Articles tagged Earnings

Offshore basins throughout the world are driving revenue growth for SLB Ltd. amid a slowdown in the North American onshore segment, according to CEO Olivier Le Peuch.

Mexico’s presidential election was on Sunday (June 2), with far-reaching implications for the natural gas market. For longer term trends in the Mexico natural gas market, NGI reviewed some of the first quarter of 2024 earnings calls of key players in the industry. 

Liberty Energy Inc. CEO Chris Wright said Thursday he does not expect exploration and production customers to increase their onshore natural gas activity before the end of this year, but a lack of activity will not be a stumbling block to advance future opportunities.

Argentina’s 51% state-owned oil and gas company YPF SA is aiming to sanction a large-scale LNG export project by mid-2025, with the first 1-2 million metric tons/year (mmty) of liquefaction capacity online by 2027, the firm’s new management said. 

Calgary-based Vermilion Energy Inc., whose North American exploration expertise extends overseas, said it is advancing key growth projects to add more “premium-priced” European natural gas to the portfolio, while divesting higher cost assets in Canada. 

Calgary-based Pembina Pipeline Corp. has secured an agreement to supply natural gas liquids (NGL) for Dow Chemical Co. and is advancing LNG pipeline expansion projects that could provide multiple opportunities and more growth following a strong year.

Though it is a major producer of U.S. natural gas, oil economics will dictate investment decisions for Devon Energy Corp. for the foreseeable future, management indicated Wednesday.

The headwinds resulting from low natural gas and oil prices have driven Helmerich & Payne Inc. (H&P) toward opportunities to showcase the capabilities of the high-tech rig fleet and drilling solutions, according to CEO John Lindsay.

Coterra Energy Inc. is “throttling back on operations” in the Marcellus Shale to start 2024, but management is “highly optimistic on the 12- to 18-month outlook” for natural gas as LNG facilities come online, CEO Tom Jorden said. 

The Permian Basin remains its largest growth market, but with natural gas supply and demand dynamics shifting, Louisiana will surpass Oklahoma to become EnLink Midstream LLC’s second largest segment this year, according to management.