Earnings

Crescent Point Energy Corp. built its Montney Shale prospects with a recent purchase, giving it more leverage in Western Canada and helping the independent contend with lower commodity prices and Alberta wildfires during the second quarter. The Alberta-based producer said the province’s widespread wildfires scorched oil and natural gas production in 2Q2023, knocking it down…

TotalEnergies SE is on the hunt for more opportunities for affordable LNG like its recent grabs in the United States as Europe’s energy volatility and rising costs are likely to persist. Despite Europe’s falling oil and natural gas prices during the second quarter, CEO Patrick Pouyanné said “tensions” in the global gas market will mean…

Shell plc, the world’s leading LNG trader, reported mixed results in the second quarter, buffeted by lower natural gas realizations and volumes from a year ago. The Integrated Gas (IG) business, which includes liquefied natural gas trading and optimization, reported a 69% decline in profits year/year. LNG liquefaction volumes were flat at 7.17 million tons…

Matador Resources Co. is upping oil and natural gas production while lowering costs, management said during a second quarter earnings call on Tuesday. The company is on track to produce more than 140,000 boe/d by year’s end, which would result in 40% production growth during 2023. Production in the second quarter was 130,683 boe/d, up…

Hess Corp. has raised its oil and natural gas production forecast to 385,000-390,000 boe/d for this year, from previous guidance of 365,000-375,000 boe/d, management said Wednesday. The New York City-based independent operates in the Bakken Shale, as well as offshore Guyana, the Gulf of Mexico and Southeast Asia. The upward revision is primarily because of…

Houston-based NexTier Oilfield Solutions Inc. has maintained “relatively consistent activity” even as the U.S. rig count declined, with the oilfield services outlook more positive into 2024 as global demand rises, CEO Robert Drummond said Wednesday. With the slump in commodity prices this year, the U.S. land industry has slowed its roll. As of last Friday…

EQT Corp., the nation’s largest natural gas producer, has snagged an agreement to supply the proposed Lake Charles LNG project in Louisiana with 1 million metric tons/year (mmty), or 135 MMcf/d, advancing a strategy to supply overseas markets with Appalachia production. In the heads of agreement (HOA) with sponsor Energy Transfer LP (ET), EQT said…

The main three oilfield services firms see international exploration and production (E&P) companies increasing activity, in particular in the offshore, and despite a slowdown in North America. They all reported growth in their Latin American businesses. SLB Ltd. CEO Olivier Le Peuch said international offshore would drive the upstream industry through this decade. “Second quarter…

Range Resources Corp., whose fortunes are tied to the Marcellus Shale, faced headwinds during the second quarter on weaker natural gas prices, but longer-term fundamentals are stronger as global demand grows, CEO Dennis Degner said Tuesday. The Fort Worth, TX-based Appalachian pure-play, a leading U.S. natural gas producer, expects natural gas and natural gas liquids…