Seems like just yesterday it was year-end and Q1 reporting season. But time flies in the public company world. EnerCom, Inc. has compiled second quarter earnings per share, revenue, EBITDA and cash flow per share analyst consensus estimates on 110 E&P and 81 OilService companies in our database. Download EnerCom’s full chart of estimates. The median OilServices company earnings estimate
1,854 MMcf/d produced in May The North Dakota Industrial Commission released its latest Oil and Gas Production Report today, outlining hydrocarbon activity in the state for May 2017. 13,876 wells producing The NDIC reported that oil production fell in May, averaging 1,040 MBOPD. This is down slightly from the 1,050 MBOPD produced in North Dakota in April. 95% of all
4-week average imports down 30% from May U.S. imports of oil from Saudi Arabia are falling fast, as the kingdom seeks a new way to prop up disappointing oil prices. One of the main stated goals of OPEC’s production cuts is to decrease global inventories, which are still well above historical averages. These large inventories weigh heavily on oil prices,
Permian grows to 373 rigs The U.S. rig count was unchanged this week, seemingly signaling a response to lowering oil prices, according to Baker Hughes’ Weekly Rig Count. The total number of rigs active in the U.S. is still 952, the same as last week. However, one land rig came online and one inland waters rig shut down, giving a
From Bloomberg OPEC would hurt itself and help U.S. shale producers if it adopted deeper cuts, the former oil minister of Qatar warned. “It’s not beneficial for OPEC to deepen their cuts because prices will go up and shale oil producers and others will take OPEC’s market share,” Abdullah al-Attiyah said in interview in Istanbul. “The problem is that there
Mexico’s continuing oil and gas reform: 21 of 24 onshore oil and gas blocks auctioned off in Round 2.3 The winners of the Mexican Energy Reform Onshore Bid Round 2.3 were announced today. Of the 24 blocks available through the most recent auction, 21 were sold to investors from North America and Asia, which Mexico’s oil and gas regulator CNH
Compliance falls below 100% OPEC’s grip on the oil market seems to be slipping away, as its newest Monthly Oil Market Report shows production rising, despite cuts. In its MOMR, OPEC gives two sources of production, levels directly reported by companies and levels reported by secondary sources such as Platts. Each country’s directly reported values are not considered reliable, though,
1.4 billion barrel discovery at 11,000 feet – en route to 14,000 Sierra Oil & Gas, Talos Energy and Premier Oil (ticker: PMO) have announced the discovery of a massive oil field in offshore Mexico, with more than 1 billion barrels of oil recoverable. According to the Financial Times, this is the fifth-largest oil discovery in the world in the
Halcon Resources sells operated Williston assets for $1.4 billion Houston-based Halcon Resources Corp. (ticker: HK) announced Tuesday that the company sold its operated assets in the Willison Basin to an affiliate of Bruin E&P Partners, a portfolio company of Arclight Capital Partners, for $1.4 billion in cash. The company said it will keep its non-operated assets in the basin, although
From Bloomberg The biggest oil traders feeling the squeeze in a world awash with crude are seeking an edge by offering tailor-made cargoes in an offshore megastore. By selling bespoke from a fleet of ships anchored off Singapore and Malaysia, the likes of Vitol Group, Trafigura Group, Glencore Plc and Gunvor Group are seeking to lure buyers who are becoming more demanding. With
From Bloomberg Halliburton Co. expects that the worst crude crash in a generation will lead to a spike in oil prices by 2020. Tumbling oil prices brought on by a glut of global oil has forced the industry to slash about $2 trillion in investments, according to the world’s biggest fracking provider. Those cuts will weigh heavily on the market
When it published the results of its Q2 survey of energy executives, the Federal Reserve Bank of Dallas included a comment from one oil and gas exec that defines the overall effect of the shale boom on global oil prices: “The exploration and production industry needs to get used to the paradigm that oil prices will be set for the
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