Story by Business Insider As oil prices have plunged, US gas demand has soared, something that seemed unlikely just a few years ago. According to Morgan Downey, CEO of Money.net, “A few years ago people were saying that US oil demand had peaked and would never recover — some called it ‘peak demand.’” In an email to Business Insider, Downey said the
House greenlights Keystone, Nebraska Supreme Court lets legislation allowing pipeline stand With the House of Representatives passing legislation on TransCanada’s (ticker: TRP) Keystone XL pipeline for the tenth time in three years, and the Nebraska Supreme Court removing legal roadblocks to the pipeline, the stage is now set for a vote on a similar Keystone bill in the Senate. The measure passed with
Hell no, I do not want to relive 1986! Yesterday a client said, “It feels like 1986.” We haven’t heard that since 1986, and that year was a pivotal one. The United Kingdom and France announced plans to construct the Channel Tunnel The Space Shuttle Challenger disintegrated shortly after launch Halley’s Comet made its second visit to our solar system
Canada’s stock market is up on stronger U.S. numbers, oil prices Canada’s TSX stock market continued its rise today after falling earlier this week thanks to positive U.S. economic data and firmer oil prices. Some oil companies are beginning to rebound from sharp falls as well as the TSX makes a comeback. The market made a 1.2% rally today as
“LNG Permitting Certainty and Transparency Act” set to expedite LNG exports Senators John Barrasso (R-WY) and Martin Heinrich (D-NM) introduced a bipartisan bill to Congress this week that will help to speed up approval times for liquid natural gas (LNG) exports to countries that do not have a free trade agreement with the U.S. The legislation specifically requires the Secretary
Halcon Resources Corporation (HK) (“Halcon” or the “Company”) today announced additional reductions to its 2015 drilling and completion budget. Halcon’s drilling and completions budget for 2015 is $375 – 425 million. Capital will be directed towards locations in the Fort Berthold area of the Williston Basin and El Halcon in East Texas. In addition, the Company expects to spend approximately
SandRidge Energy, Inc. (the “Company”) (SD) today announced financial results for the quarter that ended September 30, 2014. The Company also filed restated results for quarterly periods in 2013 and 2014. Eddie LeBlanc, SandRidge’s Chief Financial Officer and Executive Vice-President, commented, “Today’s release of financial results for the third quarter of 2014 complements our November 2014 operating results press release.
Story by The Tehran Times Iran plans to extract 85,000 barrels per day of oil from Yadavaran oilfield which straddles a border with Iraq. Iran is currently extracting 50,000 bpd of oil from the field and is planning to boost the volume to 85,000 bpd by September 2015, Yadavaran oilfield development project manager Hadi Nazarpour stated. Iran started the early
Story by Reuters The White House does not feel pressure to loosen restrictions on U.S. oil exports further and views debate over the issue as resolved for now, John Podesta, a top aide to President Barack Obama, told Reuters in an interview. The drop in oil prices and the Commerce Department’s move to allow companies to ship as much as
NATURAL GAS INVENTORY (Week Ended 1/2/15) Current: 3,089 Bcf Actual Injection/(Withdrawal): (131) Bcf Economist Average Estimate: (121) Bcf Previous: 3,220 Bcf Click here for the chart with five year averages. Click here for an archive of EnerCom’s Inventory Reports. ANALYST COMMENTARY KLR Group Storage overview The EIA reported a 131 Bcf storage draw, 6 Bcf above our 125 Bcf estimated draw and 12
Worsening conditions prove there is no such thing as home field advantage Production in the Permian Basin was impacted this last week due to freezing rain and temperatures dropping into single digits, according to news releases from Energen (ticker: EGN) and Pioneer Natural Resources (ticker: PXD). Reuters reports Apache Corp. (ticker: APA) was also affected by the adverse conditions which
Source: EIA Effects from the oil price slide are being celebrated by the average American consumer. AAA reports Americans may save as much as $75 billion in fuel costs in 2015, or $550 per household, which amounts to the lowest in more than a decade. Oxford Economics projects United States GDP will increase by roughly 0.7% in the new oil
