Chart of Week

Utica Wells Producing 4.2x More than in January 2014, Beating Permian Efficiencies

Utica Wells Producing 4.2x More than in January 2014, Beating Permian Efficiencies

Despite relatively low rig activity, the Utica shows the strongest gains in production efficiency since January 2014

Baker Hughes Industries (ticker: BHI) released its weekly update on the number of rigs operating in the United States Friday, showing ten more …

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 …

U.S. Petroleum Production and Exports Will Rise through 2040: EIA

U.S. Petroleum Production and Exports Will Rise through 2040: EIA

U.S. Product Demand Will Remain Below 200 Levels But Crude Production Will Rebound

In its recently released Annual Energy Outlook 2017, the EIA outlines U.S. petroleum demand and production  prospects through 2040.

To deal with the always tricky business of …

Will Increased Oil Hedging Hold Prices Down?

Will Increased Oil Hedging Hold Prices Down?

With Physical Hedging on Rise, Production Response May Weaken

With OPEC and non-OPEC production cuts on the horizon (although not guaranteed), institutions exposed to oil have shifted their outlooks for price risk, as reflected in their current positions in NYMEX …

Seven Things to Know about the Future of Energy

Seven Things to Know about the Future of Energy

ExxonMobil sees a rosy energy future underpinned by global oil and gas demand

“Over the next several decades, we see seven key themes that will shape our energy landscape,” William Colton, ExxonMobil’s (ticker: XOM) VP of corporate strategic planning, said …

Source: Bloomberg

OPEC Cut Puts Forward Curve in Backwardation for First Time in Two Years

E&Ps Locking in Cash Flows and Sales Prices

OPEC’s agreement to cut production levels has kicked off a rush among shale oil companies to hedge their oil price risk above $50 for 2017 and 2018. The number of E&Ps selling …

Permian Tops U.S. in Production, Rig Count

Permian Tops U.S. in Production, Rig Count

Permian still on the rise

The Permian basin now holds nearly as many active oil rigs as the rest of the United States combined, including both onshore and offshore rigs, according to the EIA. The agency projects that crude oil …

Oil Production by Presidential Term

Oil Production by Presidential Term

Regardless of who is living in the White House, global demand and supply cause price movements and drive production of crude oil.

SAFE has added the presidential terms to the bars of crude oil production since the end of Dwight …

Texas oil production - Oil & Gas 360

Texas Aug. 2016 Oil & Gas Production Down almost 20% from Aug. 2015

Total oil and natural gas production per day has rolled over and started to decline in Texas, according to data recently released by the Texas Railroad Commission.

Total oil production for August 2016 was 84.8 MMbls, a six percent decrease …

Source: Company Presentations

E&Ps Implementing Variety of Hedging Strategies

Hedging programs that E&Ps have in place in 2016 vary considerably. The chart below shows the range of oil and gas production for several E&Ps covered by hedging contracts.

Pioneer Natural Resources (ticker: PXD) and Cimarex Energy (ticker: XEC) have …

Crude Oil Futures:  Who’s Long and Who’s Short?

Crude Oil Futures:  Who’s Long and Who’s Short?

A presidential commission tracks the crude oil positions that are reported each week: this week producers and processors are short, while managed money is long oil

In its Weekly Commitment of Traders Report released every Friday, the United States Commodity

Is the U.S. Government Too Big to Fail?

Is the U.S. Government Too Big to Fail?

Assets: South of $5 Trillion; Liabilities: North of $21 Trillion

In February of each year, the Government Accountability Office puts out an updated snapshot of the books, written in plain language. Since Congress is working and this is an election …

Source: EIA

U.S. Gas Production, Consumption Hits Record in 2015

The market for natural gas continues to grow as the U.S. currently produces and consumes more gas than ever before, according to EIA’s 2015 Natural Gas Annual.

Prices for consumers continue to decline, although residential pricing for heating remains highest …

DUCs Amok? Oil and Gas 360® Examines Dueling EIA and Bloomberg Backlog Data

DUCs Amok? Oil and Gas 360® Examines Dueling EIA and Bloomberg Backlog Data

Well Backlog a Critical Piece of the Puzzle as the Market Seeks to Predict what Happens in a Recovery

DUCs, or drilled but uncompleted wells, have been a major topic of discussion among analysts for more than a year. …

History Says the Right Price for Oil is $50

History Says the Right Price for Oil is $50

EnerCom Analytics’ September Industry Trends Report Examines Oil Prices

The current price of oil may feel low given the fading memories of $100 per barrel oil back in 2014. But in a longer term historical context, we are on the …

Oil Market Sentiment on Wild Ride After 2015

Oil Market Sentiment on Wild Ride After 2015

WTI Volatility Index at Elevated Levels Since Price Crash

Prior to the fall 2014 crash in oil prices, volatility in the oil markets had been on a steadily decreasing trend. An examination of futures volatility in the post-crash period, however, …

U.S. Imports from OPEC decreasing consistently since 2010

OPEC Crude Imports by U.S. Consistently Decrease, while Non-OPEC Imports Increase

Total U.S. Crude Oil Imports Decline 4% from 2010

According to the EIA, U.S. imports of crude oil from OPEC nations have been consistently decreasing since 2013. On the other hand, non-OPEC imports have been consistently increasing, driven primarily by …

September 6, 2016 - 6:29 pm Analytics, Chart of Week, Closing Bell Story‎, International, OPEC
U.S. Spent $991 Million per Day on Petroleum Products in 2015

U.S. Spent $991 Million per Day on Petroleum Products in 2015

Every day in 2015, the United States spent $991 million on petroleum consumption, the lowest daily total since 2008. Consumption levels in the U.S. have decreased slightly to 19.72 MMBoepd since peaking in 2007 at 20.94 MMBoepd.

To determine spending …

U.S. Holds More Total Oil Resources than Any Other Country According to New Estimates

U.S. Holds More Total Oil Resources than Any Other Country According to New Estimates

Data includes estimates of yet to be discovered resources

The U.S. has taken a new place atop the list of countries with the largest recoverable oil resource potential in the world. This places the U.S. ahead of Russia and Saudi …

Source: EIA

Total U.S. Energy Production Up 2% YoY, 80% from Fossil Fuels

Domestic U.S. energy production of 89 quadrillion Btu accounted for 80% of U.S. energy supply: EIA

U.S. energy production totaled 89 quadrillion Btu in 2015, according to the latest information from the EIA. Domestic production increased 2 quadrillion Btu, or …

Dow Jones Industrials – Is the Money Flow a Good Indicator of Market Direction?

Dow Jones Industrials – Is the Money Flow a Good Indicator of Market Direction?

DJIA

Bullish or bearish?

The chart above shows the total amount of money since August 2, 2011 that has been invested in the Dow Jones Industrial Average (DJIA) – the index – by institutional investors and retail investors via various forms …

Persistently Low Commodity Prices will Hold Back Exporting Countries’ Growth: World Bank

Persistently Low Commodity Prices will Hold Back Exporting Countries’ Growth: World Bank

Bank Downgrades Global Growth for 2016 – Commodity Exporters are Expected to Grow 5.4% Less than Importers

 World Bank Imports and Exporter GDP Growth

The World Bank released its economic growth outlook for 2016 Tuesday, reducing its expectations from earlier this year. The bank anticipates global economic …

Graph: Bloomberg, Natural gas five-day chart

Natural Gas at 5-Month High as Market Tightens

Natural gas prices up again today on bullish storage data

Natural gas prices rose to a five-month high today as information from the Department of Energy showed natural gas markets are tightening. Economist were expecting a build of 83 Bcf …

Natural Gas-Fired Power Plants Being Constructed Near Major Shale Plays

Natural Gas-Fired Power Plants Being Constructed Near Major Shale Plays

nat gas plants

Electrical generation from natural gas fired plants increased 19% in 2015 due to lower natural gas prices and increased legislation on carbon emissions. Coal and natural gas are now neck and neck in electrical generation capacity with EIA projecting natural …

Crude Oil and Rig Count Move in Unison

Crude Oil and Rig Count Move in Unison

As of last week, rig count is 78% lower than the previous low in 2010

Rig Chart

 

Crude oil price and rig count have moved primarily in conjunction with one another over the years. Rig count has fallen 81% since the …

Crude Oil Volatility Decreases

Crude Oil Volatility Decreases

Crude oil price volatility has declined since its peak in March according to a report from the EIA on May 10, 2016.

During the first three months of 2016, crude oil prices were relatively more volatile than in recent history. …

U.S. Energy Consumption: Oil and Gas are Still King at 62% of the Market

U.S. Energy Consumption: Oil and Gas are Still King at 62% of the Market

Primary Energy Consumption by Source and Sector – 2014

 

This graphic from the EIA helps visualize some of the data leaking out of the agency’s massive knowledge vault. In their measure for total U.S. energy consumption in 2014, they …

North America = Net Exporter of Liquids by 2021:  BP

North America = Net Exporter of Liquids by 2021: BP

Slowing demand and increasing production puts North America on track for net liquids exports

North America expected to export liquids starting 2021

BP (ticker: BP) released its 2016 Energy Outlook – Focus on North America today. In the repost it forecasts that increasing oil and gas production, mixed …

Borrowing Base Availability by Company

Borrowing Base Availability by Company

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 …

Natural Gas: Cheap Fuel with Low Carbon Emissions

Natural Gas: Cheap Fuel with Low Carbon Emissions

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 …