Earnings

U.S. Coal Market Fundamentals Said ‘Extremely Strong’ as Natural Gas Prices Soar

U.S. Coal Market Fundamentals Said ‘Extremely Strong’ as Natural Gas Prices Soar

The coal market is witnessing a resurgence in the United States as natural gas prices skyrocket and utilities turn to coal-powered generation, according to Alliance Resource Partners LP (ARLP) CEO Joseph Craft. “Commodity prices for each of our business segments have skyrocketed to levels not experienced in several years,” Craft said as second quarter earnings…

July 28, 2021
Range Resources Reports Highest Ever NGL Premium Amid Booming International Demand

Range Resources Reports Highest Ever NGL Premium Amid Booming International Demand

Appalachian pure-play Range Resources Corp. reported the highest natural gas liquids (NGL) premium to the Mont Belvieu, TX, benchmark in its history during the second quarter and recorded its best NGL price since 2014 as demand for fuels like ethane and propane has soared this year.  Range’s unhedged realized NGL price for the quarter was…

July 27, 2021
Precision’s Canada Rig Count Usurps 2019 Levels, with U.S. E&P Demand Emerging

Precision’s Canada Rig Count Usurps 2019 Levels, with U.S. E&P Demand Emerging

Precision Drilling Corp., whose operations extend across Canada, the Lower 48 and overseas, is running more rigs today than in the pre-pandemic days of 2019, with activations now underway, according to CEO Kevin Neveu. Speaking to investors during the 2Q2021 conference call, Neveu said the Calgary-based oilfield services giant delivered higher-than-expected revenue during 2Q2021.  In…

July 27, 2021
Canadian Oilsands Player Meg Energy Back in Black on Stronger Prices, Gulf Coast Exports

Canadian Oilsands Player Meg Energy Back in Black on Stronger Prices, Gulf Coast Exports

Increased production, improved prices and strong exports to the United States turned Canadian oilsands specialist Meg Energy Corp. profitable in the first half of 2021, reversing deep losses inflicted a year ago by the Covid-19 pandemic. The Calgary firm’s bitumen production in northeastern Alberta grew to a first-half 2021 average of 91,326 b/d from 83,622…

July 26, 2021
Chart Industries Optimistic on U.S. LNG, Reports Record Orders for Third Straight Quarter

Chart Industries Optimistic on U.S. LNG, Reports Record Orders for Third Straight Quarter

Chart Industries Inc. CEO Jill Evanko expressed optimism on Thursday that up to four large U.S. liquefied natural gas (LNG) export projects could be sanctioned early next year following a flurry of activity in the past two months. Evanko said she was “very bullish on one to four U.S. Gulf Coast export projects that already…

July 26, 2021
Schlumberger Sees International Activity Leading Post-Covid Recovery, while North America Growth Moderates

Schlumberger Sees International Activity Leading Post-Covid Recovery, while North America Growth Moderates

The head of oilfield services (OFS) giant Schlumberger Ltd. said the company is “seizing the beginning of the upcycle,” with international activity expected to lead growth — and North America set to moderate — in the continued recovery from Covid-19. On the 2Q2021 earnings call with investors Friday, CEO Olivier Le Peuch said that while…

July 24, 2021
Baker Hughes Bullish on Global Natural Gas Market; Investment in Energy Transition Continues

Baker Hughes Bullish on Global Natural Gas Market; Investment in Energy Transition Continues

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…

July 23, 2021
Santos Sees LNG Sales Drop After Darwin Selldown; Overall Revenue Hits Record on Stronger Pricing

Santos Sees LNG Sales Drop After Darwin Selldown; Overall Revenue Hits Record on Stronger Pricing

Australian liquefied natural gas (LNG) exporter Santos Ltd. saw sales volumes and revenue from the super-chilled fuel drop in 2Q2021 following the sale of a chunk of its ownership in the Darwin LNG plant in the northern part of the country. Santos said Thursday it logged 1.04 million metric tons (mmt) in LNG sales volumes…

July 23, 2021
Steamy Summer Weather, Producer Discipline Drive Stout Gains for Natural Gas Forward Prices

Steamy Summer Weather, Producer Discipline Drive Stout Gains for Natural Gas Forward Prices

With the scorching temperatures the South Central United States is used to seeing in the summer finally starting to build, and production lagging recent highs, August natural gas forward prices soared 32.0 cents on average during the trading period ending July 21, according to NGI’s Forward Look. Price gains were just as impressive for the…

July 22, 2021
Halliburton Anticipating ‘Multi-Year Upcycle’ After Improving on Income, Revenue in 2Q2021

Halliburton Anticipating ‘Multi-Year Upcycle’ After Improving on Income, Revenue in 2Q2021

Following a second quarter of across-the-board sequential improvement for the company’s financial metrics, including a 12% increase in revenue for its North America segment, management for Halliburton Co. sees itself at the start of a “multi-year upcycle.” Reported quarterly losses in 2020 were steep, but after getting back into the black financially in the first…

July 22, 2021
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