Earnings

North American completions expert Calfrac Well Services Ltd. leveraged its diverse geographical footprint during the second quarter to overcome lost operating days wrought by Canada’s wildfires and manage the “uncontrollable events.”  The move was prescient, allowing the Calgary-based pressure pumper to avoid pitfalls from the numerous wildfires that continue to sweep Canada. Operations are centered…

Australia’s largest oil and natural gas producer Woodside Energy Group Ltd. continues to make progress on the massive Trion development offshore Tamaulipas in northeastern Mexico. The company reached a final investment decision (FID) on the project in June.  “Following FID, Woodside executed a contract with South Korea’s Hyundai Heavy Industries for the construction of the…

Calgary-based Peyto Exploration & Development Corp. is prepared to ramp up development in the fall if natural gas prices strengthen in Western Canada and North America overall, according to CEO J.P. Lachance. Lachance hosted a conference call earlier this month to discuss second quarter results for the gas-weighted producer, which operates in the liquids-rich Alberta…

Some North American renewable natural gas (RNG) operators are expecting a more favorable market for selling environmental credits after federal biofuel volume requirements were updated. Three of the largest domestic RNG operators said in their second quarter results that revamped rules issued in June by the U.S. Environmental Protection Agency (EPA) may help them improve…

Growing requirements for industrial chemistry to improve natural gas and oil pipeline flows and drilling results lifted second quarter results for CES Energy Solutions Corp., a barometer of activity in Canada and the United States. The Calgary-based company said “the recovery in global energy demand, combined with several years of lower investment in the upstream…

Permian Basin pure-play Kinetik Holdings Inc., whose midstream operations transport natural gas to Gulf Coast markets and beyond, set a processing record in the second quarter, even as high temperatures stalled some exploration and production (E&P) customer operations. The Midland, TX-based operator was created last year in an all-stock transaction between EagleClaw Midstream and Altus…

A year/year plunge in natural gas prices buoyed second-quarter earnings for Mexico’s state power company Comisión Federal de Electricidad (CFE), according to management. CFE operates about 34 GW of natural gas-fired power plants, and is Mexico’s primary importer and marketer of natural gas via pipeline from the United States. Mexico’s imports of U.S. gas have…

Taking a look at insights from North American energy executives in the latest episode of NGI’s Hub & Flow podcast, Patrick Rau, NGI’s director of Strategy & Research, highlights what was said…and what wasn’t during the recent second quarter earnings conference calls. Spoiler alert: executives expect U.S. natural gas prices to increase into 2024 and…

Midstreamer Oneok Inc. hopes to reach a final investment decision (FID) on its proposed 2.8 Bcf/d Saguaro Connector natural gas pipeline later this year. The 155-mile pipeline would transport natural gas from the Waha hub in West Texas to the Mexico border. It would serve the Saguaro LNG export terminal proposed by Mexico Pacific Ltd.…