With its direction aimed at expanding the natural gas business, including deliveries to export LNG, Williams is looking to repeat the 2022 performance, when it delivered record results from its onshore and deepwater operations. CEO Alan Armstrong on Tuesday was joined by the executive team to deliver quarterly and year-end results. The results were paired…
Earnings
Articles from Earnings
EQT Ready to Curb Activity if Natural Gas Prices Stay Lower for Longer
EQT Corp. continues to wait for antitrust regulators to clear its $5.2 billion acquisition of Tug Hill Inc.’s upstream and midstream assets in West Virginia, and management now expects to provide more details on the timing of the transaction around the middle of the year. The deal, which would add 800 MMcfe/d of production from…
Antero Able to Generate Profits in Sub-$3 Henry Hub Environment, CEO Says
Antero Resources Corp. is better prepared to withstand a bearish natural gas price cycle than many of its gas-weighted peers, management said Wednesday. CEO Paul Rady hosted a conference call to discuss the Appalachian pure-play’s fourth-quarter and full-year 2022 results. Antero is a leading producer of natural gas and liquids in the Marcellus and Utica…
Keyera Planning Dual NGL Pipe to Move Montney, Duvernay Production to Market
Montney and Duvernay shale producers will gain a new pipeline this spring for liquid byproducts of their production in northern Alberta and British Columbia (BC), project leader Keyera Corp. said in its year-end report. Keyera, which reports in Canadian dollars (C$1.00/US 75 cents), said the estimated $2 billion dual line would carry gasoline-like condensate in…
EQT Braces for Tough Year, Highlights Plan to Curb Activity if Natural Gas Falls Further
EQT Corp. continues to wait for antitrust regulators to clear its $5.2 billion acquisition of Tug Hill Inc.’s upstream and midstream assets in West Virginia, and management now expects to provide more details on the timing of the transaction around the middle of the year. The deal, which would add 800 MMcfe/d of production from…
Lower Natural Gas Prices Lead Comstock to Cut Rigs in Haynesville
As natural gas prices swing lower from 2022 highs, Haynesville Shale-focused Comstock Resources Inc. said it is dropping two of nine operated natural gas drilling rigs. After a strong third quarter bolstered by high natural gas prices, the Frisco, TX-based independent has taken note as “natural gas prices have fallen over 70% since September,” said…
‘No Future Without Natural Gas’ and LNG Investments Still Underway, Says Enbridge CEO
Low natural gas prices are no deterrent in LNG and pipeline infrastructure investments because sponsors always take a long-term view, Enbridge Inc. CEO Greg Ebel said recently. Ebel, who took over in January as CEO and president with Al Monaco’s retirement, discussed the quarterly and year-end results. He also spoke at length about the outlook…
Magnolia Looking at ‘Moderate’ Growth in Eagle Ford, Austin Chalk Assets
Magnolia Oil and Gas Corp. plans to continue operating a two-rig program in South Texas this year and is aiming to boost production by around 10%, executives said in an earnings call. Executives said oilfield service prices were coming down, but there was a lag in the process. CFO Brian Corales said, “frankly, given where…
Devon Focusing Capex on Permian Delaware, Says Natural Gas Takeaway Sufficient
Devon Energy Corp. is planning to focus a majority of its capital on the Permian Basin’s Delaware sub-basin this year, management said Wednesday. Oklahoma City-based Devon, a leading Lower 48 independent, operates primarily in the Permian Delaware, Anadarko, Williston and Powder River basins, along with the Eagle Ford Shale. Devon has set a 2023 capital…
Flex LNG Expects ‘Massive’ Henry Hub Arbitrage to Keep Fueling U.S. LNG Expansions
Despite sliding global LNG prices over the past several months, Flex LNG Ltd. management said heightened European and Asian prices compared to Henry Hub are expected to continue driving U.S. infrastructure investment through the middle of the decade. During an earnings call Tuesday, CEO Oystein Kalleklev said falling liquefied natural gas prices during the fourth…