Crude Oil ( ) Brent Crude ( ) Natural Gas ( ) S&P 500 ( ) PHLX Oil ( )

The first shipment of crude oil made by the Theo T following the end of the crude oil export ban

The first shipment of crude following the lifting of the crude oil export ban was made last week. ConocoPhillips (ticker: COP) and NuStar (ticker: NS) announced that they loaded what the companies believe to be the first export cargo of U.S.-produced light crude now that the export restrictions have been lifted.

ConocoPhillips committed to sell Eagle Ford light crude oil/condensate to international Swiss trading company Vitol aboard the Theo T. The ship is loaded with Eagle Ford Light Common Stream, a blend of processed and unprocessed lease condensate with an API gravity between 45O and 55O API, according to Argus Media.

The Theo T left NuStar’s dockside facility in Corpus Christi, Texas, where the company has been preparing to ship U.S. crude oil overseas. “We plan on further expanding our Corpus Christi operations to provide more options to our customers to move Eagle Ford Shale crude oil, whether it is being moved domestically or internationally,” said NuStar President and CEO Brad Barron.

Plans for expansions at the company’s Corpus Christi facility include a second private dock, which would give NuStar access to four loading docks, allowing it to load oil onto ships at a maximum rate of 90,000 barrels per hour.


Important disclosures: The information provided herein is believed to be reliable; however, EnerCom, Inc. makes no representation or warranty as to its completeness or accuracy. EnerCom’s conclusions are based upon information gathered from sources deemed to be reliable. This note is not intended as an offer or solicitation for the purchase or sale of any security or financial instrument of any company mentioned in this note. This note was prepared for general circulation and does not provide investment recommendations specific to individual investors. All readers of the note must make their own investment decisions based upon their specific investment objectives and financial situation utilizing their own financial advisors as they deem necessary. Investors should consider a company’s entire financial and operational structure in making any investment decisions. Past performance of any company discussed in this note should not be taken as an indication or guarantee of future results. EnerCom is a multi-disciplined management consulting services firm that regularly intends to seek business, or currently may be undertaking business, with companies covered on Oil & Gas 360®, and thereby seeks to receive compensation from these companies for its services. In addition, EnerCom, or its principals or employees, may have an economic interest in any of these companies. As a result, readers of EnerCom’s Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this note. EnerCom, or its principals or employees, may have an economic interest in any of the companies covered in this report or on Oil & Gas 360®. As a result, readers of EnerCom’s reports or Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this report.