Earnings

Western Canada independent Paramount Resources Ltd. has curtailed some of its natural gas production in Western Canada amid the low price environment. The independent, whose development is focused in the Montney Shale region, has shut in dry gas production and reduced its forecast 2024 average sales volumes by about 2,250 boe/d. The “company continues to…

Mexico’s state power company Comisión Federal de Electricidad (CFE) credited lower natural gas prices as contributing to the company’s best full-year profits in a decade last year. CFE is the country’s largest power generator and distributor, the primary importer and marketer of natural gas, and monopoly owner of the electricity transmission grid.  The company reported…

Canadian independent Crescent Point Energy Corp. is moving its natural gas exposure away from the AECO price point. The company has reduced its AECO exposure to about 20% of production, management said in its fourth quarter earnings call.  AECO often trades at a discount to more lucrative markets such as the U.S. Midwest and Gulf…

Oklahoma City-based Gulfport Energy Corp., 92% weighted to natural gas, plans to remain nimble this year to ensure it may “defer or accelerate” activity depending on the direction of prices. Speaking to analysts during the recent fourth quarter conference call, CEO John Reinhart said the “volatile natural gas environment reinforces the importance of developing our…

SilverBow Resources Inc. management said the Eagle Ford Shale operator is pulling back natural gas activity and investments by almost 15% in response to weak prices, but plans to ramp up activity around 2025 for Gulf Coast demand.  “No doubt that 2023 and now 2024 have seen a challenging natural gas market,” said CEO Sean…

Calgary-based Canadian Natural Resources Ltd. achieved record natural gas production during 2023, up 3% year/year and 5% higher during the final three months of the year.  Besides breaking gas production records, with an average 2.23 MMcf/d in 4Q2023 and 2.15 Bcf/d for the year, the explorer also topped previous oil output records. During a conference…

Calgary-based Pembina Pipeline Corp. has secured an agreement to supply natural gas liquids (NGL) for Dow Chemical Co. and is advancing LNG pipeline expansion projects that could provide multiple opportunities and more growth following a strong year. In support of Dow’s Fort Saskatchewan Path2Zero expansion project in Canada, Pembina entered into long-term agreements to supply…

Though it is a major producer of U.S. natural gas, oil economics will dictate investment decisions for Devon Energy Corp. for the foreseeable future, management indicated Wednesday. Oklahoma City-based Devon is the 16th largest producer of natural gas among U.S. publicly traded firms, according to NGI’s most recent calculations. It operates primarily in the Permian…

New Fortress Energy Inc. (NFE) anticipates its offshore Altamira Floating LNG unit could become the first operating Mexican export facility in the coming weeks. After delays that stretched the commissioning process, CEO Wes Edens told analysts during a fourth quarter call that the first volumes of liquefied natural gas were expected to be produced in…