Earnings

Sempra Records Liabilities for Aliso Natural Gas Storage

Sempra Records Liabilities for Aliso Natural Gas Storage

Sempra Energy has revealed a one-time $72 million charge for litigation related to the 2015-16 methane leak at the Southern California Gas Co. (SoCalGas) Aliso Canyon Storage Field.

May 11, 2020
Continental Curtails 70% of Oil Production on Supply Glut, Coronavirus

Continental Curtails 70% of Oil Production on Supply Glut, Coronavirus

Continental Resources Inc., the biggest operator in the Bakken Shale, said it dramatically cut oil production and intends to reduce its rig count after posting a steep first quarter loss amid the cratering in oil prices.

May 11, 2020
Goodrich CEO Strikes Upbeat Tone on Natural Gas Price Outlook

Goodrich CEO Strikes Upbeat Tone on Natural Gas Price Outlook

Goodrich Petroleum Corp. tapered production in the first quarter and further lowered its capital expenditures (capex) for 2020 in response to low natural gas prices spurred by a mild winter and amplified by the coronavirus pandemic that took hold in March.

May 11, 2020
Ovintiv Keeping Eye on Natural Gas Prices as Shut-ins Reduce Output by 65,000 Boe/d

Ovintiv Keeping Eye on Natural Gas Prices as Shut-ins Reduce Output by 65,000 Boe/d

Denver-based Ovintiv Inc., whose broad oil and natural gas portfolio runs across the Permian and Anadarko basins and the Montney formation in Canada, is shelving some onshore work in the Eagle Ford, Bakken, Uinta and Duvernay formations, but it’s keeping a sharp eye on the direction of natural gas prices to determine when to boost activity.

May 11, 2020
New Fortress Energy Working Through LNG Surplus, But Eyeing Cheaper Supplies for Growth

New Fortress Energy Working Through LNG Surplus, But Eyeing Cheaper Supplies for Growth

New York City-based New Fortress Energy LLC (NFE) has more liquefied natural gas (LNG) supply than it needs for customers in the Carribean as the Covid-19 pandemic has cut into economic activity and use of the fuel for power generation across the region.

May 8, 2020
Comstock Hedging Props Up Haynesville Natural Gas Prices; CEO Sees ‘Healthier’ Supply Outlook

Comstock Hedging Props Up Haynesville Natural Gas Prices; CEO Sees ‘Healthier’ Supply Outlook

Comstock Resources Inc., which works in the Haynesville and Bakken shales, grew natural gas sales year/year and, thanks to hedging gains, better-than-average gas prices.

May 8, 2020
Noble Energy Expects Rising Summer Natural Gas Demand in Eastern Med, but Shut-ins, DUCs in Lower 48

Noble Energy Expects Rising Summer Natural Gas Demand in Eastern Med, but Shut-ins, DUCs in Lower 48

Super independent Noble Energy Inc., whose vast U.S. portfolio extends across Texas and Colorado, plans to move cautiously through the year in the Lower 48 by shutting in wells and clawing back activity, while it works to build natural gas infrastructure overseas.

May 8, 2020
Apache Switches Most Capital from Permian to International Operations

Apache Switches Most Capital from Permian to International Operations

Apache Corp. has eliminated all of its Permian-centered U.S. drilling and completions work and reduced activity overseas to ensure strong liquidity and wait out the dire impacts to demand from Covid-19.

May 7, 2020
Permian Pure-Plays Pioneer, Laredo Upend Capex, Activity to Battle Covid-19

Permian Pure-Plays Pioneer, Laredo Upend Capex, Activity to Battle Covid-19

Permian Basin independents Laredo Petroleum Co. and Pioneer Natural Resources Co. are joining their peers in adjusting to the new “normal” by reducing spending and activity to deal with the crushing reversal in energy demand wrought by Covid-19.

May 7, 2020
Marathon Oil Pauses Lower 48 Completions, Cuts 16% of U.S. Workforce, 70% of Contractors

Marathon Oil Pauses Lower 48 Completions, Cuts 16% of U.S. Workforce, 70% of Contractors

Houston-based Marathon Oil Corp., which works in the Bakken Shale, Oklahoma and the Permian Basin, has paused all completion activities and is shutting in some production as it joins the legions of operators at war with low demand and prices.

May 7, 2020
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