Atmos Energy expects to earn more in 2026 after a quarterly profit increase
Atmos Energy, the U.S. distributor of natural gas, forecast on Wednesday higher earnings for fiscal year 2026 after posting a 30% increase in its fourth-quarter profits. The utility is ramping up capital expenditures on pipeline safety and technology. In fiscal 2026, the Dallas-based utility expects to earn a profit per share between $8.15 and $8.35, compared with $7.46 this year. According to the U.S.
EIA: Oil producers must increase drilling to maintain production
The U.S. Energy Information Administration announced on Tuesday that oil and gas producers would need to increase drilling in order to maintain or increase production due to the rapid decline of existing wells. WHY IT MATTER The U.S. has the largest oil production in the world, reaching a record of 13.8 million barrels a day in August. The weak oil price and increasing costs have forced energy companies to reduce billions of dollars in spending and slow drilling…
Coterra Energy misses quarterly profit, raises 2025 production forecast
Coterra Energy, an oil and gas company, missed Wall Street's expectations for the third quarter profit on Monday as lower oil prices offset an increase in production. However, it raised its production forecast. In after-market trading, shares of the company fell 3% to $23.66. U.S. president Donald Trump's policies on trade fueled uncertainty in the energy sector, as trade tensions escalating threatened to slow down global economic growth and weaken demand for energy.
Baker Hughes reports that US oil and gas drillers have cut back on rigs in the US for the first time in 3 weeks.
Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies have cut back on the number of rigs for the first time since three weeks. The number of oil and gas drilling rigs, a good indicator of future production, dropped by four in the week ending October 31 to 546, the lowest level since September. Baker Hughes reported that the total number of rigs is down 39, or 7% from this time last.
EIA data show that US oil and gas production reached a new record high in August.
The Energy Information Administration reported on Friday that U.S. gas and oil production reached record levels in August despite fears of a market surplus. The record U.S. production of oil has been a major factor in the slumping commodity prices that we have seen this year. Brent crude, the global benchmark, traded just above $65, or 14% less than it did at the same time last. This is partly…
Utility WEC Energy beats profits on higher power demand
WEC Energy Group beat Wall Street's expectations for the third quarter profit, and posted an 13% increase in net income. The utility also benefited from higher electricity demand among all customer segments. The U.S. Energy Information Administration predicts that power demand in the United States will reach record levels in 2025-2026. This is due to the growth of AI and cryptocurrency datacenters, as well as broader electrification.
DTE Energy increases its five-year plan to spend $6.5 billion on data centers power demand
Oct 30 – DTE Energy raised its capital investment plan for the next five years by $6.5 billion. This was due to an increase in electricity demand by data centers, and to efforts to modernize utility assets. DTE's third-quarter profits also exceeded Wall Street expectations thanks to higher revenues from its electric division. Utility said that its revised investment plan represents a 22% increase over its previous plan for 2025-2029…
Utility AEP increases capital spending plan to meet demand for data center power
American Electric Power increased its five-year investment plan from $54 billion to $72 billion Wednesday to meet the unprecedented demand for power by customers such as data centers and industries. In premarket trading, shares of the company increased by 3.2%. U.S. utilities have increased their capital budgets to meet the growing demand from technology companies who are building data centers for complex AI-related tasks.
NextEra beats quarterly profit estimates on renewables strength, robust power demand
NextEra Energy surpassed Wall Street expectations for its third-quarter adjusted profits on Tuesday. This was due to the strength of its renewables unit, as well as increased demand from data centres fueling artificial intelligence's boom. According to the U.S. Energy Information Administration, power consumption will reach record levels in 2025 and in 2026 due to a surge of demand for data centers that run artificial intelligence technology.
Baker Hughes reports that US drillers have added oil and gas rigs to their fleets for the second week running.
Baker Hughes, a leading energy services company, said that U.S. firms added oil and gas rigs this week for the second consecutive week for the first since September. The number of oil and gas drilling rigs, a good indicator of future production, increased by two in the week ending October 24 to reach 550, its highest level since June. Baker Hughes reported that despite this week's increase in rigs the total number of rigs was still 35 rigs or 6% lower than this time last year.
U.S. natural-gas sector deals will surge in 2025 due to AI and LNG demand from Asia
Analysts say that U.S. Natural Gas dealmaking is expected to increase in 2025, due to the record demand for power from AI data centres, increased LNG exports, and renewed Asian investments. According to the U.S. Energy Information Administration, data centers will be responsible for a surge in electricity demand that is unprecedented this year. The price of benchmark gas dropped sharply last year…
EQT beats quarterly profit estimates on strong natural gas prices, sales volumes
The U.S. energy company EQT Corp. beat Wall Street expectations for the third-quarter profits on Tuesday. This was due to higher natural gas prices as well as sales volumes. Following the results, shares of the company increased by 1.9% on extended trading. According to the Energy Information Administration’s Short-Term Energy Outlook, both demand and production of natural gas in the United States are expected to reach record levels by 2025.
Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the first time in 3 weeks.
Baker Hughes, a leading energy services company, said that the U.S. added oil and gas rigs this week for the first time since three weeks. The number of oil and gas rigs, a good indicator of future production, increased by one in the week ending October 17. Baker Hughes reported that despite this week's increase in rigs the total count is still 37 rigs or 6% lower than this time last year.
North American LNG Exporters Look to Double Capacity by 2029
Liquefied natural gas exporters in the U.S. have announced plans to more than double U.S. liquefaction capacity, adding an estimated 13.9 billion cubic feet per day (Bcf/d) by 2029, the U.S. Energy Information Administration said on Thursday.The EIA cited its Liquefaction Capacity File and trade press reports for the forecast, and added that the U.S.
EIA predicts that heating US homes with electricity will cost more than it did last winter
The Energy Information Administration reported on Wednesday that U.S. homes heated by electricity primarily will spend 4% more to stay warm this winter, due to forecasts of higher power prices. The demand for electricity will likely outpace supply due to the growth of data centers, which are driving the AI boom. Also, the electrification and automation of other industries, such as transportation, should result in higher prices for American consumers.
As US onshore oil growth slows, will improved drilling boost Gulf of Mexico offshore oil production?
Analysts and consultants predict that offshore investment will continue to grow as new technology and more friendly regulations encourage investment. In recent years, the offshore oil and natural gas sector has been overshadowed by shale because it requires more upfront investment and years of construction. The entry costs for shale were lower and the returns faster, so the rapid expansion of shale led to the U.S. becoming the top oil producer in the world. The U.S.
Baker Hughes reports that US drillers have cut back on oil and gas drilling for the first time in six weeks.
Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies have reduced the number of oil rigs in operation this week, the first time in six weeks. The number of oil and gas rigs, a good indicator of future production, dropped by two in the week ending October 10 to 547. Baker Hughes reported that the total number of rigs is down 39, or 7% from this time last.
Baker Hughes reports that US oil and gas drillers have cut back on rigs in the US for the first time in six-weeks.
Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies have reduced the number of oil rigs in operation for the first time in six weeks. The number of oil and gas rigs, a good indicator of future production, dropped by two in the week ending October 10. Baker Hughes reported that oil rigs dropped by four this week to 418, while gas-rigs increased by two to 120 – their highest level since August.
ARM Energy to Invest $2.3b in Mustang Express Pipeline
ARM Energy Holdings said on Thursday it has reached a final investment decision on its $2.3 billion Mustang Express Pipeline project in Texas, along with its partner Pacific Investment Management Company.ARM, an energy marketing firm, said the project benefits from a long-term agreement with Sempra for shipment of natural gas for its Port Arthur LNG Phase 2 project, which recently achieved its own final investment decision.Earlier this month…
US crude stockpiles rise, fuel inventories fall, EIA says
The Energy Information Administration reported on Wednesday that U.S. crude stockpiles increased while gasoline and distillate stocks fell. The EIA reported that crude inventories increased by 3.7 millions barrels, to 420.3million barrels for the week ending October 3. This was a far cry from the 1.9 million barrels analysts had predicted in a recent poll. The EIA reported that crude stocks at Cushing, Oklahoma's delivery hub, fell by 763,000 barges in a week. The U.S.