Earnings

Cheniere Energy Inc. said Wednesday the amount of liquefied natural gas (LNG) it produced for delivery to Europe surged during the first quarter in a trend management expects to continue as the continent looks to diversify its supplies in a pivot from Russia.  Chief Commercial Officer Anatol Feygin said Cheniere-produced cargoes supplied more of the…

Buoyed by strong commodity prices, Canadian independents Imperial Oil Ltd. and Whitecap Resources Inc. reported robust earnings for the first quarter and are prioritizing returning capital to shareholders. Calgary-based Imperial, 70% owned by ExxonMobil, said its 1Q2022 financials marked the best quarterly results in more than 30 years. Imperial, which reports in Canadian dollars (C$1/US…

Coterra Energy Inc.’s CEO Thomas Jorden called for the government and investors to provide the proper signals in response to an energy crisis “unlike anything the world has seen in almost 50 years.” In order for the U.S exploration and production (E&P) sector to “respond with increased U.S. supply, we need well-thought-out regulation and policies…

Midstream giant Williams is spending about $1.5 billion to grow its natural gas transportation capacity by nearly 2 Bcf/d over the next few years to accommodate growing demand, particularly for exports, according to management. One of the six transmission projects the Tulsa-based midstreamer is developing is a 364 MMcf/d expansion on the Transcontinental Gas Pipe…

Oklahoma City-based Devon Energy Corp. reported steady growth in the first quarter, especially from its Permian Basin assets. However, the company is holding firm to its “value over volume” approach, choosing to maintain its production and capital investment levels. Despite heightened global oil and gas prices because of the Russian invasion of Ukraine and calls…

BP plc’s primary focus for global natural gas markets today is centered on “flow assurance,” to move enough supply to European countries that remain dependent on Russia, top executives said Tuesday.  CEO Bernard Looney was joined by CFO Murray Auchincloss to discuss first quarter performance. The London-based major for several years has been the No.…

TC Energy Corp. now expects liquefied natural gas (LNG) exports from North America to reach 25 Bcf/d by 2030, up more than 90% from current levels, according to CEO Francois Poirier. “While the world confronts a serious geopolitical shift, a transition to cleaner energy that also meets the world’s demand is still required,” Poirier said…

Executives at Mexico’s national oil company Petróleos Mexicanos (Pemex) said in an earnings call Monday that work toward improving natural gas use and lowering emissions is starting to pay off. Pemex reported a 42% improvement in natural gas capture in the first quarter. The company was able to use 91.6% of gas produced, flaring off…

Houston’s Enterprise Products Partners LP has a bundle of projects in the queue to expand Lower 48 natural gas, liquids and refined projects to serve domestic and overseas demand, the executive team said Monday. Seven projects are being constructed to expand processing, capacity and takeaway from Louisiana, New Mexico, Texas and beyond. Permian Basin natural…