Earnings

Strong demand for industrial chemistry, from drilling fluids to additives that smooth pipeline flows for natural gas and oilfields, lit up first quarter earnings for CES Energy Solutions Corp. Improved results versus the same period last year resulted from “high levels of revenue underpinned by industry stabilization, and continued strong market share,” the oilfield services…

Brazilian national oil company Petróleo Brasileiro SA, aka Petrobras, managed to avoid expensive LNG imports during the first quarter amid historically high reservoir levels at the country’s hydroelectric dams. The majority state-owned firm sourced 63% of its gas supply from domestic production and 37% via pipeline imports from Bolivia during the first quarter. In 1Q2022,…

Executives at Argentina’s state oil and gas firm YPF SA in an earnings call acknowledged the difficult economic environment in the country but said upstream plans remained unchanged. Hydrocarbon production hit 511,000 boe/d in the first quarter of 2023, up 1% year/year. Shale oil and natural gas led the way, mainly from the Vaca Muerta…

The United States was the top revenue generator in the first quarter for Calgary-based Ensign Energy Services Inc., where the oilfield services (OFS) operator expects to see stronger activity going forward.   U.S. revenue was up 65% year/year. Ensign reports in Canadian dollars (C$1.00/US75 cents). U.S. assignments accounted for 57% of the international OFS company’s $484.1…

Ovintiv Inc. balanced its focus between its Permian Basin program and maximizing earnings from its Montney Shale assets during 1Q2023, exceeding production expectations and increasing revenue despite falling U.S. natural gas prices during the quarter. The Denver-based company made good on its word from the previous quarter about its goal to make Permian growth in…

As New Fortress Energy Inc. targets deploying its first Fast LNG unit in the waters offshore Mexico’s eastern coast by June, it’s unveiled new plans to move the successive phases of Altamira LNG to land. For the past several years, the liquefied natural gas vessel firm has been working to become a fuel supplier through…

Devon Energy Corp. has a bundle of opportunities from which to choose when it allocates its capital in the Lower 48, but it has always come down to the price of natural gas and oil, a top executive said this week. COO Clay Gaspar, speaking with analysts during the first quarter 2023 conference call, explained…

Ongoing Alberta bushfires prompted Calgary’s Keyera Corp. to close and evacuate six natural gas plants in the region as a precaution, but executives remain optimistic that the outages would not materially impact the business. Keyera closed the Brazeau River, Pembina North, Zeta Creek, Cynthia, Nordegg and Wapiti gas plants as it responds to wildfires across…

From the Midwest to the Pacific Coast, investor-owned utilities Black Hills Corp. and NW Natural have shored up renewable natural gas (RNG) and investments in the biofuel over the first three months of the year. Days before hosting the first quarter conference call, NW Natural Holdings Co. CEO David Anderson said the company opened its…