Natural Gas Roundup for the Week Ended July 10, 2015
NATURAL GAS INVENTORY (Week Ended 7/10/15)
Current: 2,767 Bcf
Actual Injection/(Withdrawal) per EIA: 99 Bcf
Economist Average Estimate per Bloomberg: 95 Bcf
Previous: 2,668 Bcf
Oil and Gas 360 Articles
Energy Transfer Partners Announces $1.94 Billion Dropdown
Energy Transfer Partners Moves Susser Holdings to Sunoco LP
Energy Transfer Partners (ticker: ETP) announced that it plans a 100% dropdown of Susser Holdings Corp. (SHC) for approximately $1.94 billion to its subsidiary Sunoco LP (ticker: SUN). In addition, there …
12 of 14 Blocks Go Unsold in Mexico’s First Oil & Gas Auction
American Majors Avoid Shallow Water Round
Mexico offered its first auction for oil and gas rights in 77 years today.
It presented a total of 14 blocks in the shallow Gulf of Mexico. A handful of bids were received but …
Sanchez Energy on the Rise in the Eagle Ford Shale
Quarter-over-quarter daily production increases by 19%, current volumes highest in company history
Increased efficiency, shorter drilling days and wells exceeding type curves prompted Sanchez Energy (ticker: SN) to upwardly revise guidance for the second straight quarter, the company said in …
Orphan Oil and Gas Wells in Alberta Quadrupled over the Past Year
Orphaned wells are growing, but strong companies are still seeing strong business in Alberta
The number of orphaned wells in Alberta has shot up over the last year as many companies struggle with lower commodity prices. Alberta’s Orphan Well Association …
Arc Logistics Enters Weld County Midstream with $76.6 Million Acquisition
Pawnee Terminal offers connection into Pony Express Pipeline to Cushing
Arc Logistics (ticker: ARCX) announced today the $76.6 million acquisition of all the limited liability company interest of UET Midstream from United Energy Trading and Hawkeye Midstream. The consideration for …
Crude by Rail Grows to 19% of the Rocky Mountains Crude Shipments, but Future Growth may be Limited
Crude by rail continues to grow alongside production in the Rocky Mountains
As crude oil production in the Rocky Mountains, Petroleum Administration for Defense District (PADD) 4, has steadily increased, so too has the use of railways to transport crude …
Crude Oil Cuttings for the Week Ended July 10, 2015
CRUDE OIL INVENTORY/’000 bbls (Week Ended 7/10/15)
Current: 461,417
Actual Build/(Withdrawal): (4,346)
Economist Average Estimate: (1,242)
Previous: 465,763
Click here for the chart with five year averages.
Click here for an archive of EnerCom’s Inventory Reports.
Important disclosures: The …
WPX Energy Adds Permian Basin to Portfolio with $2.75 Billion Acquisition
WPX Establishes Fourth Core Area
Wells Provide 30% Return at $60/barrel
WPX Energy (ticker: WPX) is moving into the most prolific oil play in the United States.
On July 14, 2015, the Tulsa-based company announced the acquisition of privately held …
United States Gasoline Prices Lowest Since 2009… Except in California
California gas prices $0.95 above national averages
Nationally, the average price of a gallon of gas is just $2.77. But the average price in California is $3.72, with average prices in the L.A. area even higher at $4.05/gal, the Automobile …
Moscow Looks to Supply Natural Gas Directly to Greece
Russian Energy Minister Alexander Novak said the two countries are looking to increase energy ties
Moscow is considering shipping natural gas directly to Greece through the Turkish Stream Pipeline, which it hopes to build across Greek territory, reports International Business …
Iran Deal Reached: Predictions on Added Crude Exports Range from 400-800 MBOPD
Opinions vary widely on how much Iranian crude will hit the market and when we can expect to see it
The much anticipated deal between Iran and the five permanent members of the U.N. Security Council, plus Germany (P5+1), was …
Dutch Government Bans Hydraulic Fracturing for Five Years
Exploration wells to be allowed with permission from the government
Dutch Minister of Economic Affairs Henk Kamp announced that the government will impose a ban on hydraulic fracturing until 2020. “No commercial exploration or extraction of shale gas will take …
OPEC Raises 2015 Oil Demand Growth Estimate to 1.28 Million Barrels per Day
OPEC sees ‘a more balanced market’ – a higher demand for its crude oil in 2016
The Organization of Petroleum Exporting Countries (OPEC) released its Oil Monthly Report (OMR) for July, predicting economic growth would continue to drive oil …
MLP of Marathon Petroleum Acquires MarkWest Energy Partners for $20 Billion
Combined Companies will Create Fourth Largest MLP
MPLX LP (ticker: MPLX), the master limited partnership (MLP) vehicle of Marathon Petroleum (ticker: MPC), has announced the oil and gas industry’s third-largest acquisition to date in 2015.
According to news releases from …
Watching Oil Prices: Last Monday’s Drop was One in Two-Thousand
Historical oil price data shows one day price drops of 7.7% or higher are relatively rare
Last Monday saw the largest drop in oil prices for West Texas Intermediate (WTI) in four months, when the U.S. crude benchmark shed …
Halliburton and Baker Hughes Agree to Extend DOJ Review in $34.6 Billion Merger Deal
Department of Justice given until November 25 to review Halliburton and Baker Hughes merger
Oilfield service giants Halliburton (ticker: HAL) and Baker Hughes (ticker: BHI) announced today that they have entered into a timing agreement with the Antitrust Division of …
Rig Counts: Canada Skyrockets, United States Adds One
North Dakota at Lowest Rig Count Since January 2010
The number of total rigs drilling in the United States rose for the third straight week, according to the most recent rig count from Baker Hughes (ticker: BHI). Total rigs drilling …
Synergy Resources: Targeting 50% Production Jump by End of August
2016 Program Fully Funded
A combination of wells waiting completion and longer laterals have Synergy Resources (ticker: SYRG) projecting to exit Q4’15 (ending August 31) with volumes of 12,000 to 13,000 BOEPD. The company announced its Q3’15 volumes (three months …
Has U.S. Oil Production Already Rolled Over?
Raymond James estimates U.S. production has been declining since March
The oil market may be tighter than many realize, according to analysis from Marshall Adkins and researchers at Raymond James. In a follow up to the research they did on …
Top Minds in the Business: Mike Howard, CEO Howard Energy Partners
Energy infrastructure is becoming increasingly important as the United States steps into the role of the world’s largest producer, pumping about 55 quadrillion Btu (about 27.5 MMBOEPD) of petroleum and natural gas in 2014. The growth of production has …
Pennsylvania Forms Task Force to Oversee Construction of 25,000 Miles of Pipeline
New task force focuses on developing Pennsylvania infrastructure responsibly
In 2014, Pennsylvania became the second largest natural gas producing state after Texas, producing over 4 trillion cubic feet of natural gas last year, according to the Energy Information Administration. …
Oil and Gas Discoveries to Date in 2015
“If I had to do it over again I would do the same thing. I love the chase. The thrill of exploration.”
–Bill Barrett, IPAMS 1993 Wildcatter of the Year, 2003 Hall of Fame Inductee
Oil and gas exploration …
Domestic Gasoline Demand Up 7.1% from Last Year
U.S. weekly crude oil output at 9.6 MMBOPD
Demand for automotive-grade gasoline (mogas) increased to 9.17 MMBOPD, a year-over-year increase of 7.1%, according to a note from Global Hunter Securities using data from the Energy Information Administration (EIA). Based on …
Turkmenistan: Gazprom Has Become an Insolvent Partner
Turkmenistan’s gas company says Gazprom has yet to pay for Turkish gas this year
An official release from Turkmenistan’s state-run Turkmengas claimed that Russia’s gas giant Gazprom (ticker: OGZPY) had “become an insolvent partner … due to the continued global …
Natural Gas Roundup for the Week Ended July 3, 2015
NATURAL GAS INVENTORY (Week Ended 7/3/15)
Current: 2,668 Bcf
Actual Injection/(Withdrawal) per EIA: 91 Bcf
Economist Average Estimate per Bloomberg: 86 Bcf
Previous: 2,577 Bcf
Legacy Reserves Gears Up with $440 Million Acquisition, Joint Venture Agreement
Legacy Enters East Texas, More Acquisitions to Follow?
Legacy Reserves LP (ticker: LGCY), a master limited partnership (MLP) with an exploration and production focus, announced significant additions to its growth plan in separate news releases on July 6, 2015.
Legacy
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Oil Prices Down Over 1% on Surprise Inventory Build
Analysts predicted draw with summer weather
Information from the Department of Energy (DOE) showed a build of 384,000 barrels of oil for the week ended July 3, 2015, surprising analysts and sending oil prices down after a slump earlier …
China Opens Six Blocks for Private Exploration Amid Market Turmoil
Remote location and complex geology remain obstacles
The Chinese government announced yesterday that it will open six oil and gas blocks for private companies to explore in the Xinjiang region in northwest China. China’s Ministry of Land and Resources said …
U.S. petroleum exports averaged 4.1 MMBOPD for the first four months of 2015
U.S. Gulf Coast Makes up 75% of Petroleum Product Exports
Roughly 75% of exported petroleum products come from the U.S. Gulf Coast, according to information from the Energy Information Administration (EIA). More than half of the country’s refining capacity is …
