Earnings

Languishing U.S. natural gas prices have led SLB Ltd. to revise the North American outlook for 2023, CEO Olivier Le Peuch said Friday. The No. 1 oilfield services company is “primed” for growth and margin expansion this year, but the gains are likely to be led by a “very solid international outlook,” Le Peuch said…

Overall natural gas demand slipped in the first quarter and prices dropped, but Kinder Morgan Inc. (KMI) said its natural gas pipeline business forged ahead and fueled earnings amid a shortage of new infrastructure that maximized the value of its existing network. “The world needs reliable and affordable energy to advance human development, and it…

This year has begun with some “macro volatility,” but Baker Hughes Co.’s executive team remains optimistic about the outlook for energy services, particularly for natural gas. The Houston-based oilfield services (OFS) giant kicked off the quarterly earnings season for the energy sector on Wednesday. CEO Lorenzo Simonelli led a conference call with analysts to share…

Opal Fuels Inc., a producer and distributor of renewable natural gas (RNG), saw revenue from RNG sales skyrocket in 2022, jumping more than 40% over 2021 figures, management noted during the company’s fourth quarter and full year earnings call.  The White Plains, NY-based company pushed RNG fuel production up to 2.2 million MMBtu in 2022,…

Saudi Arabia’s state-owned oil producer posted record profits for 2022, up nearly 50% year/year, lifted by soaring oil and natural gas prices. Saudi Arabian Oil Co., better known as Aramco, tripled the 2022 profit recorded by ExxonMobil, lifted by higher sales volumes and improved margins for refined products. Commodity prices surged early in the year…

The forecast cost of the Trans Mountain Pipeline expansion (TMX) has climbed to C$30.9 billion ($23.2 billion) and could jump again by construction completion, according to a project update by the Canadian government-owned company. “As with all projects of this size, risks to the final costs and schedule will remain as work is completed through…

Privately-held Ascent Resources Utica Holdings LLC, Ohio’s largest natural gas producer, is joining its publicly-traded peers in keeping production and activity flat this year as the commodity outlook has softened. Ascent, also one of the nation’s largest private natural gas producers, is guiding for 2-2.1 Bcfe/d of production in 2023, in line with the 2.1…

Alberta Deep Basin pure-play Peyto Exploration & Development Corp. has all but eliminated its exposure to expected weak pricing at the AECO natural gas hub for the upcoming summer, CEO Jean-Paul Lachance said. Lachance hosted a conference call on Thursday (March 9) to discuss the gas-weighted producer’s fourth quarter and full-year 2022 results.  Lachance noted…

SilverBow Resources Inc. is shifting its near-term focus from natural gas to oil-directed drilling amid a stronger pricing outlook for the latter, according to CEO Sean Woolverton. Woolverton hosted a conference call to discuss fourth-quarter and full-year 2022 earnings for Houston-based SilverBow, which operates exclusively in the Eagle Ford Shale and Austin Chalk formations of…