Capital Markets

Source: Houston Chronicle

Phillips 66 profit cut by more than half in 4th quarter

Houston Chronicle


Houston refining and pipeline company Phillips 66 on Friday reported a $689 million fourth-quarter profit, 51 percent less than the same period in 2018.

The fourth quarter performance resulted in Phillips 66 closing 2019 with a nearly $3.7 …

Source: CNBC

Chevron posts $6.6 billion loss in the fourth quarter

CNBC


Chevron on Friday posted a $6.6 billion loss in the fourth quarter due to $10.4 billion worth of write-offs related to shale gas production in Appalachia and deep-water projects in the Gulf of Mexico. In December, the company warned

Source: murphyoilcorp.com

Murphy Oil Corporation announces fourth quarter and full year 2019 results, 2020 guidance

Oil and Gas 360


EL DORADO, Ark.

Achieved 172% Organic Reserve Replacement

Signed Memorandum of Understanding for King’s Quay Floating Production System

Murphy Oil Corporation (NYSE: MUR) today announced its financial and operating results for the fourth quarter ended December

Source: Reuters

Church of England pension fund shifts $789 million to climate index

Reuters


LONDON – The Church of England’s pension fund has shifted 600 million pounds ($789 million) into a new equity index that invests in companies deemed to be making progress towards the targets of the Paris climate agreement.

The index, …

In the game of consolidation, there are predators and there are prey.

In the game of consolidation, there are predators and there are prey.

Oil & Gas 360 Publishers Note: Often I am presented with industry insights, and opinions, that may be helpful to our readers. This particular opinion written by David Ramsden-Wood has some interesting discussion points. So the question isn’t “should you

Source: CNBC

Oil rises 1%, snapping 5-day losing streak

CNBC


Oil futures rose 1% Tuesday after a five-day losing streak as OPEC sources said the group and its allies might tighten the market amid fears that the coronavirus, which has claimed over 100 lives in China, could weigh on

Source: CNBC

The sell-off in oil isn’t ‘entirely comparable’ to what happened with SARS, says CEO

CNBC


There’s a “bear stampede” in the oil market as a new coronavirus spreads, but that may not be directly comparable to the sell-off in 2003 associated with the outbreak of severe acute respiratory syndrome (SARS), according to an energy

Source: Reuters

Carlyle looking at ‘relatively cheap’ energy assets: Rubenstein

Reuters


Fears about the future of energy assets have led to a sell-off, but this has created “very good opportunities” for the Carlyle Group, its founder, David Rubenstein, said on Thursday.

Rubenstein, co-executive chairman of the private equity (PE) giant, …

Source: CNBC

Bank of America CEO says clients want to invest in companies ‘doing right by society’

CNBC


Bank of America CEO Brian Moynihan says money will keeping flowing to environment, social and governance funds (ESG) as more investors send the message that they want to own companies with a mission that aligns profits with broader social

Source: Reuters

Column: Hedge funds sell oil as doubts about economy resurface

Reuters


LONDON – Hedge funds turned heavy sellers of petroleum last week as the threat of conflict in the Middle East receded and was replaced by renewed concerns about the health of the global economy.

Hedge funds and other money …

Source: CNBC

Citi explains why there’s an ‘ultimate cap’ on oil prices

CNBC


The cost of producing electricity from solar energy has in the last two years been lower than that of fossil fuels — and that “permanent change” will limit how high oil prices can climb, according to Citi.

That shift is …

Source: Houston Chronicle

A sector in disarray’: Oil majors live beyond their means on investor payouts, study finds

Houston Chronicle


The largest oil and gas companies for years have lived beyond their means and paid more money to investors than they can reasonably afford, according to a new report.

The study from the Cleveland-based Institute for Energy Economics …

Source: Houston Chronicle

Peak Permian oil output is closer than you think, investor says

Houston Chronicle


Such is the extent of the shakeout in the U.S. shale industry that Permian Basin oil production is closer to peaking than many forecasts suggest, according to one energy investor.

Adam Waterous, who runs Waterous Energy Fund, regards …

Source: CNBC

Energy markets are in transition, and investors are retreating. Here’s why

CNBC


While the stock market has boomed, energy stocks have not. Indeed, they have been the worst-performing sector over the last decade. Moreover, energy has dropped from 15% in 1990 to only 5% of the S&P 500 sector weightings in …

The real price of Occidental’s ‘costless’ oil hedge

The real price of Occidental’s ‘costless’ oil hedge

Reuters


In just 12 days, Occidental Petroleum Corp pulled off one of the biggest hedges against falling oil prices ever placed by a U.S. energy company. It characterized the transaction as “costless” but a Reuters review of regulatory filings, market …

Source: Forbes

Oil Markets Prove Resilient In Aftermath Of Iran Attacks – For Now

Forbes


Markets responded positively to President Donald Trump’s January 8 address in the wake of Iranian rocket attacks against Iraqi bases housing US troops, with traders interpreting his overtures for peace and cooperation with the Islamic Republic as a sign …

Source: Reuters

Oil price spike clouds U.S. corporate profit outlook, puts investors on edge

Reuters


NEW YORK  – Investors are worrying that rising energy costs due to an escalating conflict between the United States and Iran that has caused a spike in oil prices will hurt U.S. corporate earnings.

Oil prices briefly jumped to …

Source: CNBC

Biggest ‘black swan’ event for oil markets is disruption in the Strait of Hormuz, expert says

CNBC


The biggest black swan event in the oil market is a disruption to the most critical chokepoint in the Middle East, according to an analyst from S&P Global Platts.

“The market is extremely exposed to any disruption to vessel …

Energy Transfer Operating, L.P. announces pricing of concurrent offerings of $4.5 billion of senior notes and $1.6 billion of preferred units

Energy Transfer Operating, L.P. announces pricing of concurrent offerings of $4.5 billion of senior notes and $1.6 billion of preferred units

Oil and Gas 360


DALLAS – Energy Transfer Operating, L.P. (formerly, Energy Transfer Partners, L.P., and a subsidiary of Energy Transfer LP) (“ETO”) today announced that it has priced an underwritten public offering of $1.0 billion aggregate principal amount …

January 8, 2020 - 1:30 pm Capital Markets, Closing Bell Story‎, Energy News, Finance
Nabors Prices $1 Billion in senior guaranteed notes offering

Nabors Prices $1 Billion in senior guaranteed notes offering

360 Feed Wire 


The notes will be offered and sold to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”)

Nabors Announces offering of senior guaranteed notes - oilandgas360HAMILTON, BermudaJan. 7, 2020 /PRNewswire/ -Nabors Industries Ltd. …

Source: Houston Chronicle

Goldman says oil rally likely shortlived unless supply disrupted

Houston Chronicle


A flare-up in U.S.-Iran tension may be keeping oil elevated, but an actual disruption to global crude supplies is needed to keep prices at current levels, according to Goldman Sachs Group Inc.

Price risks for Brent, which has …

Source CNBC

Oil prices ‘could make a run at $80’ if US-Iran conflict intensifies, analysts say

CNBC


Oil prices could surge toward $80 a barrel if escalating geopolitical tensions disrupt Middle East crude supplies, analysts told CNBC on Friday, with energy market participants “on tenterhooks” after a U.S. airstrike killed key Iranian and Iraqi military personnel.…

Source: Reuters

U.S. shale producers to tap brakes in 2020 after years of rapid growth

Reuters


HOUSTON – Vastly slower U.S. oil growth this year and the prospect of a plateau for the world’s top oil producer have signaled a new and unfamiliar era of self-restraint for the go-go shale industry.

Spending cuts and production …

Source: Reuters

Oil analysts bet on modest price gains in 2020 as supply shrinks

Reuters


Oil prices are likely to hover around $63 a barrel next year, a Reuters poll showed on Tuesday, benefiting from deeper production cuts by OPEC and its allies, and hopes that a U.S.-China trade deal could jumpstart economic growth.…

Source: Houston Chronicle

McDermott stock plummets amid rumored bankruptcy talks

Houston Chronicle


Rumors that Houston oilfield service company McDermott International is engaged in bankruptcy talks with lenders sent the company’s stock price plummeting by as much as two-thirds of its value after the close of market on Monday.

In a …

Oil surges nearly 35% in 2019 and hedge funds are betting on more gains next year

Oil surges nearly 35% in 2019 and hedge funds are betting on more gains next year

CNBC


West Texas Intermediate crude futures have rallied 13% this quarter and nearly 35% this year, putting oil on track to post its best annual performance since 2016. And now big investors are starting to get on board with the …

December 31, 2019 - 10:15 am Capital Markets, Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Oil hits three-month high on upbeat data, Middle East tension

Reuters


NEW YORK – Oil prices rose on Monday to three-month highs, lifted by optimism over an expected China-U.S. trade deal and upbeat industrial data, while traders kept a close watch on the Middle East following U.S. air strikes in …

Source: Reuters

Oil price rise muted in 2019 despite sanctions, supply cuts, attack in Saudi Arabia

Reuters


NEW YORK/SINGAPORE – Oil prices rose more than 20% this year but there were no sharp spikes and crude futures barely sniffed $70 a barrel despite attacks on the world’s biggest oil producer, sanctions that crippled crude exports of …

Source: Reuters

U.S. energy shareholders seek to leave behind a lost decade

Reuters


NEW YORK – The 2010s was a lost decade for shares of U.S. energy companies overall. Volatile commodity prices amid growing supply, poor financial performance and disfavor from some investor groups all contributed to the energy sector’s transformation from …

December 27, 2019 - 2:00 pm Capital Markets, Closing Bell Story‎, Energy News
Source: Reuters

Oil hovers near three-month highs on trade progress, lower inventories

Reuters


LONDON – Oil prices hovered near three-month peaks on Thursday, buoyed by falling U.S. crude inventories and thawing trade relations between the United States and China.

Brent crude futures were up 19 cents at $66.36 a barrel at 1447 …