Earnings

National oil companies (NOCs) in Latin America enjoyed record profits in the second quarter on the back of high oil and gas prices, but they remain under pressure from governments facing economic crises. The high oil and gas price environment “has come with a downside which is that in the domestic market, it is very…

Recent Permian Basin natural gas pipeline marketing deals will reduce Callon Petroleum Corp.’s reliance on Waha Hub pricing, management of the Texas-focused independent said earlier this month. “These transactions will increase our pricing exposure to Gulf Coast gas pricing and provide additional flow assurance benefits,” CEO Joe Gatto told analysts during the second quarter earnings…

Brazilian national oil company Petróleo Brasileiro SA (Petrobras) saw falling natural gas demand and the need for fewer LNG cargoes for the second consecutive quarter as rainfall continued to replenish the nation’s reservoirs. Natural gas demand dropped to 56 million cubic meters/day (MMm3/d) in the second quarter, compared to 83 MMm3/d in the same period…

Broader tax breaks in the recently enacted Inflation Reduction Act of 2022 (IRA) will entice more sectors of the U.S. economy to embrace carbon sequestration, according to Denbury Inc. The independent, a carbon dioxide (CO2) pipeline and enhanced oil recovery specialist, is positioning itself for anticipated market growth, management said during the recent second quarter…

Houston-based independent Murphy Oil Corp.’s recent wells at its Eagle Ford Shale and Tupper Montney acreage in Western Canada are “exceeding production expectations,” management said earlier this month. The producer “continues to successfully execute a significant and intricate project in the Gulf of Mexico, while our onshore team has enhanced production volumes and accelerated returns…

SilverBow Resources Inc. expects to substantially grow its natural gas and liquids production this year and next and continues to enjoy “favorable basis pricing” in the Eagle Ford Shale, management said. SilverBow, which operates exclusively in the Eagle Ford and Austin Chalk formations, is targeting year/year production growth of 30% in both 2022 and 2023,…

Opal Fuels Inc., a vertically integrated waste-to-energy company focused on renewable natural gas (RNG), saw fuel sales jump in the first half of the year. During the first six months of the year the White Plains, NY-based company sold 14.3 million gasoline gallon equivalents (GGEs) of transportation fuel, of which 13.1 million GGEs were RNG.…

Argentine national oil company YPF SA has raised its capital expenditure (capex) forecast for full-year 2022, with a focus on developing the Vaca Muerta Shale formation. New CEO Pablo Iuliano and CFO Alejandro Lew hosted a conference call to discuss the 51% state-owned company’s second-quarter results. “Better-than-expected economic performance so far in 2022 enhanced our…

Underinvestment in oil and natural gas supply could threaten global energy security and decarbonization efforts over the coming years, according to the CEO of Saudi Arabia’s state-owned oil behemoth.  Saudi Arabian Oil Co. (Aramco) CEO Amin Nasser hosted a conference call to discuss the national oil company’s (NOC) record-breaking first-half results. “Oil demand is likely…