On January 23, 2014, the EIA reported that natural gas inventories decreased 107 bcf (billions of cubic feet) for the week ended January 17, bringing current inventories to 2,423 bcf.
Southwestern Energy is one of the lowest-cost producers in the upstream energy space in terms of both lifting cost and finding and development cost.
SWN’s EBITDA declined in 2012 compared to 2011, primarily due to lower natural gas prices. Southwestern produces almost 100% natural gas.
Southwestern expects total production of 740 to 752 bcfe in 2014, up ~14% compared to 2013 production expectations of 653 to 655 bcfe.
Introduction to Arch Coal Inc. Arch Coal Inc. (NYSE: ACI) is one of the United States largest coal producers and marketers with over $4.12 billion in revenue through the sale…
Most major oilfield service companies expect U.S. onshore rig counts to be flat to slightly up in 2014 compared to 2013.
The three largest names in oilfield services—Halliburton, Baker Hughes, and Schlumberger—recently reported earnings and commented on what’s in store for 2014.
Natural gas producers will see upside from the colder winter, as it has helped to boost natural gas prices.
Natural gas prices dipped slightly on lower ethane prices, but remain up significantly from lows in mid-2013.
Natural gas slipped slightly last week as the market expects oncoming milder-than-normal weather.
Crude oil prices have remained buoyant lately, with last week’s rally mostly driven by higher-than-expected U.S. GDP growth.
Oil traded flat on the latest inventories data, with a large build in crude oil stocks but declines in gasoline and distillate stocks.
Noble Corp. (NE) is one of the largest off-shore drillers. While earnings have been rising, Noble and its peers have underperformed the S&P 500. Shares barely rose in 2013.
Pinecrest Energy (PRY, PNCGF) is a Toronto Venture Exchange–listed oil and gas exploration and production company focused on the Alberta, Canada, Slave Point region.
Noble’s competition shifting focus to deepwater drilling provides another advantage to its jackup strategy.
This week saw NGL prices trade up, a positive short-term indicator. Plus, note that NGL prices are up significantly since late June—a positive medium-term indicator.
This past week, natural gas prices increased by $0.86 per MMBtu, which was a strong positive catalyst for natural gas–weighted producers in the short run.
Crude oil prices continued to rally, as a sharper-than-expected decrease in distillates helped to support prices. Oil prices have remained relatively high and stable.
Last week, U.S. distillate inventories fell by 3.21 million barrels, compared to analysts’ expectations of an inventory draw of 0.56 million barrels.
Over 99% of SWN’s production is currently natural gas, so the company is very levered to changes in the commodity’s price.