By focusing on organic growth, Summit Midstream Partners and Crestwood Equity Partners’ futures look bright.
Borr Drilling has contracted several rigs at day rates at or above $100,000 per day over the last month, double prices seen in 2017, while its competitors have made similar deals.
Oil and gas producer Whitecap Resources Inc. on Aug. 26 cut its capital spending plan by 17% for the second half of 2019 citing global economic uncertainty.
Australia's No. 2 independent gas producer Santos Ltd on Thursday posted a 89% jump in half-year profit, boosted by its acquisition of Quadrant Energy and strong output from its Cooper Basin fields in South Australia.
Australia's largest oil and gas company, Woodside Petroleum, on Aug. 15 posted a smaller half-year profit and cut its interim dividend, mainly due to extended maintenance period at its Pluto LNG facility, which led to production delays.
Saudi Aramco reported a 12% fall in half-year net profit on Aug. 12, yet remained the world's most profitable company, while India's Reliance Industries said Aramco is looking to buy into its refining and petrochemicals business.
U.S. production at the company jumped 11.4% to 332,000 barrels of oil equivalent per day (boe/d) in the second quarter, while total production rose 3.8% to 435,000 boe/d.
The company reported falling well costs in the Permian Basin as production increased.
Natural gas makes up for a majority of Chesapeake Energy's production. But the company has been shifting its focus to oil production as gas prices have been pressured.