Oil and Gas 360 Articles

For the Year, U.S. Economic Growth Exceeds Five Year Average

For the Year, U.S. Economic Growth Exceeds Five Year Average

In spite of reaching only 0.7% in fourth quarter of 2015

The U.S. Bureau of Economic Analysis released the growth numbers for the U.S. economy for fourth quarter, and full-year, 2015. According to the BEA, economic growth was just …

January 29, 2016 - 6:16 pm Closing Bell Story‎, Oil and Gas 360 Articles
Source: Sweetcrudereport.com

Oil: The 30-Year Anniversary of the 1986 Collapse

The 1980s: a rough decade for cars, rock music and oil

The 1980s were a mixed up decade. Killer British-driven rock music and groundbreaking R&B artists were giving ground to wimpy, fake artists like Milli Vanilli. The era of …

Chevron: Commodity Slide Delivers Q4’15 Loss

Chevron: Commodity Slide Delivers Q4’15 Loss

CVX Expects Spending to Wind Down through 2018

The oil and gas industry is not expecting Q4’15 earnings season to be pretty, but not many expected Chevron (ticker: CVX, chevron.com), one of the world’s largest integrated oil companies, to …

Oil Rig Count Falls Below 500

Oil Rig Count Falls Below 500

Rig count sheds 3% of total

The U.S. rig count continued its trend downward in the week ended January 29, according to information from Baker Hughes (ticker: BHI, BakerHughes.com). The U.S. total rig count landed at 619, down 18 …

Blackbird Energy Takes a Big Step Towards Acreage Delineation with Successful Montney Well

Blackbird Energy Takes a Big Step Towards Acreage Delineation with Successful Montney Well

An Exclusive Interview with Garth Braun, Chairman, President and CEO of Blackbird

Blackbird Energy (ticker: BBI, www.blackbirdenergyinc.com) is in the early stages of developing its 75 sections (48,000 acres) of the Montney fairway in Alberta, but results from its …

Core Lab Continues to Outperform the Oilfield Service Sector

Core Lab Continues to Outperform the Oilfield Service Sector

Full year free cash flow represented 144% of net income in 2015

Core Laboratories (ticker: CLB, CoreLab.com) released its fourth quarter and full year 2015 results this week, proving that it is a company that can continue to outperform …

Stephens: Invest in OilService Development, Not a Recovery

Stephens: Invest in OilService Development, Not a Recovery

Buy low, sell high is perhaps the most commonly (and overly) used phrase when it comes to investing. Now that commodity prices are near the floor (depending on who you ask), investors are cherry picking stocks in hopes of capitalizing …

Energy Producers – Don’t Ever Underestimate the Environmental Activists

Energy Producers – Don’t Ever Underestimate the Environmental Activists

The warning for energy producers in Colorado came from Christopher Guith, senior vice president for policy at the U.S. Chamber of Commerce’s Institute for 21st Century Energy.

Guith’s warning was delivered during a panel discussion with a group of …

Source: WPX

Natural Gas: Growing Infrastructure Shrinks Marcellus-Henry Hub Price Gap

The spread between natural gas prices at Henry Hub and in the North East are narrowing as infrastructure increases, according to information from the Energy Information Administration. Henry Hub in Louisiana acts as the main trading point for natural …

January 27, 2016 - 6:20 pm Closing Bell Story‎, Midstream, Oil and Gas 360 Articles
KLR Group Sees Markets Rebalancing in 2017

KLR Group Sees Markets Rebalancing in 2017

OPEC production expected to stabilize

A recent analyst note from KLR Group indicated that oil and gas markets could balance in 2017 as OPEC production begins to stabilize and U.S. production rolls off. Saudi Arabia’s oil production is expected to …

2016 Budget Cuts Underway as Oil & Gas Majors Slash Billions in Capex

2016 Budget Cuts Underway as Oil & Gas Majors Slash Billions in Capex

CLR, HES, NBL, and WMB Slash Nearly $6.6 Billion in 2016 Plans

Lower year-over-year spending in 2016 was a foregone conclusion for many in the exploration and production space, but the amount of expenditure cuts is noteworthy, no matter how …

Oil Climbs Above $32 as Markets Hope for a Saudi/Russia Deal

Oil Climbs Above $32 as Markets Hope for a Saudi/Russia Deal

Russia and Saudi Arabia may be more flexible on supply – Iraqi minister

Both U.S. benchmark WTI and international benchmark Brent crude oils rose above the $32 mark today as new hope for a supply deal emerged. Iraqi Oil Minister …

Colorado Concludes Rule Making Process after 16 Months of Local Government, Environmental, Industry Interaction

Colorado Concludes Rule Making Process after 16 Months of Local Government, Environmental, Industry Interaction

COGCC passes rules that require extra considerations for “large scale” oil and gas projects

The Colorado Oil and Gas Conservation Commission (COGCC) approved rules yesterday recommended by a task force organized by Colorado Governor John Hickenlooper. The final rules came …

January 26, 2016 - 6:06 pm Closing Bell Story‎, Oil and Gas 360 Articles
Sabine Pass LNG

Cheniere Plans to Pay Off $2.8 Billion in Debt

Cheniere aims at credit due before 2020

Cheniere Energy (ticker: LNG, Cheniere.com) announced that it has engaged 13 financial institutions in order to structure and arrange senior secured credit facilities in an aggregate principal amount of up to approximately …

January 25, 2016 - 6:16 pm Closing Bell Story‎, LNG, Oil and Gas 360 Articles
Bam! It’s Earnings Season Again – Q4’15 Estimates

Bam! It’s Earnings Season Again – Q4’15 Estimates

EnerCom, Inc. compiled fourth quarter earnings per share, revenue, EBITDA and cash flow per share analyst consensus estimates on 217 E&P and OilService companies in our database.

Click here for the full chart of estimates.

The median OilServices company earnings …

Colorado Wattenberg Field: Preparing a horizontal drilling rig - Oil & Gas 360

$25 WTI in March a Popular Bet

Open interest reaches new highs

Bets that crude oil prices would fall below $25 per barrel in March reached an all-time high today.

It is impossible to say exactly where oil prices will be two months from now, but if …

Largest Natural Gas Draw of the Season Can’t Outpace Builds

Largest Natural Gas Draw of the Season Can’t Outpace Builds

Natural gas draw of 178 Bcf for the week ended January 15

The Energy Information Administration (EIA) released its natural gas data for the week ended January 15, showing a draw of 178 Bcf, bringing gas-in-storage levels to 3,297 Bcf. …

January 22, 2016 - 5:59 pm Closing Bell Story‎, Oil and Gas 360 Articles
China’s Teapot Refiners Under Scrutiny after Cancelling Import Deal

China’s Teapot Refiners Under Scrutiny after Cancelling Import Deal

More than $50 million of crude destined for Chinese teapot refiners rerouted

China is making a push to open its markets to competition and increase its crude oil refining capacity by allowing smaller “teapot” refiners to handle 1.5 MMBOBP of …

Rigs Dip Below 650 While Oil Enjoys a 5-Day V-Shaped Recovery

Rigs Dip Below 650 While Oil Enjoys a 5-Day V-Shaped Recovery

U.S. rig counts continue their downward trend

The U.S. rig count has either decreased or remained unchanged for 22 consecutive weeks now. According to information released from Baker Hughes (ticker: BHI) the U.S. rig count fell by 13 in the …

Schlumberger: “Significant Recovery” will not occur Until 2017

Schlumberger: “Significant Recovery” will not occur Until 2017

Thwarted by Oil Market, SLB Posts first Quarterly Loss in More than a Decade

Fourth quarter earnings season is officially underway, and, expectedly, Schlumberger (ticker: SLB) opened up the forum with a not-so-pleasant outlook on the oil and gas market.…

PDC Energy Builds on Reserve Base in Year-End Update

PDC Energy Builds on Reserve Base in Year-End Update

Estimates Reserve Replacement of 247%

Operational execution was the primary takeaway from PDC Energy’s (ticker: PDCE) Q3’15 results, and the progressing development of the company’s Wattenberg assets carried over into its 2015 year-end reserves update. The news release, …

$30 Oil Tests Stability Around the World

$30 Oil Tests Stability Around the World

Producing Countries are Floundering, whileTwo Big Users Soar

Crude oil is one of the most important commodities in the world, with many economies around the world depending on producing and selling oil for the bulk if not all of their …

What’s in the Cards for Clayton Williams Energy?

What’s in the Cards for Clayton Williams Energy?

Clayton Williams (ticker: CWEI) and Concho Resources (ticker: CXO) each made significant announcements regarding their respective Delaware Basin positions yesterday, including an acreage swap that is “highly beneficial to both companies,” said Mel Riggs, President of CWEI, in the company’s …

CNOOC to Cut Production and Spending

CNOOC to Cut Production and Spending

CNOOC’s 2016 plan looks to lower production for the first time in a decade

Lower oil and gas prices are forcing at least one of China’s producers to lower its production goal for 2016. In a press release Tuesday, China …

Bank of Canada Holds Interest Rate Ahead of Federal Budget

Bank of Canada Holds Interest Rate Ahead of Federal Budget

Bank of Canada holds the overnight rate at 0.5%

The Bank of Canada announced that it would continue to hold its overnight interest rate at 0.5%. Economists were split down the middle regarding whether or not the Bank of Canada …

January 20, 2016 - 5:09 pm Canada, Closing Bell Story‎, Finance, Oil and Gas 360 Articles
Spring Borrowing Base Redeterminations: a Preview

Spring Borrowing Base Redeterminations: a Preview

Haynes and Boone polled banks, producers, private equity firms, professional services and oilservice companies in January to take an early pulse of the spring redetermination expectations from the industry and the financial institutions supplying the credit.

Key findings by Haynes …

Husky Energy Cuts 2016 CapEx Guidance by 27%

Husky Energy Cuts 2016 CapEx Guidance by 27%

*Figures in Canadian dollars unless stated otherwise*

Husky Energy (ticker: HSE), one of Canada’s largest integrated energy companies, amended its 2016 guidance just six weeks after its initial release. The first line of the statement says, “Husky Energy is taking …

Source: BP Offshore Azerbaijan

Oil Could Go Lower: IEA

The IEA sees continued pressure on oil potentially pushing prices down furtherIEA OMR Jan Supply and Demand

In its first Oil Market Report of the year, the International Energy Agency painted a pessimistic picture for the outlook of oil prices. Even as the IEA expects …

Iran and its Oil: Ready to Re-Enter Global Markets

Iran and its Oil: Ready to Re-Enter Global Markets

Sanctions lifted on Iran

Iran has officially carried out all measures required to start the Joint Comprehensive Plan of Action (JCPOA) and begin the implementation of sanctions relief, according to a statement from the International Atomic Energy Agency (IAEA). Saturday, …

Oman Offers to Cut Its Production 5%-10%

Oman Offers to Cut Its Production 5%-10%

Non-OPEC producer says it’s ready to cut production, but “everyone has to do the same”

Oman became the first non-OPEC oil producer to say that it will cut its production if done in coordination with other producers. Oman’s oil minister, …