Encana Corp., one of the biggest natural gas producers in North America, knocked out low prices during 1Q2012 with a solid commodity price hedging program, asset sales and joint ventures, turning the table on year-ago losses. To keep a stranglehold on declining prices, the independent is reducing gas production through spending cuts and shutting in wells, the CEO said last week.
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Encana to Reduce Onshore Gas Output through 2012
Encana Corp., one of the biggest natural gas producers in North America, knocked out low prices during 1Q2012 with a solid commodity price hedging program, asset sales and joint ventures, turning the table on year-ago losses. To keep a stranglehold on declining prices, the independent also is reducing gas production through spending cuts or shut-in wells.
W&T Shares Spike on Strong 4Q
A turn toward oil and natural gas liquids (NGL) last year did a good turn for earnings at Houston-based W&T Offshore Inc. “Solid” oil and liquids production in a bull market for same lifted the company’s operating income to the highest level in its history, CEO Tracy W. Krohn told financial analysts Friday.
Halliburton Sees Challenges in Move from Gas to Liquids Plays
A combination of fit-for-purpose technology with solid execution in drilling horizontal wells using hydraulic fracturing (fracking) is giving Halliburton Co. confidence that it can deliver on its “frack-of-the-future” strategic initiatives, a company executive said Monday.
Williams Primed for Marcellus Pipe, E&P Expansions
Tulsa-based Williams continues to be primed for solid natural gas infrastructure expansions in North America, with the biggest still planned for the Marcellus Shale, CEO Alan Armstrong said Wednesday.
Big Oil Profits Surge in First Quarter
ExxonMobil Corp.’s profits in the first three months of 2011 eclipsed its peers on higher natural gas production and solid chemical returns, harkening back to the industry’s boom days before the late 2008 global economic collapse. Chevron Corp., BP plc, ConocoPhillips and Royal Dutch Shell plc were among several big producers also reporting profitable results.
ExxonMobil Profits Up 69% on Gas, Chemical Earnings
ExxonMobil Corp.’s profits soared in the first three months of 2011 from a year ago, gaining on higher natural gas production and solid chemical returns, and harkening back to the industry’s boom days before the late 2008 global economic collapse.
Halliburton CEO: Industry on Verge of Major Upcycle
A solid performance in North America’s onshore during the first three months of 2011 lifted Halliburton Co.’s profits from a year ago, helping to overcome the losses in the Gulf of Mexico (GOM) and geopolitical turmoil overseas, CEO Dave Lesar said last week.
Halliburton CEO: Industry on Verge of Major Upcycle
A solid performance in North America’s onshore during the first three months of 2011 lifted Halliburton Co.’s profits from a year ago, helping to overcome the losses in the Gulf of Mexico (GOM) and geopolitical turmoil overseas, CEO Dave Lesar said Monday.
Traders See Nuclear Incident, Market Squeeze Prompting April Gains
April natural gas futures posted a solid advance Tuesday, leaving some calling for a new price regime while others still see a continuation of a rangebound market. At the close April had risen 9.3 cents to $4.254, the highest settlement since early February, and May gained 9.0 cents to $4.331. The expired April crude oil contract rose $1.67 to $104.00/bbl.