Faster cycle times and strong well productivity drove a production beat for multi-basin independent Coterra Energy Inc. during the third quarter, a performance that led the explorer to increase guidance for the year. The Houston-based exploration and production (E&P) giant, which works in the Anadarko and Permian basins, as well as the Marcellus Shale, expects…
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TC Energy Touts Record NGTL Natural Gas Volumes, New Project Approvals
TC Energy Corp. is transporting record natural gas volumes on multiple pipeline systems in North America as it continues to advance various expansion projects, management said Wednesday. CEO François Poirier hosted a conference call to discuss the Calgary-based midstreamer’s third quarter earnings. “We continue to see strong, sustained demand for our services, and that’s maximizing…
NFE Expects Altamira LNG to Become First Operational Mexican Export Project By Year’s End
New Fortress Energy Inc. has started the flow of natural gas to its offshore Altamira LNG terminal, which could become the first Mexico export project to supply U.S. gas to the international market when production begins in the “next few weeks,” management said Wednesday. During a third quarter call with analysts, CFO Chris Guinta said…
EnLink Sees Permian Driving ‘Modest Growth’ in 2024 Ahead of More Bullish Long-Term Natural Gas Demand
EnLink Midstream LLC continues to see signs of an increasing need for natural gas, with the Permian Basin poised for significant growth ahead following a record quarter. Dallas-based EnLink reported that average natural gas gathering volumes in the Permian were about 6% higher sequentially and 15% higher than the prior-year quarter. Average natural gas processing…
Targa Advancing Permian Projects, Betting on Continued Growth Despite Dip in Delaware Volumes
In the face of operational issues across its gathering and processing systems in the third quarter, Targa Resources Corp. is progressing projects in the Permian Basin to meet the infrastructure needs of producers anticipating strengthening export demand. Operations commenced at Houston-based Targa’s Greenwood plant in the Permian’s Midland sub-basin ahead of schedule in October and…
Magnolia Steadily Growing Natural Gas, Oil Production in South Texas
Houston-based exploration and production outfit Magnolia Oil & Gas Corp. saw efficiency gains in the third quarter while also moderately boosting production from its Eagle Ford Shale and Austin Chalk assets in South Texas. Third quarter production grew 1% sequentially to 82,700 boe/d. The company operates two drilling rigs and one completion crew. One rig…
ProPetro Eyeing More Permian E&P Demand for E-Fleets, Natural Gas-Powered Equipment
The executive team for completions expert ProPetro Holding Corp., whose business is centered in the Permian Basin, remains bullish on natural gas and oil activity rising over the next several years on improved commodity prices and the continued “industrialization” of the energy sector. The Midland, TX-based oilfield services (OFS) firm provides hydraulic fracturing (fracking) services,…
Southwestern CEO Sees Haynesville Producer Discipline, LNG Demand Boosting Natural Gas Prices
The management team of Southwestern Energy Co. sees strengthening natural gas prices on the horizon, as U.S. producers tap the brakes on output and LNG exports continue to rise. CEO Bill Way hosted a conference call to discuss third quarter results for the natural gas-weighted independent, which operates in the Appalachian Basin and the Haynesville…
Sempra Sees Investment in Mexico, Global LNG Demand Boosting North American Energy Markets
Sempra is betting that continued global energy volatility and geopolitical tensions will strengthen North America’s key natural gas markets, supporting its investments in LNG exports and Mexico. In the San Diego-based firm’s third quarter earnings call, CEO Jeff Martin said the series of global conflicts that have impacted global markets recently have accelerated a “trend…
Enbridge Bets Big on U.S. Natural Gas Demand, LNG Exports
Enbridge Inc.’s chief executive touted the Canadian company’s efforts to further expand in the United States – on the Gulf Coast and elsewhere – as part of a bid to capitalize on expected long-term natural gas demand in North America and overseas. The Calgary, AB-based company, already a major force in Canadian and American energy,…