Commodity Pricing

Source: XOM

Quantum Energy Commits to 40 MBOPD Refinery as Downstream Enjoys Stronger Margins

Partnership with Native Son Holdings set to build refinery in North Dakota

Quantum Energy (ticker: QEGY) and Native Son Holdings announced that they plan to form a joint venture in order to construct and operate a 40,000 barrel per day …

July 28, 2015 - 2:07 pm Commodity Pricing, Downstream, Oil and Gas 360 Articles
Source: theiet.org

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 …

Watching Oil Prices: Last Monday’s Drop was One in Two-Thousand

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 …

July 13, 2015 - 1:30 pm Commodity Pricing, Oil and Gas 360 Articles
EIA: Natural Gas will Return to Growth Stride in July

EIA: Natural Gas will Return to Growth Stride in July

On a month-over-month comparison, few changes stood out in the Energy Information Administration’s (EIA) Short Term Energy Outlook (STEO) for July 2015. Oil price projections are relatively consistent, and 2015 production was even revised upward by 0.1 MMBOPD.

The declines …

WTI Oil Prices Suffer Largest Single-Day Drop Since February

Oil prices break the 100-day moving average

Both Brent crude and West Texas Intermediate (WTI) saw a sharp fall on July 6, 2015, resulting from a variety of negative factors. WTI closed at $52.71, a 7.5% drop, while Brent tumbled …

July 6, 2015 - 5:41 pm Commodity Pricing, Oil and Gas 360 Articles
Oil Rig Counts Climb for first time in 29 Weeks

Oil Rig Counts Climb for first time in 29 Weeks

Baker Hughes (ticker: BHI) released its weekly rig count tally on Thursday, July 2 – one day earlier than normal in consideration of the July 4th Independence Day holiday. The United States added three rigs to its fleet in …

July 2, 2015 - 6:14 pm Commodity Pricing, Oil and Gas 360 Articles
Murkowski Report Suggests Using Executive Power to End Oil Export Ban

Murkowski Report Suggests Using Executive Power to End Oil Export Ban

Senate Committee on Energy & Natural Resources: exempt allies from export ban 

Senator Lisa Murkowski (R-AK) has been a vocal proponent of lifting the U.S. crude export ban during her time as head of the Senate Committee on Energy & …

Chart of the Week: Crude Oil Inventories Steadily Retreating

Chart of the Week: Crude Oil Inventories Steadily Retreating

UntitledBut oil trades lower

Crude oil inventories dropped for the eighth straight week in the Energy Information Administration’s Weekly Petroleum Status Report for the week ended June 19, 2015.

Inventories peaked at 490,912 MBO in the last week of April, …

Brent/WTI Oil Price Spread at Five Month Low

Brent/WTI Oil Price Spread at Five Month Low

The price of West Texas Intermediate (WTI) closed at a discount of $3.09 to Brent on June 19, 2015. The gap is the lowest in five months, when the spread narrowed to $2.76 at the closing of January 21.

WTI …

June 19, 2015 - 7:00 pm Commodity Pricing, Oil and Gas 360 Articles
Free Falling Prices for Goods and Services in Oilfields

Free Falling Prices for Goods and Services in Oilfields

Extraction pricing feeling the most pressure

The decision by E&P companies to cut capital expenditures and increase efficiencies following the dramatic fall in oil prices put downward pressure on other sectors of the oil and gas industry.

The Bureau of …

Source: Gassco Karsto Pipes

IEA Expects More Global Demand Growth in 2015

Demand to edge up as some production goes offline in 2015

The International Energy Agency (IEA) released its monthly Oil Market Report (OMR) for the month of June today, projecting stronger than anticipated global demand growth through 2015. Global demand …

June 11, 2015 - 5:24 pm Commodity Pricing, Oil and Gas 360 Articles
BP Says U.S. Becomes World’s Top Hydrocarbon Producer

BP Says U.S. Becomes World’s Top Hydrocarbon Producer

The shifting landscape of global energy

2014 marked the beginning of a new era in the oil and gas industry, said Bob Dudley, Group Chief Executive for BP’s (ticker: BP) 2015 Statistical Review of World Energy. Price volatility is …

June 11, 2015 - 4:47 pm Commodity Pricing, Oil and Gas 360 Articles
Crude Oil Inventories See Largest Draw in 11 Months

Crude Oil Inventories See Largest Draw in 11 Months

Six Straight Weeks of Decline

The Department of Energy reported a draw of (6,812) MBO from United States crude oil inventories for the week ended June 5, 2015, marking the largest draw of the year and the most since the …

June 10, 2015 - 6:49 pm Commodity Pricing, Oil and Gas 360 Articles
EIA: WTI to Average $56 per Barrel in 2015

EIA: WTI to Average $56 per Barrel in 2015

West Texas Intermediate is expected to average $5 less than Brent for 2015-2016chart

The Energy Information Administration (EIA) released its Short Term Energy Outlook (STEO) for the month of May, showing prices for both Brent and West Texas Intermediate …

June 9, 2015 - 4:08 pm Commodity Pricing, Oil and Gas 360 Articles
OPEC: Too Close to Call - Oil & Gas 360

No Surprises from OPEC

The 12 country cartel decides to maintain production—as expected

As many experts predicted, OPEC decided to maintain its production ceiling at 30 million barrels per day (MMBOPD) at its June 5 meeting held in Vienna Austria. Brent and West Texas …

Is Canada’s Crude Stored at Cushing Driving Down WTI?

Is Canada’s Crude Stored at Cushing Driving Down WTI?

Cushing, Oklahoma, is the delivery point for United States West Texas Intermediate crude oil (WTI) traded on the New York Mercantile Exchange (NYMEX) and plays a large part in setting the price of crude oil in the U.S.

Storage at …

Source: Energy.gov

Natural Gas Replacing Coal Nationwide

The EIA’s Electricity Monthly Update shows increased use of natural gas across the U.S.

Electricity generation from coal decreased in all regions of the country in March compared to the previous year, while electricity generation from natural gas increased in …

May 28, 2015 - 2:17 pm Commodity Pricing, Oil and Gas 360 Articles
Oil Price Witches’ Brew

Oil Price Witches’ Brew

May’s uncanny price stability, Iraq production growth, OPEC’s unknowns and shale’s “Fracklog” all competing for visibility in global petroleum’s crystal ball

West Texas Intermediate (WTI) oil prices have ranged from $57.26 to $60.93 for the entire month of May, offering …

May 27, 2015 - 3:32 pm Commodity Pricing, Oil and Gas 360 Articles, Popular
OPEC Basket Price Falls More Than a Dollar in a Week

OPEC Basket Price Falls More Than a Dollar in a Week

OPEC expects basket price to fall for third straight week

The price of OPEC’s basket of twelve crudes stood at $60.73 per barrel today, down $1.30 from just a week ago when the basket sold for $62.03, according to information

May 27, 2015 - 12:49 pm Commodity Pricing, Oil and Gas 360 Articles, OPEC
Crude Oil Prices About to Head South, Says Goldman Sachs

Crude Oil Prices About to Head South, Says Goldman Sachs

Crude oil prices are trending along six month highs, prompting relief and optimism for the weary oil and gas industry. West Texas Intermediate seems to have stabilized around $60 for the time being, but not till after rig counts plunged …

May 22, 2015 - 1:09 pm Commodity Pricing, Finance, Oil and Gas 360 Articles
Natural Gas Breaks $3 but Could Fall Again Soon

Natural Gas Breaks $3 but Could Fall Again Soon

Prices up on EIA report

Natural gas prices climbed above $3.00 per MMBtu yesterday for the first time since mid-January. Natural gas prices jumped about 4.1% to as high as $3.02 Thursday, following the release of the Energy Information Administration’s …

May 15, 2015 - 6:30 pm Commodity Pricing, Oil and Gas 360 Articles
Crude Prices Trending Back Up, but for How Long?

Crude Prices Trending Back Up, but for How Long?

After 17 straight weeks of builds, Cushing sees a draw on crude inventories

Global oversupply has prompted companies to sell production volumes on the future strip prices, pushing their production into storage hubs like Cushing, Oklahoma. Since the beginning of …

May 6, 2015 - 3:11 pm Commodity Pricing, Oil and Gas 360 Articles, Popular
Frac Sands Feeling Pressure

Frac Sands Feeling Pressure

Frac sand companies could continue to feel strain even if oil makes a recovery

Every corner of the oil and gas industry has felt the effects of lower commodity prices since prices fell off drastically November of last year. Even …

April 27, 2015 - 6:59 pm Commodity Pricing, Fracing, Oil and Gas 360 Articles
2015: Coal v. Natural Gas

2015: Coal v. Natural Gas

Could a drop in natural gas prices spur additional market share growth?

As we swing into spring earnings season, Q1 earnings are coming fast, along with questions surrounding the state of natural gas and oil prices.

In a non-oil and …

April 23, 2015 - 5:27 pm Commodity Pricing, Oil and Gas 360 Articles, Popular
Chart of the Week: How much do States Rely on Severance Taxes?

Chart of the Week: How much do States Rely on Severance Taxes?

$16.7 billion in 2013

Tax season is nearing a close for Americans, and earnings season is just around the corner for oil and gas companies preparing their quarterly results. E&Ps and service providers have felt the impact from the oil …

Bam! Earnings Season Again – Q1 2015 Estimates

Bam! Earnings Season Again – Q1 2015 Estimates

EnerCom, Inc. compiled first quarter earnings per share, revenue, EBITDA and cash flow per share analyst consensus estimates on 200 E&P and OilService companies in our database.

Click here for the full chart of estimates.

The median OilServices company earnings …

EIA Reference Case:  Brent Prices will Stay Below $100 through 2028

EIA Reference Case: Brent Prices will Stay Below $100 through 2028

Government Energy Arm Releases 2015 Annual Energy Outlook

The Energy Information Administration (EIA) released various energy-related projections through the year 2040 in its yearly release of the Annual Energy Outlook (AEO). In the 2015 edition, the EIA made five rather …

Oil Prices Down on Saudi Production Record, Huge Inventory Build

Oil Prices Down on Saudi Production Record, Huge Inventory Build

OPEC’s largest producer hit a 12-year production record last month

Saudi Arabia increased oil production to 10.3 MMBOPD in March, setting a 12-year high for production in the country. Saudi Oil Minister Ali al-Naimi said the Kingdom will continue producing …

Appalachia Production is Red Hot, but the Henry Hub is Still King

Appalachia Production is Red Hot, but the Henry Hub is Still King

The meteoric production rise of the Marcellus and Utica Shales has shifted the playing field of the natural gas market and changed the United States energy landscape. While the recent commodity swing has finally forced U.S. oil production to least

April 7, 2015 - 6:57 pm Commodity Pricing, Fracing, LNG, Oil and Gas 360 Articles
Chart of the Week: Rig Counts and Commodity Prices

Chart of the Week: Rig Counts and Commodity Prices

COtW Oil Rigs and Prices

COtW Gas Rig Counts and Prices

In this week’s Oil & Gas 360®’s chart of the week, we compare the number of oil and gas rigs during the 2008 economic downturn and today’s low commodity environment. The price used for WTI is the annual average of …