Earnings

Imperial Oil Ltd., the 141-year-old elder statesman of Canadian fossil fuel firms, said it is encouraged by the rising global demand for petroleum products, but it also is bracing for potential impacts that could follow the United Nations climate summit in Glasgow, Scotland. The Calgary-based company, majority owned by ExxonMobil, issued its 3Q2021 results on…

Canada’s AltaGas Ltd. in its third quarter results said the potential engines of growth for the company include plants in the Montney Shale of British Columbia (BC). The company touted its plants in the Montney region of northern BC, which is the supply source for liquefied natural gas export facilities under construction or on the…

CNX Resources Corp. took a big loss on its hedge book during the third quarter, but management defended its strategy and pointed to consistent returns for shareholders during the period when other results surpassed expectations. The company reported a $1.5 billion loss on derivatives. Its projections also show it losing more in the months ahead…

Chevron Corp. said it reaped big benefits from surging natural gas and crude prices in the third quarter, bolstering free cash flow (FCF) and paying down debt while positioning the company to further increase production. The San Ramon, CA-based integrated major produced $6.7 billion in free cash flow in the quarter, more than at any…

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…