Sequentially

Chevron Corp.’s combined U.S. liquids and natural gas production fell an estimated 3% sequentially in 1Q2007 from 4Q2006 following third-party pipeline downtime that affected operations in the Gulf of Mexico and the San Joaquin Valley, the company said in an interim quarterly update. Combined international output also fell 1%.

Houston-based W&T Offshore Inc. grew third-quarter production by 50% over the year-ago period and 32% sequentially from the second quarter. Year-to-date production is at an all-time high and projected to increase more than 50% next year. And seven of seven Gulf of Mexico (GOM) exploration wells were declared successes in the third quarter.

Houston-based W&T Offshore Inc. grew third-quarter production by 50% over the year-ago period and 32% sequentially from the second quarter. Year-to-date production is at an all-time high and projected to increase more than 50% next year. And seven of seven Gulf of Mexico (GOM) exploration wells were declared successes in the third quarter.

Sustained shut-in production in the Gulf of Mexico (GOM) in the final quarter of 2005 depressed U.S. natural gas production 1.4% sequentially and 6.5% year-over-year, according to a survey by the Gerdes Group of 42 of the largest public exploration and production (E&P) companies.

Sustained shut-in production in the Gulf of Mexico (GOM) in the final quarter of 2005 depressed U.S. natural gas production 1.4% sequentially and 6.5% year-over-year, according to a survey of 42 of the largest public exploration and production (E&P) companies by the Gerdes Group.

BP plc on Tuesday estimated 2Q2005 oil and natural gas production will be about 4.101 MMboe/d, flat sequentially, but up about 3.5% from the 3.971 MMboe/d reported for the same period a year ago. The London-based major reiterated that its average full-year production is expected to range between 4.1 and 4.2 MMboe/d.

BP plc’s third quarter oil and natural gas production is up 11% from the same period a year ago, but lower sequentially from the second quarter because of annual facilities maintenance and shut-ins from Hurricane Ivan, the company said last week. The London-based major, which is scheduled to report 3Q earnings on Oct. 26, still expects average production for 2004 to meet a previous target of at least 4 MMboe/d.

BP plc’s third quarter oil and natural gas production is up 11% from the same period a year ago, but lower sequentially from the second quarter because of annual facilities maintenance and shut-ins from Hurricane Ivan, the company said Monday. The London-based major, which is scheduled to report 3Q earnings on Oct. 26, still expects average production for 2004 to meet a previous target of at least 4 MMboe/d.

Second quarter earnings and cash flow for exploration and production (E&P) companies are forecast to be “at or above record levels, up 0-10% sequentially,” according to a report by CreditSights energy consultants. Earnings are expected to be driven by continued commodity price and refining margin strength.