Earnings

Chart Industries Hit by Supply Chain Woes, but Demand Remains Strong for Oil, Natural Gas Products

Chart Industries Hit by Supply Chain Woes, but Demand Remains Strong for Oil, Natural Gas Products

Chart Industries Inc. wrestled with inflationary pressures and operational challenges during the third quarter that weighed on results, but the company stressed that it continues to see “broad-based” demand for its products.  Chart engineers and manufactures equipment, including systems to liquefy hydrocarbons, hydrogen and helium. Like other industrial companies, supply chain, labor and logistics challenges…

October 25, 2021
Valero Says Gasoline Sales Near Pre-Pandemic Levels, Natural Gas-to-Oil Switching Imminent

Valero Says Gasoline Sales Near Pre-Pandemic Levels, Natural Gas-to-Oil Switching Imminent

Management of refining giant Valero Energy Corp. painted a bullish picture for oil products demand on Thursday, citing low inventories and surging global natural gas prices among factors boosting healthy crack spreads for U.S. refineries. “Refining margins were supported by strong recovery in product demand coupled with product inventories falling to low levels during the…

October 22, 2021
Schlumberger Sees E&P Activity Climbing as Oil, Natural Gas Investments Accelerate

Schlumberger Sees E&P Activity Climbing as Oil, Natural Gas Investments Accelerate

The global oil and natural gas upcycle has begun, with more capital spending set to flow into the onshore and offshore heading into 2022, Schlumberger Ltd. CEO Olivier Le Peuch said Friday. The head of the world’s largest oilfield services (OFS) company shared a bullish view of the energy markets during a third-quarter conference call…

October 22, 2021
Precision Drilling CEO Bullish on Improving North American Oil, Natural Gas Activity

Precision Drilling CEO Bullish on Improving North American Oil, Natural Gas Activity

Precision Drilling Corp., an oilfield services behemoth whose reach extends across Canada, the United States and into international markets, is seeing “ the most promising backdrop for our business that we have experienced in almost a decade,” CEO Kevin Neveu said Thursday.  The bullish views have led the Calgary-based operator to pump up its capital…

October 21, 2021
Kinder Morgan’s Focusing on Natural Gas Growth Today, with Slow Transition to Low-Carbon Projects

Kinder Morgan’s Focusing on Natural Gas Growth Today, with Slow Transition to Low-Carbon Projects

As natural gas demand continues to outstrip supply, Kinder Morgan Inc. is in preliminary discussions with Texas regulators and other stakeholders about expanding storage capabilities outside its current market area, CEO Steven Kean said Wednesday. Kean joined other members of the executive team to discuss with investors the third quarter results. Kean said the additional…

October 21, 2021
Baker Hughes Eyeing More LNG Orders into 2022 as Customers Look to Build Global Supplies

Baker Hughes Eyeing More LNG Orders into 2022 as Customers Look to Build Global Supplies

Baker Hughes Co. expects to score a few orders for liquefied natural gas (LNG) equipment before year’s end, with a double-digit growth forecast for 2022, CEO Lorenzo Simonelli said Wednesday. Simonelli and CFO Brian Worrell shared a microphone to detail for investors the 3Q2021 performance. Some “challenges” hit the bottom during the quarter, Simonelli said,…

October 20, 2021
North American E&Ps Boosting Capex as Natural Gas, Oil Prices Soar, Says Halliburton CEO

North American E&Ps Boosting Capex as Natural Gas, Oil Prices Soar, Says Halliburton CEO

North America exploration and production (E&P) companies should increase their capital spending by 20% in 2022 as they lock up equipment and labor in an ever tightening global market, Halliburton Co. CEO Jeff Miller said Tuesday. The No. 1 completions expert in North America kicked off earnings season for the oilfield services sector in an…

October 19, 2021
ExxonMobil Guiding to Stronger 3Q Results from Soaring Natural Gas Prices

ExxonMobil Guiding to Stronger 3Q Results from Soaring Natural Gas Prices

Higher natural gas prices are predicted to boost ExxonMobil’s third quarter upstream profits by around $700 million, more than forecast for oil, the energy major said. In its 3Q2021 earnings guidance, detailed in a Securities and Exchange Commission Form 8-K filing, ExxonMobil said gas would provide a bigger boost to earnings than oil, compared to…

October 4, 2021
Matador Reports Record Permian Natural Gas, Oil Production and Accelerates Well Completions

Matador Reports Record Permian Natural Gas, Oil Production and Accelerates Well Completions

Matador Resources Co. reported record natural gas, oil and total oil equivalent production during the second quarter, driven by “better-than-expected” performance of 13 new wells in the New Mexico portion of the Permian Basin, according to CEO Joseph Foran. Natural gas production rose 23% sequentially to about 239.1 MMcf/d, while oil output was up 28%…

August 23, 2021
DJ Basin’s Future King Civitas Looking to Complete Extraction, Crestone Mergers Before Year’s End

DJ Basin’s Future King Civitas Looking to Complete Extraction, Crestone Mergers Before Year’s End

Colorado’s biggest oil and gas producer appears on track to complete its dominance of the Denver-Julesburg (DJ) Basin before year’s end, the CEO of Bonanza Creek Energy Inc., soon to be Civitas Resources Inc., said earlier this month. CEO Eric Greager held court during a conference call to discuss the Denver-based independent’s second quarter results.…

August 19, 2021
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