Super independent Noble Energy Inc., whose vast U.S. portfolio extends across Texas and Colorado, plans to move cautiously through the year in the Lower 48 by shutting in wells and clawing back activity, while it works to build natural gas infrastructure overseas.
Articles from Earnings
New York City-based New Fortress Energy LLC (NFE) has more liquefied natural gas (LNG) supply than it needs for customers in the Carribean as the Covid-19 pandemic has cut into economic activity and use of the fuel for power generation across the region.
Apache Corp. has eliminated all of its Permian-centered U.S. drilling and completions work and reduced activity overseas to ensure strong liquidity and wait out the dire impacts to demand from Covid-19.
Permian Basin independents Laredo Petroleum Co. and Pioneer Natural Resources Co. are joining their peers in adjusting to the new “normal” by reducing spending and activity to deal with the crushing reversal in energy demand wrought by Covid-19.
Houston-based Marathon Oil Corp., which works in the Bakken Shale, Oklahoma and the Permian Basin, has paused all completion activities and is shutting in some production as it joins the legions of operators at war with low demand and prices.
After months of cost cutting, management changes and a complete overhaul of operations, EQT Corp. CEO Toby Rice said Thursday the nation’s largest natural gas producer is in a “unique position” to take advantage of rising prices.
Tulsa-based Williams, which operates more than 30,000 miles of natural gas pipelines across the onshore and into the deepwater Gulf of Mexico, said demand remains solid in the face of the coronavirus pandemic and the economic disruption it imposed beginning in March.
Lower 48 independent Devon Energy Corp., whose broad portfolio stretches across Texas, and into the Anadarko and Powder River (PRB) basins, has curtailed 10,000 b/d of oil through at least June, with future shut-ins to be made on a month-to-month basis given ongoing price volatility.
Crestwood Equity Partners LP is offering incentive rates across its midstream portfolio in order to generate revenue, but management expects the natural gas liquids (NGL) storage and rail-to-truck liquid petroleum gas (LPG) terminal assets that it recently acquired to be the largest contributor to a projected 3% year/year increase in earnings this year.
Total SA on Tuesday highlighted the resilience of its liquefied natural gas (LNG) sales in the first quarter, which increased by nearly 30% year/year during a period that otherwise squeezed many facets of the supermajor’s operations.