ConocoPhillips Forecasts Low, Single-digit Oil Production Growth
“We have a lot of capacity in the gas space, both LNG and natural gas,” CEO Ryan Lance added, “and we wanted to augment that with additional LNG liquefaction capacity.”
Suncor Energy Quarterly Profit Surges, Plans to Divest Assets
Suncor, Canada’s third-largest oil producer, said it has signed a deal to divest its Norway assets for about $410 million, and has also begun a sale process for its entire U.K. business after receiving interest.
Brigham Minerals Explores Sale or Merger, Sources Say
Brigham Minerals’ shares have risen more than 20% this year as it benefited from elevated energy prices, prompting founder and CEO Bud Brigham to consider a sale, the sources said.
Pioneer’s Sheffield Sees $100 Oil Persisting, Amid Bump in OPEC+ Output
“It was miniscule. They just don’t have the supply,” Pioneer Natural Resources CEO Scott Sheffield said, pointing to OPEC heavyweights Saudi Arabia and United Arab Emirates.
ConocoPhillips Sweetens Shareholder Returns by $5 Billion as Profit Jumps
Houston-based ConocoPhillips said the average price received for a barrel of oil and gas rose 77% from a year earlier to $88.57. The company has not hedged any of its oil and gas sales to make the most of higher market prices, it said.
Analyst Q&A: E&Ps Should Set Net-zero Targets for 2030, Not 2050
Kimmeridge Managing Director Megan Hays discusses the urgency for the oil and gas industry to rapidly decarbonize and the E&P companies that have become leaders in achieving their net-zero goals.
APA, Marathon Oil, Ovintiv Boost Returns as Oil Prices Surge
The sharp focus on returns comes as oil companies remain under pressure from shareholders to increase payouts rather than spend excessively on new oil growth.
Apache Unveils $555 Million Acquisition of Texas Delaware Basin Properties
APA, the holding company of Apache, didn’t disclose the seller but, earlier on Aug. 3, Reuters reported that the company was buying assets in Texas from privately owned Titus Oil & Gas.
Oil Producer APA’s Second-quarter Profit Nearly Triples
Houston-based APA is the latest oil and gas producer to post sharply higher profits, benefiting from surging oil prices after demand rebounded to pre-pandemic levels and sanctions on major energy producer Russia dented global supply.
Coterra, Chesapeake, Pioneer Boost Shareholder Returns on Strong Profits
Chesapeake Energy, Pioneer Natural Resources and Coterra Energy combined reported $4.84 billion in profits for the quarter. The earnings gains come as shale producers continue to face inflationary pressures that are driving up operating costs.