Earnings

Earnings , Unconventional , Shale Plays

More Trouble for Shale: US Oil Gains Slow, Costs Rise

Diamondback Energy CEO Travis Stice said the top U.S. shale field has stretched to volumes of between 5.3 million to 5.5 million bbl/d. But the industry “is going to be challenged to continue to grow that into the future.”

November 8, 2022

Earnings , Unconventional

Diamondback Energy Quarterly Profit Beats Market Estimates

Diamondback Energy raised its full-year net production guidance to 385,000-386,000 boe/d, to reflect the additional 7,400 boe/d the FireBird acquisition is expected to add. It also raised its capex for the year.

November 7, 2022

Earnings , Field Development

Petrobras’ P-71 FPSO Starts in 2022, Four to Follow

Brazil’s state-owned Petrobras looks to start up an FPSO unit this year ahead of schedule followed by four others in 2023 with combined capacity to produce 630,000 bbl/d.

November 7, 2022

Earnings , Exploration & Production

Kosmos Energy Outlines Plans to Grow Production by 50%

Developments underway are expected to increase Kosmos Energy’s oil and gas output by 50% by 2024, the Dallas-based E&P company unveiled in its Q3 earnings.

November 7, 2022

Public Capital , Earnings

Berkshire Hathaway Could Boost Earnings after Occidental Accounting Change

In its quarterly report on Nov. 5, Warren Buffett’s Berkshire Hathaway said it adopted the equity method of accounting for its 20.9% stake in Occidental Petroleum, which is worth more than $14 billion.

November 7, 2022

Earnings , Liquefied Natural Gas , International

Shell CEO Confident on Long-Term LNG Demand

Shell’s CEO and CFO remain optimistic about long-term demand for LNG while continuing to lead the conversations with governments about the energy crisis, windfall taxes and ways to still stimulate energy investments.

November 7, 2022

Earnings , Unconventional , Natural Gas

Natgas-Bagging: Chesapeake’s Choking Back Haynesville Growth for Now

Chesapeake Energy is teeing up for more natural gas takeaway and LNG demand in late 2023 and into 2024. Plans have been canceled for adding an eighth rig in the Haynesville.

November 6, 2022

Public Capital , Earnings , Exploration & Production

EOG, Coterra Join Oil Profit Bonanza, Boosts Investor Returns

A rally in energy prices has helped EOG Resources raise its quarterly dividend by 10% and declare a special dividend. Meanwhile, Coterra Energy pledged to return nearly a third of its free cash flow to shareholders.

November 4, 2022

Earnings , Shale Plays , Acquisitions & Divestitures

Devon Shares Slide Despite Q3 Production, Cash Beats

Devon Energy stock fell more than 10% as the company ramps up drilling in the Permian Basin and newly acquired areas in the Eagle Ford and Williston Basin

November 4, 2022

Earnings , Liquefied Natural Gas , Midstream

Cheniere Energy’s Revenue More than Double on Soaring LNG Demand

Cheniere Energy is pursuing permits to expand its Texas and Louisiana gas-liquefaction plants to double total capacity to 60 million tonnes of LNG per year, said CEO Jack Fusco.

November 3, 2022