Earnings Highlights BKR, CNX

1/30/25

Baker Hughes (BKR)
The company’s results are benefiting from strong execution, sharpened commercial focus, and improved productivity gains.  As part of a master equipment supply agreement, Baker Hughes received a major contract to provide a modularized LNG system and power island to Venture Global. Baker Hughes also received a GTE award to supply eight main refrigeration compressors and eight expander compressors across two LNG trains for a nameplate capacity of approximately 11 million ton per annum (1.47 Bcf/d) for Phase 1 of Woodside Energy's Louisiana project.

CNX Resources (CNX)
The company’s Q4 2024 natural gas production was roughly in line with original guidance.  Capital expenditures for CNX Resources will be heavily weighted towards the first half of 2025.  The company intends to hold production flat from 2024 levels.  If natural gas prices hold at current levels or go higher, the company will increase activity and raise production volumes. However, CNX Resources said it’s too early to tell at this point. For 2025, the company’s operations will focus on two key areas: executing a highly efficient maintenance of production capital program and maintaining flat YOY CNX legacy volumes.