Earnings

Natural gas production at Petróleos Mexicanos (Pemex) was 3.639 Bcf/d in 2020, down marginally from the 3.690 Bcf/d produced in 2019. Natural gas utilization, however, suffered in 2020, executives said in the fourth quarter earnings call. Because of high nitrogen content in the gas and other processing issues, 513 MMcf/d was flared from production in…

Tellurian Inc., which continues to work toward a final investment decision on its Driftwood liquefied natural gas (LNG) terminal proposed for Louisiana, plans to acquire additional assets in the Haynesville Shale this year.  The company said in its year-end earnings report that it intends to “pursue potential acquisitions” of properties or companies that own Haynesville…

Continental Resources Inc. expects to generate positive free cash flow (FCF) for a sixth straight year in 2021 amid an improving outlook for oil prices, according to management. During a Feb. 17 conference call to discuss the firm’s 2020 earnings, Executive Chairman Harold Hamm cited “unprecedented challenges” faced in 2020 due to the Covid-19 pandemic,…

Coming off better-than-expected earnings in the Pacific Northwest and Alaska, Avista Corp. executives indicated Wednesday they are undeterred by current electrification trends, reaffirming that the utility arm remains all-in for natural gas. CEO Dennis Vermillion said he thinks the climate change mitigation push to minimize greenhouse gas emissions needs a “holistic approach” that would take…

The Dorado, a stacked play in South Texas where EOG Resources Inc. has amassed a 163,000 net acre leasehold, may be a lock to build the Houston independent’s natural gas market credentials, the executive team said Friday. The formation, which runs through the Austin Chalk and Eagle Ford Shale, has an estimated 21 Tcf net…

After battling the pandemic, civil unrest, trading losses and historic wildfires last year, Portland General Electric (PGE) survived last week with wind, ice and snow storms that ravaged its territory. PGE CEO Maria Pope during a fourth quarter earnings conference call on Friday said Oregon’s largest power utility dealt with “punishing winds, ice, and snow,”…

Appalachian heavyweights Cabot Oil & Gas Corp. and Range Resources Corp. both plan to keep spending and production flat this year despite an improving outlook for natural gas.  “While a warmer start to the winter heating season and higher storage levels resulted in wider than anticipated differentials across the Appalachian Basin during the fourth quarter,…

Occidental Petroleum Corp.’s vision to yank carbon emissions from the atmosphere in its top development, the Permian Basin, took a giant step forward Tuesday with the first engineering phase given the green light. Australia’s Worley Ltd. was awarded the front-end engineering and design (FEED) for the first of four phases of the direct air capture…

California-based Sempra Energy continues to bet on Mexico even given regulatory changes that could impact the private sector’s operations in the country. “Our goal is to help Mexico be successful,” CEO Jeffrey Martin said in a fourth quarter earnings call. “They need more foreign direct investment. They have a deficit in their infrastructure.”  The administration…