Earnings

Citing weaker natural gas prices amid robust production, National Fuel Gas Co. said it revised lower its earnings outlook for 2023. The Williamsville, NY-based company now projects earnings per share of $5.35-$5.75, a decrease of $1.10 per share from the midpoint of its prior guidance range. CEO David Bauer said in the company’s fiscal first…

Rig technology expert Helmerich & Payne Inc. (H&P) is not expecting over-the-top activity by its exploration customers this year, with steady and moderate activity more likely, CEO John Lindsay said this week. Lindsay on Tuesday discussed the fiscal first quarter performance for the Tulsa-based oilfield services company. Last November, Lindsay predicted moderate growth this year…

Despite softening natural gas and oil prices at the end of last year, ConocoPhillips expects stronger prices through 2023, sustaining multi-billion dollar investments planned for major LNG projects. In a fourth-quarter earnings call hosted Thursday, CEO Ryan Lance said the Houston independent planned to remain focused on capital returns this year. However, the company’s expectations…

Natural gas trading delivered blow-out results for Shell plc in the final quarter of 2022, fueled by stronger LNG sales. CEO Wael Sawan, helming his first conference call since taking over, joined CFO Sinead Gorman on Thursday from London, as they dissected fourth quarter and 2022 results. Sawan formerly led the Integrated Gas unit. He…

Enterprise Product Partners LP has $3.6 billion of assets scheduled to begin commercial operations this year to expand natural gas, liquids and crude oil systems across the United States, with almost $2 billion more rolling off the boards through 2025, executives said Wednesday. Co-CEOs Jim Teague and Randy Fowler shared a microphone with the executive…

MPLX LP is bumping up its capital spending by $50 million in 2023 to work toward debottlenecking pipeline constraints and expanding gathering and processing (G&P) capacity in the Permian Basin, as well as the Bakken and Marcellus shales. MPLX has set aside $800 million of growth capital for the year, with another $150 million earmarked…

The legacy Permian Basin operations guided Chevron Corp. to record U.S. production in 2022, with natural gas and oil output from the play rising 16%. CEO Mike Wirth led a conference call last week with the executive team to discuss fourth quarter and full-year performance.  “We delivered record earnings and cash flow in 2022, while…

ExxonMobil leaned in when some competitors leaned out, and the supermajor has used the advantage to capture the upside, CEO Darren Woods said Tuesday. Woods and his executive team shared 4Q2022 and full-year results during a wide-ranging conference call.  “Our results clearly benefited from a favorable market,” Woods told investors. “But to take full advantage…

The legacy Permian Basin operations guided Chevron Corp. to record U.S. production in 2022, with natural gas and oil output from the play rising 16%, the supermajor said Friday. CEO Mike Wirth led a conference call with the executive team to discuss fourth quarter and full-year performance.  “We delivered record earnings and cash flow in…