Second Quarter

Equitrans Midstream Corp. is making headway to increase natural gas connectivity in the Appalachian Basin, with management evaluating shipper interest received during a recent open season. The binding open season was related to Equitrans’ transmission system. It would increase shipper access to downstream markets in the Midwest and Gulf Coast, primarily through existing delivery interconnects…

Following repairs, all five of Chevron Corp.’s liquefied natural gas (LNG) trains at the Gorgon export project in Australia are online, the Upstream chief said Friday. Executive Vice President Jay Johnson discussed the progress at Gorgon during a second quarter conference call.  Chevron, which operates Gorgon with a 47.3% stake, took it temporarily offline last…

Royal Dutch Shell plc, the undisputed global leader of natural gas trading, reported a shortfall in sales and volumes during the second quarter, but many maintenance-related issues are expected to be resolved within weeks. Shell’s Integrated Gas business, which includes the estimable liquefied natural gas (LNG) arm, long has been a standout performer. However, in…

Baker Hughes Co. (BKR) has made investment in “new energy frontiers” a key part of its strategy moving forward, but management for the oilfield services provider still sees a bright outlook for the global natural gas market. Remarking on the company’s recently released 2Q2021 financial results, CEO Lorenzo Simonelli struck an optimistic tone when discussing…

Norwegian state player Equinor ASA logged lower overall U.S. oil and natural gas production in 2Q2021 primarily because of its recent Bakken Shale exit, but that decline was offset by growth in the gassy Marcellus Shale. Average daily equity production of liquids and gas was 391,000 boe/d in 2Q2021 compared with 405,000 boe/d in the…

Baker Hughes Co. is projecting global demand growth for oil and natural gas into the second half of the year, aligned with rising demand for carbon-neutral products. “As we look ahead to the rest of 2021, we remain cautiously optimistic that the global economy and oil demand will recover from the impact of the global…

Consumption in the industrial sector is expected to drive a 3.2% year/year (y/y) increase in global natural gas demand during 2021, according to a second quarter Gas Market Report published by the International Energy Agency (IEA). This compares with a 2.8% increase forecast in the 1Q2021 report, IEA’s inaugural offering in the series. The projected…

Houston-based ConocoPhillips has begun ramping up shut-in oil and gas volumes from across North America, with most output set to be “fully restored” in September. The largest independent in the world issued its second quarter results on Thursday, with CEO Ryan Lance sharing insight during a conference call. He acknowledged what many of his peers…

North American explorer Ovintiv Inc. has brought back online substantially all of its shut-in volumes of 32,000 boe/d, including 18,000 b/d of crude and condensate voluntarily curtailed in the second quarter, CEO Doug Suttles said Wednesday. Suttles during the quarterly conference call credited efficiencies achieved by reducing costs and the workforce, as well as financial…