Earnings

Matador Resources Co. nearly doubled its third quarter earnings versus the same period last year, citing improved commodity prices and operational efficiency. The Dallas-based independent operates primarily in the Permian Basin’s Delaware sub-basin, which accounted for 93% of total production in 3Q2011. Matador also operates in the Eagle Ford and Haynesville/Cotton Valley shale plays. During…

TotalEnergies SE posted big gains on the global commodities rally in the third quarter, tapping its integrated structure to supply a world short on energy and sharply reversing the losses it sustained during the pandemic downturn last year. “The global economic recovery, notably in Asia, drove all energy prices sharply higher in the third quarter…

ExxonMobil has boosted its annual spending on low-carbon ventures to $3 billion a year over the next five years, four times higher than initially planned, with expanded emissions targets set to be issued later this year, CEO Darren Woods said Friday. Woods detailed the $15 billion capital now earmarked during a wide-ranging conference call. Analysts…

U.S. independent Hess Corp. has added a third rig in the Bakken Shale and may consider a fourth next year amid continued commodity price strength. The New York-based producer is ramping up Bakken activity after curtailments last year from the coronavirus. Net production from the Bakken was 148,000 boe/d in the third quarter compared with…

EQT Corp., which on Thursday reported a larger year/year loss for the third quarter, said that it expects a pair of 2021 deals to lower its firm gas transportation costs by about 5 cents/Mcfe going forward. In one deal, EQT reached an agreement to sell down up to 525 million Dth/d firm transportation capacity on…

Range Resources Corp., one of the largest natural gas producers in the Appalachian Basin, has no plans to increase drilling activity despite prices trading at their highest levels in years.  “Our key strategic objectives continue to emphasize free cash flow generation, balance sheet strength and ultimately returning capital to shareholders — all of those are…

Royal Dutch Shell plc CEO Ben van Beurden came out swinging on Thursday against activist calls to break up the company to improve financial and environmental performance. Van Beurden and CFO Jessica Uhl helmed a conference call to discuss the third quarter results. Shell’s strategy has come under fire from climate activists and courts, but…

An uptick in North American oil and natural gas activity, brought about because of the tight global commodity markets, has “bolstered demand” for Liberty Oilfield Services Inc.’s completions services and set it up for a strong 2022, CEO Chris Wright said Wednesday. With heightened demand to drill, more customers today also are looking for “modern,…

Surging oil and natural gas prices drove higher global demand for NOV Inc.’s oilfield services in the third quarter as orders eclipsed shipments, but “pandemic-related supply chain issues” pressured some projects, CEO Clay Williams said Wednesday. Williams and his management team discussed the Houston-based operator’s third quarter performance and the outlook ahead during a conference…