Earnings

Permian Pure-Plays Laredo, Centennial See Production Back on Track Post-Uri

Permian Pure-Plays Laredo, Centennial See Production Back on Track Post-Uri

Permian Basin pure-plays Laredo Petroleum Inc. and Centennial Resource Development Inc. each reported production impacts from the freezing weather wrought by Winter Storm Uri during February, but the storm also resulted in a sharp uptick in revenue from selling more oil and gas.  Tulsa,OK-based Laredo reported Permian volumes were down year/year at 78,989 boe/d from…

May 8, 2021
Sempra’s California, Texas Utilities Focusing on Decarbonization, Regulatory Boost

Sempra’s California, Texas Utilities Focusing on Decarbonization, Regulatory Boost

Energy infrastructure holding company Sempra Energy wants its California and Texas utilities to achieve net-zero emissions by 2045, but they need some help from technology innovations and regulators, executives said. A key for California utilities, including Southern California Gas Co. (SoCalGas), is developing renewable natural gas (RNG) as a decarbonizing tool, CEO Jeff Martin said…

May 8, 2021
Goodrich Ramping Haynesville Natural Gas Production on High Prices, Productive Wells

Goodrich Ramping Haynesville Natural Gas Production on High Prices, Productive Wells

Goodrich Petroleum Corp. plans to ramp up natural gas production in the resurgent Haynesville Shale this year, citing strong commodity pricing and high productivity from recently completed wells in northwestern Louisiana. “The core of the Haynesville continues to offer low development and lifting costs, top-tier cash margins and returns on invested capital, as well as…

May 7, 2021
Canadian Natural Expands Natural Gas Production, Gains on Rise in Commodity Prices

Canadian Natural Expands Natural Gas Production, Gains on Rise in Commodity Prices

Calgary production giant Canadian Natural Resources Ltd. (CNRL) scored a comeback in the first three months of 2021, reversing losses inflicted a year earlier by Covid-19 and the slump in oil and gas prices. “As the global vaccine distribution increases and crude oil demand recovers, especially in the United States, we are seeing improved commodity…

May 7, 2021
Antero Warns of Winter Propane Shortages Without Adequate Stock Builds

Antero Warns of Winter Propane Shortages Without Adequate Stock Builds

Executives at Appalachian pure-play Antero Resources Corp., the nation’s second largest natural gas liquids (NGL) producer, are warning that without an adequate build in propane inventories through the fall, the world would be undersupplied this winter.  “U.S. domestic propane buyers will need to outbid export markets this summer to build sufficient inventories for this upcoming…

May 7, 2021
Pioneer Claims No. 1 Permian Producer Spot with DoublePoint, Parsley Acquisitions

Pioneer Claims No. 1 Permian Producer Spot with DoublePoint, Parsley Acquisitions

With two big transactions completed in a matter of months, Pioneer Natural Resources Co. has become the largest producer in the Permian Basin and should produce up to 700,000 boe/d-plus in 2022, CEO Scott Sheffield said Wednesday. The Dallas-based independent this week completed a $6.4 billion purchase of privately held West Texas competitor DoublePoint Energy…

May 6, 2021
Apache Nabs $4-Plus for Permian Natural Gas, Boosted by Prescient Hedging Strategy

Apache Nabs $4-Plus for Permian Natural Gas, Boosted by Prescient Hedging Strategy

After fetching $4.61/Mcf for its Permian Basin natural gas in the first quarter, APA Corp. is stepping up its activity in some prospects and extending its exploration in Texas, executives said Thursday. The gassy Alpine High development in the Permian Delaware sub-basin of West Texas had been the Houston-based explorer’s No. 1 global play. As…

May 6, 2021
Comstock Looking at ‘Moderate’ Haynesville Natural Gas Production Growth as Prices Rise

Comstock Looking at ‘Moderate’ Haynesville Natural Gas Production Growth as Prices Rise

Haynesville Shale giant Comstock Resources Inc. should see “moderate” production growth this year as market conditions improve, executives said Wednesday during a first quarter earnings call. The Frisco, TX-based independent has 323,000 net acres in the Haynesville/Bossier formations across East Texas and North Louisiana, one of the gassiest regions of the country. Production this year…

May 6, 2021
EQT Enters Northeast Pennsylvania in $2.9B Deal for Alta’s Marcellus Assets

EQT Enters Northeast Pennsylvania in $2.9B Deal for Alta’s Marcellus Assets

EQT Corp. agreed Thursday to acquire Alta Resources Development LLC in a $2.9 billion deal that would add another 300,000 net Marcellus Shale acres and give it entry into Northeast Pennsylvania.  The nation’s largest natural gas producer said the acquisition would push its volumes to 5.6 Bcfe/d from 4.6 Bcfe/d. Once completed, the company would…

May 6, 2021
Canada’s Tourmaline Ramps Natural Gas Production 30% Higher Year/Year

Canada’s Tourmaline Ramps Natural Gas Production 30% Higher Year/Year

Tapping liquids-rich Canadian unconventional natural gas and a continent-wide marketing program paid off for Tourmaline Oil Corp. in the first three months of this year. As the top natural gas producer drilling only in Canada, the Calgary explorer scored a 30% gain to 1.91 Bcf/d in the quarter from 1.47 Bcf/d a year earlier. Liquids…

May 6, 2021
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