Earnings

Coterra Energy Inc. is “throttling back on operations” in the Marcellus Shale to start 2024, but management is “highly optimistic on the 12- to 18-month outlook” for natural gas as LNG facilities come online, CEO Tom Jorden said.  The Houston-based independent plans to decrease capital expenditures (capex) in 2024 by 12% year/year to $1.75-1.95 billion…

The Permian Basin remains its largest growth market, but with natural gas supply and demand dynamics shifting, Louisiana will surpass Oklahoma to become EnLink Midstream LLC’s second largest segment this year, according to management.  “In 2019, Oklahoma and North Texas represented over 60% of our segment profit mix,” CFO Ben Lamb said. Today, “the Permian…

DT Midstream Inc. (DTM) has boosted the top end capacity estimate for its Louisiana Energy Access Project, or LEAP, to 4 Bcf/d, roughly double the amount of natural gas it could be transporting by 2026. Based on the work to expand LEAP, “it’s become clear to us that we actually can expand this beyond 3…

Dallas-based independent Matador Resources Co., which works in the Permian Basin, Haynesville and Eagle Ford shales, reported record natural gas production for 2023, and it is not planning to reduce output this year, even with low prices. The independent “exceeded production expectations” for gas and oil. Output increased 38% year/year during 4Q2023, driven by the…

Cheniere Energy Inc. CEO Jack Fusco said Thursday the Biden administration’s decision to pause new LNG export authorizations has not slowed down the company’s expansion projects, which management expects to stay on track despite an ambiguous regulatory environment. “It does introduce regulatory and permitting uncertainty to the U.S. liquefied natural gas industry as a whole,”…

Chord Energy Corp. has agreed to acquire fellow Williston Basin producer Enerplus Corp. in a stock and cash transaction that would create a company with a combined enterprise value of about $11 billion. The purchase price equates to almost $4 billion, based on closing share prices Wednesday when the deal was announced, noted Enverus Intelligence…

Weak pricing for associated natural gas in the oil-rich Permian Basin is not a needle mover by itself in determining the pace of activity for Diamondback Energy Inc., CFO Kaes Van’t Hof said Wednesday. “We could run the gas price to zero in the Permian and still make great returns on oil wells,” Van’t Hof…

Recent construction setbacks will see Mountain Valley Pipeline LLC’s (MVP) long-delayed completion slip further, now into the second quarter. Still, the finish line is in sight for backer Equitrans Midstream Corp. (ETRN), and the company is also eyeing longer-term growth facilitated by the eventual start-up of the embattled Appalachia-to-Southeast natural gas conduit. Last summer, Congress…

Chesapeake Energy Corp. said Wednesday it would significantly slash spending and natural gas production this year in one of the biggest activity cuts announced yet for U.S. onshore operations in response to tanking prices.  The company, one of the largest natural gas producers in the Lower 48, plans to reduce capital expenditures (capex) in 2024…