Earnings

Two of Asia’s biggest liquefied natural gas (LNG) suppliers, Woodside Petroleum Ltd. and Santos Ltd., posted higher first quarter revenues despite loading fewer volumes over the previous three-month period as commodity prices strengthened. Woodside last month said LNG sales in 1Q2021 amounted to 17.6 million boe/d, down from 19.4 million boe/d in 4Q2020 and 17.8…

Diamondback Energy Inc. CEO Travis Stice said until there’s a “clear signal” to increase oil output, there are no plans to expand volumes this year in the Permian Basin. Stice and his management team discussed first quarter performance and the outlook for the oil and gas market during a conference call. The CEO pointed to…

Output grew and profits revived across Suncor Energy Inc.’s wells-to-wheels chain of Alberta oil and national refining and retailing operations during the first three months of this year. Management said it was well positioned to maintain financial health across its production to retail chain “as the deployment of  vaccines leads to recovering economies and an…

Infraestructura Energética Nova (IEnova) reported growth in volumes and revenue from its natural gas business in Mexico during the first quarter and expects the trend to continue, management said during an earnings call last week. CEO Tania Ortiz Mena told analysts last Thursday that the Energía Costa Azul (ECA) liquefied natural gas (LNG) export project…

Global oilfield technology specialist Helmerich & Payne Inc. (H&P) is making “good progress” in deploying digital technology solutions and revamping commercial models for the industry, but there’s still work to be done, CEO John Lindsay said last week. Lindsay and CFO Mark W. Smith shared a microphone to discuss the fiscal 2Q2021 results and the…

As the global economy awakens from the coronavirus-induced slumber, Saudi Arabia Oil Co., aka Aramco, is springing back as well, reporting its first quarter profits jumped 30% from a year ago, sharply surpassing expectations. “Given the positive signs for energy demand in 2021, there are more reasons to be optimistic that better days are coming,”…

ConocoPhillips’ 1Q2021 profit marked its first amid the coronavirus pandemic and reflected both a recovery in global oil demand and a winter surge in domestic natural gas prices. The Houston-based energy giant in the first quarter also closed its $9.7 billion acquisition of Concho Resources Inc., forming a Permian Basin powerhouse that will rival the…

Equinor ASA’s U.S. natural gas production ticked up in the first quarter, driven by activity in the Appalachian Basin, offsetting a drop in the Norwegian major’s overall output. The company logged 236,300 boe/d from its Marcellus Shale in 1Q2021, compared to 207,000 boe/d reported in the previous quarter and 186,600 boe/d in 1Q2020. Total Marcellus…

Cheniere Energy Inc. exported a record number of liquefied natural gas (LNG) cargoes during the first quarter despite the impacts of Winter Storm Uri, which shut down the Corpus Christi LNG plant in South Texas for several days. The company said in its first quarter earnings report it shipped 133 cargoes during the period, compared…