EIA Reports US Natural Gas Production Fell 2.3% in December

The EIA reported that US natural gas production fell 2.3% in December to 119,900Mbpd which is up 1% from a year ago. Production was impacted by extreme winter storms in December. Texas is the U.S.’s top producer with 26.09% of US natural gas production. US Natural Gas by State Texas produces 26.09% of US natural gas, 1.7% comes from offshore in the Gulf of Mexico, 16.45% from Pennsylvania, 9.6% from Louisiana and 8.9% from Alaska. Source: EIA From The TradersCommunity … Continue reading “EIA Reports US Natural Gas Production Fell 2.3% in December”

Diamondback Energy Earnings Beat in a Record Year for the Permian Basin Specialist

Texas independent oil and natural gas company Diamondback Energy reported better than expected fourth quarter earnings after the market close Tuesday. FANG reported adjusted gains of $1.01B, or $5.62/share, from $1B, or $5.50/share, on revenues of $2.03B, roughly flat compared to sales of $2.02B, in the year-earlier quarter. Average production in Q4 was 226.1K bbl/day and FANG expects Q1 2023, production of 248K-252K bbl/day of oil, or 415K-422K boe/day, on capital spending of $625M-$675M. Diamondback operates exclusively in the Permian … Continue reading “Diamondback Energy Earnings Beat in a Record Year for the Permian Basin Specialist”

Diamondback Energy Earns Record $1.18 Billion with Higher Permian Production

Texas independent oil and natural gas company Diamondback Energy reported better than expected third quarter earnings after the market close Monday. FANG reported adjusted gains of $6.48 per share beating expectations $6.66. Revenue increased to $2.44 billion from $1.91 billion. The average price of oil was $89.79 per barrel in the third quarter of 2022, compared with $68.27 in the third quarter of last year, Diamondback said. The release follows last week’s earnings from oil and gas heavyweights Chevron, Exxon, … Continue reading “Diamondback Energy Earns Record $1.18 Billion with Higher Permian Production”

Diamondback Energy Record $1.3 Billion in Free Cash Flow Raises Permian Production

Texas independent oil and natural gas company Diamondback Energy reported better than expected second quarter earnings after the market close Monday. FANG reported adjusted gains of $7.07 per share beating the expected $6.66. The release follows last week’s earning from oil and gas heavyweights Chevron, Exxon, Shell and Phillps 66. Goldman Sachs named the stock among its top five picks for 2022 shortly before the earnings release. FANG shares are down over 20% from their June peak like many in … Continue reading “Diamondback Energy Record $1.3 Billion in Free Cash Flow Raises Permian Production”

Enservco Revenue up 44%, Strong Cash Position Primed For Soaring Oil and Gas Well Production

Oil and gas well site service company Enservco reported better than expected results last month with Q2 revenue up 44%.  $ENSV heads into a global energy crisis with soaring oil and gas prices with a strong cash position.

Diamondback Energy Takes a $2.54 Billion Impairment Charge From Oil and Gas Price Plunge

Texas independent oil and natural gas company Diamondback Energy reported better than expected adjusted second quarter earnings after the market close Monday. $FANG however took a $2.54 billion impairment charge against its oil and gas properties.

Diamondback Energy Earnings Beat, Cuts Capital Expenditure 40 Percent

Texas independent oil and natural gas company Diamondback Energy reported better than expected first quarter earnings after the market close Monday. $FANG said it will cut oil production further due to the demand collapse from the Covid-19 lockdown.

Diamondback Energy Earnings Miss As Production Falls With Asset Sales

Texas independent oil and natural gas company Diamondback Energy reported worse than expected third second quarter earnings after the market close Tuesday. $FANG said oil production declined in the quarter due to asset sales earlier in the year.