Earnings

ExxonMobil’s gambit to increase capital spending to backfill the global natural gas and oil portfolio ran smack dab into bruising commodity prices during the final three months of 2019, but the company is playing the long game, with less focus on short-term commodity cycles, CEO Darren Woods said Friday.

Kinder Morgan Inc. (KMI) has placed the Gulf LNG (liquefied natural gas) export project on the backburner in favor of other growth opportunities, CEO Steve Kean indicated Wednesday during the firm’s analyst day.

Enterprise Products Partners LP capped the last decade with another quarter of operational records in each of its business segments as well as a new high in income for 2019.

Record production from the Permian Basin and a bevy of oil and natural gas projects worldwide was not enough to stanch the decline in commodity prices during the final quarter, as Chevron Corp. recorded a $10.4 billion impairment for assets that included the Appalachia portfolio, a natural gas export facility planned for British Columbia and a deepwater Gulf of Mexico project.

ExxonMobil’s gambit to increase capital spending to backfill the global natural gas and oil portfolio ran smack dab into bruising commodity prices during the final three months of 2019, but the company is playing the long game, with less focus on short-term commodity cycles, CEO Darren Woods said Friday.

Seneca Resources Co. LLC plans to again slash spending in response to free falling natural gas prices and lean on an inventory of drilled but uncompleted (DUC) wells in Appalachia to keep production flat in fiscal year (FY) 2021.

Kinder Morgan Inc. (KMI) has placed the Gulf LNG (liquefied natural gas) export project on the backburner in favor of other growth opportunities, CEO Steve Kean indicated Wednesday during the firm’s analyst day.

Record production from the Permian Basin and a bevy of oil and natural gas projects worldwide was not enough to stanch the decline in commodity prices during the final quarter, as Chevron Corp. recorded a $10.4 billion impairment for assets that included the Appalachia portfolio, a natural gas export facility planned for British Columbia and a deepwater Gulf of Mexico project.

Seneca Resources Co. LLC plans to again slash spending in response to free falling natural gas prices and lean on an inventory of drilled but uncompleted (DUC) wells in Appalachia to keep production flat in fiscal year (FY) 2021.