Upstream

A sizable boost in quarterly output from the exploration arm, as well as stronger midstream volumes, have helped fuel Appalachian Basin-focused National Fuel Gas Co. (NFG) as it shifts focus to undeveloped acreage in the Marcellus and Utica shales. Management told investors during a third quarter conference call the firm’s performance reflected its approach to…

Chord Energy Corp. executives, in an inaugural earnings call after emerging from the merger of two key Bakken Shale players, said the firm’s core assets beat production expectations during the second quarter of 2022 and helped set a course for the new company. Chord was formed by the merger of independents Whiting Petroleum Corp. and…

Tulsa-based drilling expert Helmerich & Payne (H&P) is getting more bang for its buck, as North American pricing improves for the super-spec FlexRig fleet. CEO John Lindsay and CFO Mark Smith led a recent conference call to discuss fiscal 3Q2022 results with analysts.  In the North American Solutions segment, efforts earlier this year to “achieve…

Houston-based Marathon Oil Corp. held its natural gas and oil production levels relatively steady during the second quarter, a trend it plans to continue, as it prioritizes financial stability over capitalizing on lofty commodity prices. CEO Lee Tillman told investors during a 2Q2022 conference call the exploration and production (E&P) company was focused on remaining…

Houston-based Coterra Energy Inc., created from a merger between Cabot Oil & Gas Corp. and Cimarex Energy Co., surpassed natural gas and oil production guidance in the second quarter, setting the independent up for higher-than-forecast volumes this year. Total production from three Lower 48 plays – the Anadarko and Permian basins and the Marcellus Shale,…

After a series of acquisitions, Crestwood Equity Partners LP is now in “harvest mode,” with a focus on generating strong growth in the core areas of the Williston, Permian Delaware and Powder River basins, management said. Crestwood earlier this month closed on the acquisition of Permian-focused Sendero Midstream Partners LP, boosting its natural gas processing…

With activity climbing in Texas, the U.S. rig count surged nine units higher to 767 for the week ended Friday (July 29), according to the latest tally from oilfield services provider Baker Hughes Co. (BKR). Oil-directed drilling increased by six rigs domestically, with two natural gas-directed rigs and one miscellaneous unit also added for the…

ExxonMobil’s ability to invest through the pandemic enabled the supermajor to ramp up supply quickly as demand soared this year, with Permian Basin and LNG supply expanding, CEO Darren Woods said Friday. On the back of the Permian and a flood of investments in Guyana and liquefied natural gas projects worldwide, ExxonMobil’s deep pockets have…

Diversified Energy Co. plc said Thursday it is acquiring about 1,500 producing Midcontinent wells from ConocoPhillips. The $240 million Anadarko Basin bolt-on, funded with existing cash and debt, would expand Diversified’s Oklahoma and Texas footprint in the company’s Central Region. The former Appalachian Basin pure play also holds assets in the gassy Barnett and Haynesville…