, putting Saudi Arabia’s state-owned oil company in a sweet spot as it boosts production, executives said Monday. Saudi Arabian Oil Co., aka Aramco, saw a 288% jump in profits from a year ago as oil prices jumped. Petroleum consumption is rising as vaccination rates improve…
August 10, 2021
Comstock Bullish on Bossier’s Potential, but Takes Hit on Hedging
Management at U.S. independent Comstock Resources Inc., which has made its name as a Haynesville Shale natural gas giant, is increasingly bullish on the Bossier formation as part of its strategy. Of the 21 wells the Frisco, TX-based company turned to sales in 2Q2021, only two were Bossier wells, management said during the second quarter…
August 10, 2021
Lower 48 Output More than Doubles on Concho Takeover, Says ConocoPhillips
Houston-based ConocoPhillips reported higher earnings in 2Q2021 as it benefited from higher commodity prices and production driven by its recent acquisition of Permian Basin pure-play Concho Resources Inc. Excluding output from its Libya operations, the super independent reported 2Q2021 output of 1.55 million boe/d, a 566,000 boe/d increase over the same period of 2020. The…
August 3, 2021
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