Earnings

Sempra is budgeting a record high $15 billion five-year capital plan for its Texas electric utility as it works to meet projected load growth in “one of the fastest growing markets in the country,” CEO Jeff Martin said late last week. The San Diego-based company’s Oncor Electric Delivery Co. LLC subsidiary had boosted capital expenditures…

Strong demand and rising prices for natural gas liquids (NGL) led to a surge in profits and capacity growth in British Columbia (BC) during the third quarter, Calgary-based Keyera Corp. said. “With more tailwinds than we’ve seen in quite some time, we’re feeling encouraged and optimistic about the future,” said President Dean Segoguchi of the…

San Diego-based Sempra Infrastructure said it could sanction a second liquefied natural gas (LNG) export terminal on Mexico’s Pacific Coast ahead of another planned U.S. export project. In discussing third quarter 2021 results, Sempra Infrastructure CEO Justin Bird said the Vista Pacifico LNG export facility would be similar in size to Phase 1 of the…

Buoyed by a supportive commodity price environment, Occidental Petroleum Corp. claimed its highest free cash flow since the turn of the century, with production at the high end of guidance even with extended downtime from Hurricane Ida. CEO Vicki Hollub and her executive team shared the third quarter results during a wide-ranging conference call. Hurricane…

Rising oil and natural gas prices and production powered a 550% leap in profits and a dividend increase by Canadian Natural Resources Ltd., the nation’s top producer. The accounts also confirmed that the independent has steered a financial improvement course throughout this year after surviving the energy market lows inflicted by the Covid-19 virus. President…

Houston-based EOG Resources Inc., one of the Lower 48’s biggest oil and natural gas producers, is looking to give back to shareholders instead of boosting volumes, with discipline still the mantra going into 2022. The independent delivered better-than-expected natural gas, oil and liquids production during 3Q2021, along with sharply higher profits, CEO Ezra Yacob said…

Management for New Fortress Energy Inc. expects liquefied natural gas (LNG) demand to “materially” exceed supply through 2039, saying in the third quarter 2021 earnings report that underinvestment in fossil fuels has left the global market vulnerable. Investment in oil and gas projects, according to NFE, has dropped sharply in recent years, going from $800…

While promising to work toward “lower-carbon solutions,” Enbridge Inc. reported Friday that its mainstay North American oil and gas pipeline network stayed profitable and essential during the third quarter. In fact, the Calgary-based pipeline, utility and power giant grew during the period. Current fossil fuel demand and price increases “underscore the criticality of affordable, reliable…

Diamondback Energy Inc. does not plan to grow its Permian Basin oil production next year despite the bullish outlook for prices, management said Tuesday. CEO Travis Stice told analysts during the third quarter 2021 earnings call that, “In order to initiate a moderate growth plan, we would need to see material changes to global oil…