Earnings

U.S. pipeline giant Energy Transfer LP intends to secure deals for up to 14 million metric tons/year  (mmty) of LNG exports prior to making a final investment decision (FID) on its planned terminal in Lake Charles, LA, executives said during the second quarter earnings call. Dallas-based Energy Transfer still expects the Lake Charles project to…

Pioneer Natural Resources Co. CEO Scott Sheffield said Wednesday he is optimistic “that the oil price is going to continue to march forward, with probably more upside than downside.” The always-candid executive hosted a conference call to discuss second quarter earnings for Irving, TX-based Pioneer, the largest producer in the Permian Basin.  “Demand’s coming back…

Haynesville Shale-focused Comstock Resources Inc. is combating high diesel costs in its completions with natural gas-fueled hydraulic fracturing fleets, management said Tuesday. In April, the Frisco,TX-based independent deployed its first BJ Energy Solutions Titan gas-powered fracturing fleet. The deployment subsequently cut completion costs 15% versus a conventional diesel-fueled fleet on the first two well pads,…

Houston-based CenterPoint Energy Inc.’s natural gas and electric utility is “on track to meet our current capital investment plan for the year, having invested over $2 billion in the first six months of 2022,” said CEO Dave Lesar.  During the second quarter conference call, the CEO said CenterPoint has increased its $19.3 billion, five-year capital…

Chesapeake Energy Corp. will exit the Eagle Ford Shale in a shift away from oil in favor of its natural gas assets in Louisiana and Pennsylvania as it looks to simplify its operations, management said Wednesday.  The company plans to drop from five to six rigs in the Eagle Ford by the end of August…

Enterprise Products Partners LP said Wednesday it would ramp up its infrastructure in the prolific Permian Basin to increase capacity and meet expectations of long-term demand for natural gas and other fossil fuels. The Houston-based company, alongside strong second quarter 2022 earnings, announced several new growth projects management said are necessary to keep pace with…

Italy’s Eni SpA expects to beat previous guidance on new exploration volumes and continue its pace of securing new natural gas sources for European markets as it seeks to reverse the hit its LNG and European gas marketing businesses took in the second quarter. The Rome-based supermajor, majority-owned by the Italian government, has been focusing…

Montney Shale producer Arc Resources Ltd. sees inflation and continued supply chain snarls ballooning its costs for the rest of the year, leading it to raise its capital budget by 16.6%. Calgary-based Arc is now forecasting capital spending of $1.35-$1.45 billion, up from an initial plan of $1.15-$1.25 billion. Management said the upward revision primarily…

By starting up a new natural gas power plant during the second quarter, DTE Energy was able to retire two coal-fired power plants in its Southeast Michigan service area, management said last week. “We continue our journey of transitioning to a clean energy future, highlighted by putting our new natural gas plant in service, on…