Earnings

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…

TC Energy Corp. management said it could exceed its goal of more than $2 billion in asset sales in 2024 to focus on natural gas and related segments. “For 2024, there should be no surprise that our strategic priorities will look very similar to 2023,” CEO François Poirier said on a conference call to discuss…

Undeterred by depressed commodity prices, management is betting on Targa Resources Corp.’s given track record of outperforming in the Permian basin, installing more than 400 MMcf/d of compression in the first half of 2024, expected to drive increasing volumes through its downstream assets.  Management of Houston-based Targa is anticipating high single-digit natural gas volume growth…

Contract driller Patterson-UTI Energy Inc. has no plans to add drilling or completion capacity in the Lower 48, as activity is forecast to remain flat through the year, but opportunities exist to enhance and expand the natural gas-powered fleets, CEO Andy Hendricks said. Speaking to analysts during the recent quarterly conference call, Hendricks said the…

U.S. utilities are reporting growth in residential demand, as well as commercial and industrial (C&I) consumption, underpinning investments in more natural gas-fired generation and system reliability.  Atmos Energy Inc. CEO John Akers during a call to discuss the fiscal first quarter earnings  highlighted capital expenditures (capex) for modernizing its natural gas distribution system to serve…

Energy Transfer LP has sold about 25% of capacity for its proposed 1.5-2.0 Bcf/d Warrior Pipeline, which it expects the market will need to meet natural gas transportation needs along the Gulf Coast within the next few years, executives said. During a fourth quarter earnings call, Co-CEO Marshall McCrea said the Dallas-based midstream giant had…

Calgary-based Arc Resources Ltd. plans to expand its Montney Shale natural gas production this year as it builds reserves for selling up to 25% of future output to global markets to capture the LNG export premium. To execute its strategy, total production in 2024 is forecast to average 350,000-360,000 boe/d, 63% weighted to natural gas.…