Mexico faces an election in June amid rising natural gas demand and infrastructure needs. See what NGI analysts gleaned from the recently completed 4Q2023 earnings season. SLB Corp. (SLB): CEO Olivier Le Peuch told investors on SLB’s 4Q2023 earnings conference call that “in the international markets, we expect full year revenue growth reaching the mid-teens…
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Articles from Earnings
Permian Natural Gas Compression Demand Climbing, Says Kodiak CEO
Kodiak Gas Services Inc.’s customers in the Permian Basin are clamoring for more natural gas compression as they prepare for the next wave of LNG exports, according to CEO Mickey McKee. The CEO recently discussed the uptick in demand by exploration and production (E&P) customers in announcing the latest quarterly results. The company, headquartered in…
Tourmaline Cutting WCSB ‘24 Natural Gas Production Amid Low Prices, Remains ‘Super Constructive’ on ‘25
Tourmaline Oil Corp., the largest natural gas producer in Canada, is reducing 2024 natural gas production in the Western Canadian Sedimentary Basin (WCSB) by about 100 MMcf/d from previous guidance, or 4% essentially eliminating any gas growth in 2024, “and we definitely think that’s the right thing to do,” CEO Mike Rose said. Tourmaline is…
Calgary’s Ensign Forecasting ‘Relatively Stable’ Activity as E&Ps Build DUCs, Prepare for LNG Takeaway
Geopolitical tensions are impacting global oil and natural gas prices, but the outlook for oilfield services “continues to be constructive,” as operators prepare for infrastructure and LNG projects to begin commercial operations, according to Ensign Energy Services Inc. The executive team of the Calgary-based operator, which works across North America and in overseas markets, discussed…
Saudi Aramco Boosting Domestic Natural Gas Output and Eyeing International LNG Investments
State-owned Saudi Arabian Oil Co., better known as Aramco, is targeting a 60% increase by 2030 in its natural gas production from 2021 levels as domestic consumption rises in the Kingdom. Speaking to investors during a conference call on Monday, CEO Amin Nasser and CFO Ziad Al-Murshed discussed an array of projects underway to boost…
Argentina’s YPF Aiming to Become ‘Global LNG Player,’ Says New CEO
Argentina’s 51% state-owned oil and gas company YPF SA is aiming to sanction a large-scale LNG export project by mid-2025, with the first 1-2 million metric tons/year (mmty) of liquefaction capacity online by 2027, the firm’s new management said. “Our goal is to become a global LNG player through the massive monetization of our shale…
Alberta’s Peyto ‘Still Making Money’ Despite Low Natural Gas Prices; No Curtailments Planned
Alberta natural gas producer Peyto Exploration & Development Corp. has no plans to curtail production like some of its North American peers, despite current weak pricing at the Henry Hub and AECO locations. Peyto would only shut in wells if AECO prices were to go negative, CEO Jean-Paul Lachance told analysts during the firm’s fourth…
Vermilion Expanding Montney Infrastructure, Boosting European Natural Gas Activity
Calgary-based Vermilion Energy Inc., whose North American exploration expertise extends overseas, said it is advancing key growth projects to add more “premium-priced” European natural gas to the portfolio, while divesting higher cost assets in Canada. “With this high-graded asset base, we were able to deliver on the midpoint of our annual production guidance of 84,000…
Alberta Royalty Owner Topaz Forecasting Slower Natural Gas Production Growth as AECO Prices Slump
Calgary-based Topaz Energy Corp. is targeting slightly higher natural gas-weighted royalty production in 2024 after posting double-digit growth in 2023. The energy investment company does not operate, control or develop oil and gas assets. Rather, its royalty portfolio includes 60%-plus of undeveloped acreage, which attracts operator development with no capital. The revenue stream is primarily…
Paramount Resources Shuttering Some Montney Dry Natural Gas, Reducing ‘24 Forecast
Western Canada independent Paramount Resources Ltd. has curtailed some of its natural gas production in Western Canada amid the low price environment. The independent, whose development is focused in the Montney Shale region, has shut in dry gas production and reduced its forecast 2024 average sales volumes by about 2,250 boe/d. The “company continues to…