Earnings

Chevron CEO Says European Natural Gas Outlook ‘Less Dire,’ Markets Calmer

Chevron CEO Says European Natural Gas Outlook ‘Less Dire,’ Markets Calmer

The legacy Permian Basin operations guided Chevron Corp. to record U.S. production in 2022, with natural gas and oil output from the play rising 16%, the supermajor said Friday. CEO Mike Wirth led a conference call with the executive team to discuss fourth quarter and full-year performance.  “We delivered record earnings and cash flow in…

January 27, 2023
Halliburton Forecasting North American E&P Spending to Rise 15%-Plus from 2022

Halliburton Forecasting North American E&P Spending to Rise 15%-Plus from 2022

North America natural gas and oil customers are likely to increase their overall capital spending by at least 15% year/year, with well completions equipment already fully contracted, Halliburton Co. CEO Jeff Miller said Tuesday. Well completions fetched higher prices, while exploration and production (E&P) customers clamored for more products, signaling a solid business environment ahead…

January 27, 2023
Natural Gas Price Volatility ‘Simply Noise’ for Heavily Hedged CNX, Says CEO

Natural Gas Price Volatility ‘Simply Noise’ for Heavily Hedged CNX, Says CEO

Appalachian Basin pure-play CNX Resources Corp. is aiming to lock in elevated natural gas prices and protect itself from market swings through an aggressive hedging strategy, CEO Nick Deluliis said Thursday. Deluliis hosted a conference call to discuss fourth-quarter and full-year 2022 results for Canonsburg, PA-based CNX.  He said “from a macro perspective, we expect…

January 27, 2023
LNG and Offshore Equipment Demand Sparks Record Orders for Baker Hughes

LNG and Offshore Equipment Demand Sparks Record Orders for Baker Hughes

Baker Hughes Co. generated record orders in the fourth quarter, driven by “multiple awards” for  LNG and offshore production equipment, CEO Lorenzo Simonelli said Monday. In a conference call to discuss quarterly and full-year earnings, the CEO noted that operationally, the Houston-based oilfield services (OFS) giant “continues to navigate challenges” in “different parts of the…

January 26, 2023
Kinder Morgan’s Haynesville Natural Gas Gathering Volumes Jump 44%

Kinder Morgan’s Haynesville Natural Gas Gathering Volumes Jump 44%

Nearly a year after receiving federal approval, Kinder Morgan Inc. has sanctioned the 2 Bcf/d Evangeline Pass pipeline project that would feed Venture Global LNG Inc.’s Plaquemines LNG export facility. In a call with investors to discuss 4Q2022 earnings earlier this month, CEO Steven Kean said Kinder is moving forward with the $678 million Evangeline…

January 25, 2023
Oilfield Services Firms Say Latin America Oil, Natural Gas Activity on the Rise 

Oilfield Services Firms Say Latin America Oil, Natural Gas Activity on the Rise 

Oil and natural gas operators are ramping up activity in Latin America, according to the three biggest names in oilfield services.  The management teams of SLB Ltd., Baker Hughes Co. and Halliburton Co. each reported upticks in revenue and activity in the region for the fourth quarter of 2022 and the year as a whole.…

January 24, 2023
SLB’s 4Q Results ‘Affirmed a Distinctive New Phase’ in North American Upcycle

SLB’s 4Q Results ‘Affirmed a Distinctive New Phase’ in North American Upcycle

An uptick in global offshore development, combined with expansion of natural gas opportunities overseas, bode well for SLB Ltd. to improve activity in 2023, CEO Olivier Le Peuch said last week.  All signs point in a positive direction, Le Peuch said, after the world’s No. 1 oilfield services (OFS) operator closed out a “remarkable year.”…

January 24, 2023
Halliburton Completions Calendar Booked, and Natural Gas, Oil Investments Strong, Says CEO

Halliburton Completions Calendar Booked, and Natural Gas, Oil Investments Strong, Says CEO

North America natural gas and oil customers are likely to increase their overall capital spending by at least 15% year/year, with well completions equipment already fully contracted, Halliburton Co. CEO Jeff Miller said Tuesday. Well completions fetched higher prices and customers clamored for more products, signaling a solid business environment ahead for natural gas and…

January 24, 2023
Hess Eyeing $3.7B E&P Capital Spend in 2023, Focused on Bakken, Guyana

Hess Eyeing $3.7B E&P Capital Spend in 2023, Focused on Bakken, Guyana

Hess Corp. has set a $3.7 billion exploration and production budget for 2023, with more than 80% of funds allocated to its flagship Bakken Shale and Guyana operations. This would be up from the $2.7 billion budget for full-year 2022 that the firm forecasted in October. New York City-based Hess is targeting average net production…

January 24, 2023
‘Good Time’ for Global LNG as Customers Ready to Talk, Says Baker Hughes CEO

‘Good Time’ for Global LNG as Customers Ready to Talk, Says Baker Hughes CEO

Baker Hughes Co. generated record orders in the fourth quarter, driven by “multiple awards” for  LNG and offshore production equipment, CEO Lorenzo Simonelli said Monday. In a conference call to discuss quarterly and full-year earnings, the CEO noted that operationally, the Houston-based oilfield services (OFS) giant “continues to navigate challenges” in “different parts of the…

January 23, 2023
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