Earnings

Permian Basin pure-play Laredo Petroleum Inc. reported disappointing initial results for a package of wells that went online late in the second quarter, but management expressed a more encouraging outlook for nearby wells. “In the second quarter, we completed 11 wells and drilled seven wells,” COO Karen Chandler told analysts during the recent earnings call.…

Increased prices for liquids-rich oil and natural gas production from Alberta and British Columbia, along with four corporate takeovers, fueled a solid second quarter for Calgary’s Spartan Delta Corp. The independent put together a bundle of energy-rich properties from dealmaking in Western Canada that enriched the bottom line during 2Q2022.  Spartan, which reports in Canadian…

Houston-based Talos Energy Inc., a major explorer in the Gulf of Mexico (GOM), expects to garner “several favorable provisions” from the Democrats’ Inflation Reduction Act (IRA), which would benefit the upstream business and the low-carbon ventures underway, CEO Timothy S. Duncan said. The independent issued its 2Q2022 results earlier this month, followed by a conference…

Management at Magnolia Oil and Gas Corp. said sticking to the South Texas-focused independent’s game plan resulted in an exceptional second quarter. CEO Steve Chazen said Magnolia, in its fourth year as a publicly held exploration and production (E&P) company, operates on a tried-and-true business model. “We have consistently executed our strategy, which prioritizes disciplined…

Demand for LNG imports to Brazil via the Bahia regasification terminal grew in the second quarter despite surging global natural gas prices, according to the terminal’s operator, Excelerate Energy Corp. CEO Steven Kobos hosted a conference call Thursday to discuss Excelerate’s second-quarter results. The 700 MMcf/d capacity terminal in the city of Salvador began operations…

Calgary-based Imperial Oil Ltd. plans to use proceeds from high oil prices it realized during 2Q2022 to return more cash to shareholders and reduce greenhouse gas (GHG) emissions; goals echoed by its Canadian peers. The management teams of Canadian Natural Resources Ltd. (CNRL), Cenovus Energy Inc., Imperial and Suncor Energy Inc. each held recent conference…

Stabilis Solutions Inc. reported a sizable boost in delivered LNG volumes during the second quarter and strong revenue thanks to sky-high commodity prices, but management said there was still work ahead to push back on inflationary impacts and improve earnings. Houston-based Stabilis delivered increased volumes from its two liquefied natural gas facilities during the period,…

New Fortress Energy Inc. (NFE) is looking to develop up to four fast LNG (FLNG) projects offshore Mexico’s Gulf Coast amid the global natural gas supply crunch, management said during an earnings call last week. This is in addition to the company’s first FLNG project currently under development offshore Louisiana. At the port of Altamira,…

Despite inflationary pressures, Denver-based Civitas Resources Inc. and PDC Energy Inc. expect continued strong oil and natural gas production levels through 2022 as each capitalizes on acquisitions and strong demand. Civitas Resources Inc., the largest producer in the Denver-Julesburg (DJ) Basin, on average produced 175,223 boe/d — 46% oil, 30% natural gas and 24% natural…