Sempra is betting on substantial growth in global LNG demand over the coming years despite regulatory uncertainty over the future of U.S. exports, management said. CEO Jeffrey Martin hosted a conference call to discuss first quarter 2024 earnings for the San Diego, CA-based energy firm. Through its Sempra Infrastructure unit, the company has nearly 40…
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Articles from Earnings
TC Energy Nears Commercial Start-Up of Coastal GasLink, Advances Southeast Gateway Offshore Pipeline
TC Energy Corp. has completed the northern portion of its Southeast Gateway and is moving to start commercial operations of its Coastal GasLink (CGL) supplying feed gas to LNG Canada. Management for the Calgary-based pipeline giant provided updates on major projects during a first quarter earnings call. In Mexico, TC has installed more than 70%…
Lower Natural Gas Prices, Rising Demand Fueling Uptick in International LNG Projects, Chart CEO Says
While regulatory uncertainty has clouded the outlook for large U.S. export projects, Chart Industries Inc. reported lower global prices and a continued rise in demand is driving an uptick in international LNG and natural gas projects this year. Management of the Atlanta-based specialty equipment manufacturer told analysts during a recent 1Q2024 call that liquefied natural…
NFE Expects First Cargo From Offshore Mexico LNG Project in June
New Fortress Energy Inc. (NFE) expects its floating LNG (FLNG) platform offshore Altamira, Mexico to produce first volumes later this month after experiencing a mechanical issue in April. NFE management in the first quarter earnings report said that the first cargo could be loaded at the liquefied natural gas facility in June. The company previously…
Williams CEO Says Natural Gas Demand Accelerating, but ‘Oversupplied’ Market Needs to be ‘Patient’
Williams executives are expecting strong growth for natural gas consumption in the years ahead, but said those levels of demand may not come “quite as quickly as a lot of people think,” and, in one case, that demand was not enough to overcome opposition to a pipeline project. “Natural gas demand is not just growing…
BP Playing Contrarian on Low Natural Gas Prices, as Haynesville Output ‘Hedged Out’ through 2024
BP plc will continue to pump out “prolific” natural gas volumes from the Haynesville Shale as hedges are in place pricing the supply at around $4.00/Mcf through this year, CEO Murray Auchincloss said Tuesday. Auchincloss discussed first quarter performance during a conference call. He was asked why domestic gas volumes continue to be high in…
Canada’s Tourmaline Touts Profitability Amid ‘Extremely Weak’ Natural Gas Prices
Canada’s largest natural gas producer, Tourmaline Oil Corp., is using hedging and a diversified marketing strategy to counteract low prices for the commodity in Western Canada, management said. CEO Michael Rose hosted a conference call to discuss first quarter earnings for Tourmaline, which operates in the Alberta Deep Basin, the Montney Shale and the Peace…
EOG Staying Active, Bullish Longer Term on North American Natural Gas Market
Multi-basin exploration and production firm EOG Resources Inc. is managing its natural gas program to align with demand dynamics, management said in its first quarter earnings call. “While we expect the natural gas market to remain soft through the end of this quarter, much like last year, we expect it to strengthen through the second-half…
Coterra Curtailing Marcellus Completions, Cautiously Awaiting Stronger Natural Gas Prices
Houston-based Coterra Energy Inc. is shifting its near-term capital spending in the Lower 48 to focus on oil and liquids-rich plays, but optionality is still in play to take advantage of a “structural change in the natural gas macro” later this year, CEO Tom Jorden said. During the first quarter conference call, Jorden said caution…
Comstock’s Haynesville-to-Gulf Coast Strategy On Track, but Coping with Low Natural Gas Prices Job No. 1
Nearly everything is in place for Haynesville Shale pure-play Comstock Resources Inc. to become a major LNG supplier. First, though, the company has an “all-hands” effort to manage the assets with uncooperative natural gas prices. CEO Jay Allison discussed the first quarter performance and the outlook during a recent conference call. It was a tough…