Earnings

Shell plc took the topsy-turvy turmoil during the third quarter and turned in a solid performance for the world’s top LNG trader, CEO Wael Sawan said Thursday. The company’s chief shared insight about the overall quarterly performance during a conference call in London with CFO Sinead Gorman. Overall gas and oil production volumes declined from…

MPLX LP management said development costs in the Permian Basin and Marcellus Shale remain conducive for drilling activity, and the long-term production outlook for its producer customers provides the midstream company with a steady source of growth opportunities. MPLX is progressing on its 2023 capital spending programs, which include allocations of $800 million for growth…

Chesapeake Energy Corp. has turned to another global commodity trader to help expose more of its U.S. natural gas production to international markets, inking a tentative deal with Vitol Inc. to sell up to 1 million metric tons/year (mmty) of LNG. The heads of agreement (HOA) follows one that Chesapeake signed earlier this year with…

The management team of Antero Resources Corp. expects a slew of demand and supply side factors to align in a bullish pattern for U.S. natural gas prices over the next year. CEO Paul Rady outlined his reasoning upon announcing third quarter earnings for the Appalachian Basin pure-play. “On the macro front, we see natural gas…

Comstock Resources Inc. has forged a midstream partnership to boost outflow from its western Haynesville Shale assets as it looks past the current slump of natural gas prices into a future of surging Gulf Coast LNG demand. The Frisco, TX-based independent disclosed it is contributing its Pinnacle gathering system and 145-mile associated pipeline, as well…

Enterprise Products Partners LP said Tuesday it would spend $3.1 billion on four new projects in the Permian Basin to increase midstream capacity and meet growing demand for natural gas and other fossil fuels. The new projects include two natural gas processing plants in the Delaware and Midland sub-basins, a 550-mile Bahia natural gas liquids…

Natural gas development in Western Canada’s Montney and Duvernay formations is set to increase by double-digits in 2024 for Calgary’s Whitecap Resources Inc., as LNG opportunities begin to emerge. The independent, which reports in Canadian dollars (C$1.00/US75 cents), has set a preliminary 2024 capital expenditure (capex) budget that is 26% higher year/year. The high end…

Equitrans Midstream Corp. management remains upbeat about the long-term fundamentals underpinning the Mountain Valley Pipeline (MVP) despite recently postponing the project’s expected in-service date and upwardly revising its projected cost.  Canonsburg, PA-based Equitrans has moved the targeted start-up date for the embattled 2 Bcf/d natural gas conduit to early 2024 from late 2023, and the…

BP plc’s long-term vision remains focused on transitioning to net-zero emissions, but the value of the natural gas and oil portfolio is key for near-term success, interim chief Murray Auchincloss said Tuesday. Auchincloss, formerly the longtime CFO, took the reins in September following the resignation of Bernard Looney. During a conference call to discuss third…