Bloomberg reports some U.S. oil and gas companies would have even higher windfall profits this quarter had it not been for hedging losses. Click here for Bloomberg
Category: General
Former Chesapeake Energy exec picked to head Denver energy company
Former Chesapeake Energy Senior Executive Vice President Chris Doyle was named this week the new President and CEO at Denver-based Civitas Resources. He joins Civitas after serving as President and CEO of Primexx Energy Partners and leading a comprehensive transformation of the privately held Delaware Basin company. From 2016 to 2020, Mr. Doyle served …
Natural gas demand drives big 1Q earnings for Williams
The first quarter earnings reported by Williams Cos. were strong enough, net income of $379 million or 31 cents a diluted share, the company raised its guidance for the remainder of the year. Adjusted net income was $499 million or 41 cents a diluted share, an increase of 16 % and 17% respectively compared …
$1 billion net earnings for Devon in 1Q–record high dividend
Devon Energy’s first-quarter earnings report was so strong with $1 billion in net earnings or $1.48 per diluted share that the Oklahoma City-based company announced a 27% increase in its quarterly dividend along with another share buyback plan. Its production growth in the Delaware Basin drove the first-quarter financial performing as operating cash flow …
Crude oil prices bounced back on Monday while OK energy stock trading was weak
A rebound from steep losses after China’s manufacturing activity dropped to a six-month low in April resulted in oil futures clinging strongly above the $100 level in Monday’s trading. COVID-19 lockdowns in Shanghai resulted in the weekend drops but by day’s end on Monday, prices rose. West Texas Intermediate crude for June delivery settled …
Mullin chides John Kerry for his criticism of natural gas industry
An amended statement by John Kerry, the Special Presidential Envoy for Climate who recently put the natural gas industry on notice, didn’t appease Oklahoma Congressman Markwayne Mullin. He took the former Democratic U.S. Senator to task for his recent attack on the natural gas industry, telling him in a letter this week that he …
Rep. Lucas against climate change solution mandates
Oklahoma Congressman Frank Lucas cautioned a House Committee about cutting natural gas production in the name of what he labeled as “misguided” climate change solutions. His warning came at a recent House Committee on Science, Space and Technology hearing entitled “Now or Never: The Urgent Need for Ambitious Climate Action.” “Now, more than ever, we can …
Pipeline records are open to the public in North Dakota
Energy Transfer fought it but the North Dakota Supreme Court recently ruled that thousands of documents concerning the construction security of the company’s Dakota Access Pipeline are public records. Click here for Bismarck Tribune
Empire names new board member
Retired Navy Vice Admiral Andrew Lewis has joined the board of directors at Tulsa-based Empire Petroleum. The oil and gas company announced this week the appointment was effective immediately and Lewis replaced Anthony Kamin, who served Empire as a Director since December 2016 and recently as Co-Chairman of the Board. Vice Admiral Andrew Lewis was raised …
Leadership changes at Halliburton and ConocoPhillips
Some executive changes were announced this week by the two major energy companies. Halliburton announced the naming of Lance Loeffler, executive vice president and chief financial officer to be a senior vice president of the company’s Middle East North Africa or MENA region. Halliburton Executive Vice President, Global Business Lines, and Chief Health, …