How Much Borrowing Base will be Left after Redeterminations? Bankruptcy and restructuring have become prevalent words in the oil and gas industry during the present price downturn. With spring borrowing base redeterminations already under way or quickly approaching, speculation is rampant as to the extent of cuts and who will suffer the consequences when cuts are made. Oil & Gas
And the U.S. Has an Abundance of It Here’s another bit of energy upside, and it’s something for the shale gas producers to cheer about. The EIA released its 2015 power generation fuel data and natural gas was behind coal again—but just barely. At a horse race, 2015’s coal vs. natural gas race would be deemed a photo finish. But in 2016, natural gas is
New Canadian oil sands projects are more costly to shut down than continue running Despite lower oil prices, Canadian oil sands production is expected to continue growing, and be the main driver behind increased Canadian production as a whole, in the short-term. A number of projects which were already under construction in 2014 when crude oil prices collapsed will begin
Gulf of Mexico production will account for 21% of U.S. production next year Production from the Gulf of Mexico is expected to continue growing, despite the current price environment. With eight projects that came online in 2015, four expected in 2016, and two more anticipated for next year, the Energy Information Administration expects U.S. offshore production to continue playing a
Non-OPEC unconventional sources expected to provide growth in supply through 2035 The continued growth of global economies will continue to drive demand for energy around the world, according to BP’s (ticker: BP, BP.com) 2016 Energy Outlook. According to the study’s base case scenario, global GDP will more than double in the next 20 years, with energy demand growing by about
Certain crude grades from around the globe are already at or below $20 per barrel Oil and gas prices for the U.S. crude benchmark WTI, and international crude benchmark Brent, closed below $30 per barrel today, but some producers are already seeing less for their oil. The price for some grades of crude oil is already below $20 per barrel
Last week, a Saudi crown prince dropped a bombshell in an under-the-radar interview that was published in The Economist. He said that the kingdom was looking into spinning off Aramco, or some portion of it, to raise cash. Comments regarding a potential initial public offering (IPO) from the world’s largest oil company were received with shock and laughter from the
The Brent/WTI spread disappears Last Friday, Dec. 18, the United States Senate adopted the Omnibus Appropriations Act by a vote of 65-33 as did the House of Representatives by a 316-113 vote. Later that day, President Obama then signed into law the $1.1 trillion funding bill. Those actions brought an end to the 40 year old law that had banned exporting
The year over year drops in 2015 capital expenditures were significant, but apparently not significant enough. Budgets for 2016 are trickling onto the newswires, and some of the largest companies in the business are pulling back on costs yet again. Heavyweights like Chevron (ticker: CVX) and ConocoPhillips (ticker: COP) are reducing capital but abiding to their dividends; other debt-laden E&Ps
Regardless of commodities prices, oil fuels the world’s economies. In this Chart of the Week, we look at which countries are producing, consuming and exporting it. 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
Bridging the budget gap Lower commodity prices have hurt the economies of all of OPEC’s members considerably, with many of them needing to borrow money to bridge the budget gap. Libya, in particular, is expected to need large loans through the rest of the decade, with its borrowing as a percent of GDP reaching 68.15% this year, and an expectation
The price of U.S. benchmark WTI crude is becoming increasingly volatile The price of U.S. crude oil benchmark West Texas Intermediate (WTI) has been increasingly volatile since November of last year, following the decision by OPEC to maintain production over defending oil prices. The chart above shows the number of days the price of oil changed by a certain percentage
Sign up to receive daily news and stock prices from Oil & Gas 360® directly in your email inbox.
Market Data ©2020–2024 QuoteMedia. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). RT=Real-Time, EOD=End of Day, PD=Previous Day. Market Data powered by QuoteMedia. Terms of Use.
