Crude Oil News

Two Iranian Oil Tankers Head Westward

From Argus

Two Iranian very large crude carriers (VLCCs), belonging to state-owned NITC, are heading west from Europe across the Atlantic ocean.

The VLCC the Huge unloaded around 2.1mn bl of crude at the Shell oil terminal in Rotterdam and …

February 15, 2017 - 11:06 am Closing Bell Story‎, Crude Oil News, Energy News

Oil Price Fails to Make Big Gains Despite Opec Cuts

Trading remains stuck in mid-$50s despite output falling 890,000 barrels a day

From The Week UK

The oil price has failed to break out of its mid-$50s range, despite data from the powerful Opec cartel showing its members are sticking …

Iraq Oil Output to Decline in March

From The Oil & Gas Year

Iraq, OPEC’s second-biggest supplier, is set to see oil output decline significantly in March, international media reported on Monday. It is unclear whether this is the result of unforeseen circumstances or a direct push …

February 15, 2017 - 7:27 am Closing Bell Story‎, Crude Oil News, Energy News
EnerCom Dallas investment conference

What’s not to Love? EnerCom Dallas Showcases Oil Producers in Southeastern Europe, U.S., Canada, South America

Strong EnerCom Dallas conference registrations point to 2017 energy sector uptick

EnerCom Dallas, EnerCom’s Texas-based oil and gas investment conference, will bring together a slate of upstream producers and oilfield technology innovators working in key global oil and gas jurisdictions. …

BetaZi Puts Big Data to Work for Oil & Gas Evaluations

BetaZi Puts Big Data to Work for Oil & Gas Evaluations

Energy producers, banks can solve “massive problems, wicked fast”

“BetaZi™ products allow our customers to correctly solve massive problems, wicked fast.” That’s how BetaZi™ CEO Janette Conradson put what her company does, talking to Oil & Gas 360® this week.…

The Capital Markets are Open to Oil & Gas: PLS

The Capital Markets are Open to Oil & Gas: PLS

PLS Capitalize™ Report: Oil & gas industry raised $186 Billion through U.S. public offerings in 2016; PLS predicts surge in M&A activity in 2017

Houston’s oil and gas research firm PLS Inc. provided the following statistical review of capital markets …

Noble Energy Announces 63% Year-over-Year Increase in Capital Budget

Noble Energy Announces 63% Year-over-Year Increase in Capital Budget

Noble Energy announces $2.3-$2.6 billion budget with a focus on liquids in the DJ, Delaware and Eagle Ford

Houston-based Noble Energy (ticker: NBL) announced the company’s capital guidance for the year, stating that the company plans to increase its spending …

Earthstone Energy Likes Midland Basin Opportunities

Earthstone Energy Likes Midland Basin Opportunities

EarthStone Energy plans to grow production 200% to 400% on acquired Midland assets in 2017

With 2016 in the books and many companies reporting their year-end numbers, markets are beginning to look forward to the year ahead. A stable oil …

Pioneer Natural Resources: 2016 Production Jumps 15% from Spraberry/Wolfcamp Hz Drilling

Pioneer Natural Resources: 2016 Production Jumps 15% from Spraberry/Wolfcamp Hz Drilling

Pioneer expects to place ~260 horizontal wells on production in 2017

Pioneer Natural Resources: 2016 Production Jumps 15% from Spraberry/Wolfcamp Hz Drilling

  • Pioneer produced 234 MBOEPD in 2016, up 15% from prior year

  • One of the best years in Pioneer’s 20-year history: Dove

  • Exported 525,000 barrels of Permian basin oil in

Raging River Finds Success in Canadian Light Oil

Raging River Finds Success in Canadian Light Oil

Viking formation’s shallow light oil keeps well costs low

There are several world-class oil and gas plays in Canada. The Montney has excellent stacked play potential, and the Cardium field has been known for years. When it comes to …

Parsley Energy Makes $2.8 Billion Permian Acreage Acquisition

Parsley Energy Makes $2.8 Billion Permian Acreage Acquisition

Acquisition makes Parsley second largest publicly traded E&P in the Midland basin

Parsley Energy (ticker: PE) announced the acquisition of 71,000 net acres in the Midland basin for $2.8 billion today, increasing its Permian acreage by 45%. The acreage will …

Global Crude Inventories to Decrease in 2017: EIA

Global Crude Inventories to Decrease in 2017: EIA

U.S. oil production to grow 1 million bpd in 2018

The EIA released its monthly Short-Term Energy Outlook today, outlining predicted energy production and consumption through 2018.

The EIA revised its estimates of the 2016 crude supply build, decreasing the …

Corps of Engineers Ready to Approve Dakota Access Oil Pipeline Immediately

From The Hill

The Army Corps of Engineers will grant the final approval needed to complete the controversial Dakota Access oil pipeline within a day, it told lawmakers Tuesday.

The news from the Army Corps, in letters to Congress and …

February 7, 2017 - 3:58 pm Closing Bell Story‎, Crude Oil News, Energy News

Synergy Resources Issues Preliminary Q4, Year-End Results

Wattenberg operator Synergy Resources Corporation (ticker: SYRG)  issued preliminary  December 31, 2016 financial results.

Highlights

  • Production sales volumes for three and twelve months ended December 31, 2016 were 13,269 BOE/day (58% oil) and 11,670 BOE/day (53% oil), respectively
  • Drilling
February 7, 2017 - 3:21 pm Closing Bell Story‎, Crude Oil News, Energy News
Crude Oil, Bitumen Exports from Canada Up Almost 16%

Crude Oil, Bitumen Exports from Canada Up Almost 16%

U.S. still Canada’s biggest customer

From The Globe and Mail

Canada posted a second consecutive monthly trade surplus for the first time in more than two years in December, but booming oil exports obscured weakness in some key sectors.

The …

February 7, 2017 - 2:49 pm Canada, Crude Oil News, Energy News
Source: WPX

Contango Oil & Gas Scored Big: 12,000 Delaware Basin Acres for $5,000 per Acre

Contango Oil & Gas built a position in the hottest play in the U.S. at a fraction of the going cost

The Delaware Basin has become the U.S.A. focal point for oil and gas acquisitions over the course of the …

It’s ambitious to think that oil prices could reach $65: IEA

From CNBC:

Despite a recent OPEC agreement to cut oil production and boost prices, it is unrealistic to expect that the commodity will reach $65 a barrel in the near term, an analyst at the Paris-based International Energy Agency …

February 3, 2017 - 10:13 am Closing Bell Story‎, Crude Oil News

India’s oil minister unveils strategy to integrate state firms

From S&P Global Platts:

India is embarking on a plan to create a few integrated state oil firms by consolidating some of the existing ones, which is expected to help the firms absorb the shock of wild price fluctuations …

February 3, 2017 - 10:11 am Closing Bell Story‎, Crude Oil News, Natural Gas News

American steel companies ‘fully prepared’ to supply pipelines, US Steel CEO says

From CNBC:

United States Steel and other American manufacturers are “absolutely” prepared to produce steel for the pipelines President Donald Trump wants built, the company’s CEO told CNBC on Wednesday.

Earlier in the week, Trump reiterated his insistence that …

February 3, 2017 - 10:03 am Closing Bell Story‎, Crude Oil News, MLP News, Natural Gas News
PDC Energy Tallies 25% Reserves Growth, 44% Production Growth in 2016

PDC Energy Tallies 25% Reserves Growth, 44% Production Growth in 2016

PDC Energy year-end proved reserves reach 341.4 MMBOE, $1.7 Billion PV-10, up 25% from 2015

Denver-based PDC Energy (ticker: PDCE) released an update on the company’s year-end production estimates and reserves. The press release put out by the company Wednesday …

U.S. Oil Growth Driven by Tight Oil

U.S. Oil Growth Driven by Tight Oil

EIA Predicts Production Growth from Permian and Other Shale Plays

In a piece of news that is not a surprise to anyone who follows U.S. oil and gas, the EIA released a note this week projecting that tight oil basins …

What Does a Growth Company Look Like Following the Downcycle?

What Does a Growth Company Look Like Following the Downcycle?

Investors valued debt-adjusted growth even more in 2016

The crash in oil prices which started at the end of 2014 exposed a number of oil and gas companies that had sacrificed their balance sheet in the name of growth. Many …

Netherland Sewell: School is Back in Session

Netherland Sewell: School is Back in Session

Financial professionals are encouraged to register now for Netherland Sewell 2017 Oil & Gas Property Evaluation Seminars while seats are available

Each year since 1994, Netherland Sewell & Associates, Inc. (NSAI), one of the industry’s most highly regarded petroleum consulting …

Anadarko Reports Q4: Looks to Focus on Delaware, DJ, GOM

Anadarko Reports Q4: Looks to Focus on Delaware, DJ, GOM

Anadarko Earnings Miss On Divestitures

Anadarko Petroleum (ticker: APC) announced fourth quarter results today, showing a larger-than-predicted loss. Net loss was $515 million, or $0.94 per share, making full year results a loss of $3.07 billion, or $5.90 per share. …

Exxon Mobil: $2 Billion Rocky Mountain Dry Gas Impairment Thunks Earnings

Exxon Mobil: $2 Billion Rocky Mountain Dry Gas Impairment Thunks Earnings

Exxon Mobil will start developing Delaware basin assets in 2017

Exxon Mobil (ticker: XOM) reported fourth quarter results today, showing lower earnings than expected. Net fourth quarter earnings were $1.680 billion, or $0.405 per share. Overall 2016 earnings are $7.840 …

Shell Selling North Sea Assets to Chrysaor for $3.8 Billion

Shell Selling North Sea Assets to Chrysaor for $3.8 Billion

Deal will make Chrysaor one of the largest UK oil and gas producers 

Royal Dutch Shell (ticker: RDSA) has agreed to sell a package of UK North Sea assets to privately held UK producer Chrysaor for a total of up …

Photo: Oil & Gas 360 - Permian - Delaware Basin Action Virtually Nonstop Since Oct. 1

Permian – Delaware Basin Action Virtually Nonstop Since Oct. 1

No slowdown for the Permian

Everybody is getting into the action in the Permian basin and in the Delaware portion of the basin in particular.

Even Norway’s TGS-NOPEC Geophysical Company (ticker: TGS) has landed in the Permian. TGS announced today …

Project Slowdown in North Sea and UK Drag Down BHI Revenue, Earnings

Project Slowdown in North Sea and UK Drag Down BHI Revenue, Earnings

GE merger on schedule

Baker Hughes (ticker: BHI) reported fourth quarter earnings on Thursday, showing a wider loss than expected.

Net loss was $417 million, or ($0.98) per common share, which includes charges related to asset impairments, restructuring charges, loss …

Permian Player Jagged Peak Energy Goes Public

Permian Player Jagged Peak Energy Goes Public

Jagged Peak Energy is developing 60,000 net acres in the Southern Delaware basin

Jagged Peak Energy (ticker: JAG), made its official debut today after the pricing of its IPO on the New York Stock Exchange. Jagged Peak also launched its …

Permian Rig Count Now 60% Higher than Last Year: BHI

Permian Rig Count Now 60% Higher than Last Year: BHI

Total U.S. rig count up 18 from last week

The rig count continued to rise in the United States for the week ended January 27, 2017, according to Baker Hughes Industries (ticker: BHI). The total count now stands at 712, …