Earnings

Suncor Forecasts Lingering Rise in Commodity Prices, Pushes Back on Activist Investor

Suncor Forecasts Lingering Rise in Commodity Prices, Pushes Back on Activist Investor

While reporting a strong first three months to the year, Suncor Energy Inc. management made a vow to keep its refineries and service stations despite a request by an activist investor to sell the national network. “We think we have the best downstream business in North America, and we think it’s important that it stays…

May 17, 2022
Magnolia Reaping ‘Early Stages’ of Growth from Austin Chalk Development

Magnolia Reaping ‘Early Stages’ of Growth from Austin Chalk Development

Magnolia Oil and Gas Corp. may be at the beginning of a year-long surge in production growth after a strong showing in the first three months of the year in the Eagle Ford Shale and Austin Chalk formation. The Houston-based independent previously launched development programs for parts of its South Texas assets, including the Giddings…

May 17, 2022
Vaca Muerta Shale Driving Natural Gas Production Surge for Argentina’s YPF

Vaca Muerta Shale Driving Natural Gas Production Surge for Argentina’s YPF

U.S. onshore producers may be limiting annual production growth to 5% or less, but don’t tell that to Argentina’s 51% state-owned YPF SA. The Vaca Muerta shale play in the Neuquén Basin drove a 16% year/year increase in oil and gas output to 506,000 boe/d during the first quarter for the integrated producer. On a…

May 16, 2022
PDC Eyeing Double-Digit Oil, Natural Gas Output Growth

PDC Eyeing Double-Digit Oil, Natural Gas Output Growth

Denver-based PDC Energy Inc. earlier this month closed on its $1.3 billion acquisition of crosstown independent Great Western Petroleum LLC and is forecasting production growth of as much as 23% by the end of June “We’re ready to start this integration,” CEO Bart Brookman told analysts during the earnings call for the first quarter. PDC…

May 16, 2022
Archaea Builds RNG Development List, Looking for More Long-Term Contracts

Archaea Builds RNG Development List, Looking for More Long-Term Contracts

Archaea Energy Inc. spent the first three months of the year adding renewable natural gas (RNG) assets and projects to boost its production nine-fold within the next six to eight years. The Houston-based RNG producer, which is majority owned by Rice Investment Group, is still relatively fresh from its merger with Aria Energy LLC last…

May 16, 2022
Ovintiv Pursuing Natural Gas Price ‘Diversification,’ Citing Strong Market Fundamentals

Ovintiv Pursuing Natural Gas Price ‘Diversification,’ Citing Strong Market Fundamentals

Ovintiv Inc. is exploring options to increase the exposure of its multi-basin upstream portfolio to a dynamic global natural gas market, CEO Brendan McCracken said.  The Denver-based independent works in numerous onshore plays throughout North America, including in the Montney Shale, Anadarko Basin, Permian Basin, Bakken Shale and Uinta Basin. On a call to discuss…

May 16, 2022
Oxy Prepared for Volatile Year, but Some Oil, Gas Producers Not So Lucky, Says Hollub

Oxy Prepared for Volatile Year, but Some Oil, Gas Producers Not So Lucky, Says Hollub

U.S. oil and gas producers that weren’t prepared to get down to business as prices rose may be out of luck, Occidental Petroleum Corp. CEO Vicki Hollub said Wednesday. Hollub helmed a first quarter conference call, joined by CFO Robert Peterson and Richard Jackson, president of U.S. Onshore Resources and Carbon Management. They shared with…

May 13, 2022
Portland’s NW Natural Advances Renewable Natural Gas Business

Portland’s NW Natural Advances Renewable Natural Gas Business

Portland, OR-based natural gas utility NW Natural continues to build its renewable natural gas (RNG) portfolio as it moves to carbon neutrality by 2050. In January, the company started operations at an RNG facility in Lexington, Nebraska in conjunction with Tyson Foods Inc. and BioCarbN. Construction on a second facility has begun with commissioning slated…

May 12, 2022
Coterra Energy Searching for Opportunities in ‘Crowded LNG Market’

Coterra Energy Searching for Opportunities in ‘Crowded LNG Market’

Coterra Energy Inc.’s CEO Thomas Jorden called for the government and investors to provide the proper signals in response to an energy crisis “unlike anything the world has seen in almost 50 years.” In order for the U.S exploration and production (E&P) sector to “respond with increased U.S. supply, we need well-thought-out regulation and policies…

May 12, 2022
U.S. Midstreamers Using Expansions as ‘Quick Market Solutions’ for Rising Production

U.S. Midstreamers Using Expansions as ‘Quick Market Solutions’ for Rising Production

U.S. midstream operators are focusing on incremental additions to their natural gas infrastructure in the Haynesville Shale, Permian and Appalachia basins as quicker and lower-risk solutions to rising production growth. DCP Midstream LP is in “advanced discussions” with its partners on the Gulf Coast Express Pipeline (GCX) to bring “quick and efficient” capacity to the…

May 12, 2022