Carolyn Davis

Canada’s natural gas and oil sector faced daunting challenges during the second quarter because of the still-unfolding wildfire season, but activity overall has recovered, according to some of the top operators.

The United States exported 1.03 Tcf of LNG during the first quarter to 34 countries in 324 tanker cargoes and 85 container loads, leading the North American natural gas trade, according to the U.S. Department of Energy.

Lower 48 independent Coterra Energy Inc. exceeded production guidance during the second quarter across the board – for natural gas, oil and liquids – lifted by outperformance in well results and a 9% jump in Marcellus Shale natural gas volumes.

Canada’s largest natural gas producer Tourmaline Oil Corp. has agreed to join Rockies LNG Partners, a group of explorers working to advance a 1.6 Bcf/d export project on the west coast of British Columbia (BC).

Dallas-based EnLink Midstream LLC is primed to build its Lower 48 oil and natural gas gathering and transportation business, with an eye on expanding opportunities for carbon capture and storage (CCS), the CEO said Wednesday.

The uncertain direction of natural gas and oil prices during the second quarter led to an “underlying sense of apprehension” by oilfield services (OFS) companies, but there are signs that business will get better before the end of the year and improve through 2024 as customers prepare for more U.S. LNG exports.

Haynesville Shale exploration and production (E&P) companies are biding their time and keeping an eye on forward natural gas prices in anticipation of more LNG takeaway by 2025, DT Midstream Inc. (DTM) CEO David Slater said Tuesday.

Europe has a better forecast for natural gas storage ahead of this coming winter, but it’s too soon to say whether the continent is fully prepared, BP plc CEO Bernard Looney said Tuesday.

The Biden administration is attempting to walk a fine line to strengthen environmental protections and advance more energy infrastructure, but oil and gas industry advocates aren’t buying it.

Lower natural gas and oil prices, combined with reduced output, took a bite out of ExxonMobil’s profits during the second quarter, but it continues to expand on the Gulf Coast, with more acquisitions possible, CEO Darren Woods said Friday.