Earnings

Continental Resources Inc. has upwardly revised its 2022 forecast for capital spending, as well as oil and natural gas production, management said Thursday.  Oklahoma City-based Continental is the top producer in the oily Bakken Shale and the gassy, liquids-rich Anadarko Basin. Following a pair of recent acquisitions, it also is the No. 2 leaseholder in…

ConocoPhillips joined other exploration and production (E&P) companies in reporting rising earnings, thanks to geopolitical impacts to oil and gas prices, but management said it should move on “full value chain” opportunities in liquefied natural gas (LNG) to further enhance its gas business. The Houston-based independent, the world’s largest, has substantial global holdings in gas.…

Projections of Lower 48 oil production growth this year are “way too high,” Pioneer Natural Resources Co. CEO Scott Sheffield said Thursday. Irving, TX-based Pioneer is among the largest producers in the Permian Basin, with operations focused on the Midland sub-basin. As evidence, Sheffield pointed to comments by oilfield services CEOs, including Halliburton Co.’s Jeff…

Permian Basin pure-play Diamondback Energy Inc. is not budging on plans to keep oil production flat this year, despite increased market tightness because of Russia’s invasion of Ukraine, said CEO Travis Stice. Diamondback “is committed to maintaining our current production levels, providing a significant supply of energy to our country and the world,” said Stice…

As the top supplier of Canadian natural gas, Calgary-based independent Tourmaline Oil Corp. plans to increase Montney Shale output when tanker sailings begin from the Shell plc-led export project, LNG Canada. Plans to boost supply for the liquefied natural gas (LNG) facility under construction in British Columbia (BC) were discussed by Tourmaline’s management team as…

As the invasion of Ukraine fuels record prices for U.S. liquefied natural gas (LNG), Sempra plans to hold steady on prioritizing long-term contracts and equity partnerships, which management said have become more important during the conflict. The Sempra Infrastructure Partners subsidiary of the San Diego-based energy company has a hefty list of proposed and sanctioned…

A day after reports surfaced that activist investor Kimmeridge Energy Management Co. LLC had taken a stake and was pushing for change, Chesapeake Energy Corp. CEO Nick Dell’Osso said Thursday he agreed the company is undervalued. Reuters initially reported that Kimmeridge took a 1.6% stake in the Oklahoma City-based independent, putting it among the largest…

The management team for Comstock Resources Inc., the largest exploration and production (E&P) firm focused on the gassy Haynesville Shale, on Tuesday signaled it would consider taking stakes in a liquefied natural gas (LNG) export facility. Citing the Haynesville’s proximity to Gulf Coast LNG export terminals, CEO Jay Allison told analysts during a call to…

Shell plc, the world’s largest natural gas buyer, continues to nab agreements to buy more supply in a world ever thirstier for the fuel, CEO Ben van Beurden said Thursday. Addressing investors during the first quarter conference call, van Beurden was joined by new CFO Sinead Gorman, who took over for long-time financial chief Jessica…