Earnings

The global energy sector is benefiting today from long-cycle developments, SLB CEO Olivier Le Peuch said Friday, lifted by more carbon capture expansions, offshore exploration and the realization that “natural gas is a critical source for the energy transition.” During a third quarter conference call, Le Peuch offered his insight into results for the world’s…

Denver-based Liberty Energy Inc., the leading completions expert in the Lower 48, is expecting the usual “seasonal softness” during the fourth quarter, punctuated by winter weather and the holidays, but stronger natural gas and oil prices should lift activity into 2024, CEO Chris Wright said Thursday. Speaking with energy analysts about the third quarter performance,…

Kinder Morgan Inc. (KMI) is advancing numerous projects across its vast Lower 48 natural gas pipelines footprint as LNG and Mexico export demand continues to rise, management said Wednesday. The midstream giant kicked off the third quarter earnings season touting robust volumes and demand across its gas network during the period.  “This quarter KMI continued…

ExxonMobil is signaling it will post stronger results during the third quarter because of higher commodity prices, while rival Shell plc also is expecting rebounding profits but lower LNG output because of scheduled maintenance. In Form 8-K filings with the U.S. Securities and Exchange Commission, the integrated majors outlined their projections for the third quarter,…

Citing fallout from the war in Ukraine, Russian natural gas behemoth Gazprom PJSC said its net income for the first half of 2023 plummeted.  The steep drop came after Russia cut off most exports to Europe last year after it invaded Ukraine. The continent has also reduced its reliance on Russian natural gas, turning instead…

North American completions expert Calfrac Well Services Ltd. leveraged its diverse geographical footprint during the second quarter to overcome lost operating days wrought by Canada’s wildfires and manage the “uncontrollable events.”  The move was prescient, allowing the Calgary-based pressure pumper to avoid pitfalls from the numerous wildfires that continue to sweep Canada. Operations are centered…

Australia’s largest oil and natural gas producer Woodside Energy Group Ltd. continues to make progress on the massive Trion development offshore Tamaulipas in northeastern Mexico. The company reached a final investment decision (FID) on the project in June.  “Following FID, Woodside executed a contract with South Korea’s Hyundai Heavy Industries for the construction of the…

Calgary-based Peyto Exploration & Development Corp. is prepared to ramp up development in the fall if natural gas prices strengthen in Western Canada and North America overall, according to CEO J.P. Lachance. Lachance hosted a conference call earlier this month to discuss second quarter results for the gas-weighted producer, which operates in the liquids-rich Alberta…

Some North American renewable natural gas (RNG) operators are expecting a more favorable market for selling environmental credits after federal biofuel volume requirements were updated. Three of the largest domestic RNG operators said in their second quarter results that revamped rules issued in June by the U.S. Environmental Protection Agency (EPA) may help them improve…