Earnings

Equinor ASA continued to advance its worldwide energy portfolio during 2020, with a long-term strategy set on becoming a net-zero emissions leader relying less on fossil fuels. The management team held court with analysts and investors on Wednesday to share results for 2020 and the outlook going forward. Mirroring comments made by Big Energy CEOs…

Appalachian pure-play Cabot Oil & Gas Corp. plans to keep year/year production flat in 2021 and cut spending, despite what management believes is likely to be a better year for natural gas producers. In formally releasing its plans for this year, the company reiterated preliminary guidance unveiled in October to move through 2021 in maintenance…

Bismarck, ND-based MDU Resources Group Inc. on Thursday reported record 2020 earnings across all of its businesses, including natural gas and power utilities in eight states. CEO David Goodin and senior executives said they expect continued growth in 2021 despite the Covid-19 pandemic as construction materials and services businesses accounted for nearly two-thirds of the…

The Denver-based Liberty Oilfield Services Inc. management team sees “early signs” that an economic recovery is underway, but customers still are wary of ramping up drilling and completion services in North America’s onshore.  CEO Chris Wright led a conference call on Friday to discuss fourth quarter results and conversations with activity planned by exploration and…

The oil and gas industry is tethered until Covid-19 is a bitter memory, but the time is now to pursue more renewable opportunities in the oilfield services sector, NOV Inc. CEO Clay Williams said Friday. Like its peers and exploration and production (E&P) customers, the downturn will continue in the energy industry “until the world…

Drilling and completions expert Patterson UTI Corp. is running 70 rigs today across the Lower 48, up three from the January average, and more equipment is likely to ramp up in the months to come, CEO Andy Hendricks said Thursday. Hendricks, who discussed the outlook during a fourth quarter conference call, said the company’s rig…

The pandemic discombobulated the timeline for the massive natural gas export project underway in British Columbia, but Royal Dutch Shell plc has been able to recoup some of the lost time because most of the construction is in Chinese yards, which are “back and running,” CEO Ben van Beurden said Thursday. The CEO and CFO…

Phillips 66 wants to exploit the technology base it has to advance a lower carbon business platform, while maintaining a strong balance sheet and returning value to shareholders. The Houston-based energy firm sharply reduced the 2021 capital expenditure (capex) budget to $1.7 billion, down from $3.1 billion last year. About $1.1 billion of sustaining capital…

Enterprise Products Partners LP executives said the company emerged from the depths of 2020 relatively unscathed, producing profits and upbeat about both the year ahead and long-term prospects. The executives during a conference call Wednesday to discuss fourth quarter and full-year 2020 results, noted they are optimistic despite the change of power in Washington, DC,…