Earnings

Canada’s Tamarack Valley to Acquire Private E&P Crestwynd

Canada’s Tamarack Valley to Acquire Private E&P Crestwynd

A 155 square-mile package of northern Alberta oil production and drilling targets is changing hands in a C$184.7 million ($147.7 million) corporate takeover by Tamarack Valley Energy Ltd. announced Wednesday.  Tamarack agreed to pay C$92.6 million ($74 million) in cash and trade 26.3 million shares valued at C$3.50/share ($2.80) for privately owned Crestwynd Exploration Ltd. …

December 21, 2021
Certifying Appalachia Natural Gas as Responsibly Sourced Expands for Private E&Ps, Midstreamers

Certifying Appalachia Natural Gas as Responsibly Sourced Expands for Private E&Ps, Midstreamers

More Lower 48 producers and increasingly, midstream operators, are looking to Project Canary to earn environmental certification for their natural gas supplies. Related entities Tug Hill Operating LLC and XcL Midstream Operating LLC, which principally operate in West Virginia’s Marshall and Wetzel counties, have partnered to gain the responsibly sourced gas (RSG) designation across all…

December 9, 2021
What’s Ahead for Lower 48 Oil and Gas Players in 2022? Listen Now to NGI’s Hub & Flow

What’s Ahead for Lower 48 Oil and Gas Players in 2022? Listen Now to NGI’s Hub & Flow

Click here to listen to the latest episode of NGI’s Hub & Flow podcast in which NGI’s Patrick Rau, director of Strategy & Research, shares takeaways from the third quarter energy company earnings results and insight into what’s ahead for operators in the Lower 48. In “Shale 4.0 — Natural Gas Earnings Takeaways from 3Q21,”…

December 1, 2021
U.S. E&Ps Said on Verge of ‘Energy Super Cycle’ Heading into New Year

U.S. E&Ps Said on Verge of ‘Energy Super Cycle’ Heading into New Year

The U.S. exploration sector delivered its fourth straight quarter of outperformance in 3Q2021, setting the sector up for what should be solid growth in 2022, according to energy prognosticators. Solid cash flow by the domestic exploration and production (E&P) companies was accelerated by the high commodity prices. However, the three-month period also represented a “stabilized…

November 24, 2021
Goodrich Going Private in $480M Deal as Haynesville — and Natural Gas Prices — Heat Up

Goodrich Going Private in $480M Deal as Haynesville — and Natural Gas Prices — Heat Up

Publicly listed independent Goodrich Petroleum Corp. has agreed to be taken private by Paloma Partners VI Holdings LLC in a deal valued at roughly $480 million. Paloma, an affiliate of EnCap Energy Capital Fund XI LP, plans to launch a tender offer to acquire for $23/share in cash all of Goodrich’s outstanding common stock.  Goodrich…

November 22, 2021
Atmos Focusing Natural Gas Spending to Expand, Upgrade Distribution System

Atmos Focusing Natural Gas Spending to Expand, Upgrade Distribution System

Dallas-based natural gas distributor Atmos Energy Corp. is earmarking $13-14 billion in planned spending over the next five years on system replacements, expansions and environmental upgrades, executives said on a recent conference call. The Dallas-based natural gas-only distributor has more than three million customers in 1,400-plus communities across eight states, primarily in the South. The…

November 19, 2021
Helmerich & Payne Readying Long-Idled Rigs on Rising E&P Demand

Helmerich & Payne Readying Long-Idled Rigs on Rising E&P Demand

The increasing demand for oil and gas rigs is forecast to climb faster than Helmerich & Payne Inc. (H&P) can accommodate, “meaning we will have to reactivate more long-idled rigs to satisfy demand,” CEO John Lindsay said Thursday. Lindsay and his management team shared a microphone to discuss the fiscal 4Q2021 results and their forecast…

November 18, 2021
Braskem Reports Record Ethane Imports into Mexico, Offsetting Reduced Pemex Supply

Braskem Reports Record Ethane Imports into Mexico, Offsetting Reduced Pemex Supply

Braskem SA reported record-high ethane imports during the third quarter to its polyethylene complex in Coatzacoalcos, Mexico, and the figure is set to continue growing. Ethane imports to the Braskem Idesa facility — among the largest petrochemicals plants in Latin America — reached a record 22,400 b/d in September, Braskem management said earlier this month…

November 17, 2021
Colombia’s Ecopetrol Upping Oil, Natural Gas Production, Increasing Capex

Colombia’s Ecopetrol Upping Oil, Natural Gas Production, Increasing Capex

Colombia’s state oil company Ecopetrol SA has recovered from a production blip in the second quarter and is upping capital expenditures (capex) for 2022 executives said during a recent conference call. Months of anti-government protests starting in late April hampered oil and gas activity in the country in the first half of this year. However,…

November 16, 2021
EOG’s Permian, Eagle Ford Production Ready to Supply Gulf Coast Export Projects

EOG’s Permian, Eagle Ford Production Ready to Supply Gulf Coast Export Projects

Houston-based EOG Resources Inc., one of the Lower 48’s biggest oil and natural gas producers, is looking to give back to shareholders instead of boosting volumes, with discipline still the mantra going into 2022. The independent delivered better-than-expected natural gas, oil and liquids production during 3Q2021, along with sharply higher profits, CEO Ezra Yacob said…

November 16, 2021
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