Earnings

ConocoPhillips plans to keep the number of rigs steady on Permian Basin acreage recently acquired from Shell plc. “We plan to continue running four rigs on that property, the same activity rate that Shell was running, through the remainder of this year,” Executive Vice President Tim Leach who oversees Lower 48 operations told analysts during…

Rising oil prices, growing oilsands production and strong consumer demand propelled 2021 earnings by Imperial Oil Ltd. to a high that exceeded even its pre-pandemic performance in 2019. The recovery from the downturn in 2020 continued in the last three months of 2021, despite a severe, prolonged Western Canadian cold snap that disrupted operations and…

Shell plc came into 2022 at a gallop, with the No. 1 liquefied natural gas (LNG) trading and optimization portfolio righting itself and set for a big year ahead lifted by strong global commodity prices and improving demand. CEO Ben van Beurden and CFO Jessica Uhl discussed the quarter and full-year results with investors during…

Drilling expert Helmerich & Payne Inc. (H&P) expects to fetch higher prices for its services in the months ahead, as exploration and production customers call for more equipment bundled with high-tech solutions, CEO John Lindsay said. Lindsay helmed the recent conference call to discuss results in the final three months of 2021, which was H&P’s…

After Covid-19 whipsawed the global economy over the past two years, Enterprise Products Partners LP (EPD) expects 2022 to bring a continuation of the global economic recovery and growth in crude oil, natural gas and natural gas liquids (NGL) production in the United States, driven primarily by the Permian Basin and Haynesville Shale. “We believe…

Murphy Oil Corp., whose portfolio extends across North America’s onshore, into the offshore and overseas, is raising its capital spending this year, with an eye on pumping up oil and natural gas volumes. The management team of the Houston-based independent provided some insight on the strategy for 2022 during a recent conference call to share…

ExxonMobil unveiled its fourth quarter and full-year results on Lunar New Year’s Day Tuesday, aptly the Year of the Tiger. For the integrated major, this year looks to be even better than 2021, with the global natural gas trading business potentially playing “a bigger role going forward,” CEO Darren Woods said. Woods offered insight into…

Refining heavyweight Valero Energy Corp. ended 2021 with gasoline demand at pre-pandemic levels and diesel demand higher than pre-pandemic levels across its system, CEO Joe Gorder said Thursday. “We also saw a significant jet fuel recovery as domestic and international travel opened up, increasing from approximately 60% of pre-pandemic levels at the beginning of the…

Stronger commodity prices and sizable mergers helped two of Asia’s biggest liquefied natural gas (LNG) suppliers, Woodside Petroleum Ltd. and Santos Ltd., end 2021 with ballooning sales revenues. Both Australian companies built on the momentum of a stronger than expected 2020 by capitalizing on the market fluctuations of 2021, cashing in big at the end…