At the end of 2020, ConocoPhillips (COP) expects to have a cumulative cash balance of $4.5 billion after meeting its priorities at $50.00 per barrel of WTI crude oil price.
In this series, we’ll look at ConocoPhillips’s (COP) value proposition for its stakeholders. We’ll study COP’s key cash allocation priorities, low-cost reserves, and emphasis on conventional reserves.
In this series, we’ll analyze Halliburton’s drivers, balance sheet, free cash flow, and dividend yield.
On December 7, 2017, natural gas’s implied volatility was 40.5% or ~7.5% less than its 15-day average. On November 29, the implied volatility rose to 47.7%.
On December 7, 2017, US crude oil’s implied volatility was 20% or ~1.1% less than its 15-day average. On December 1, the implied volatility fell to 19.8%.
On November 30–December 7, XOP had the highest correlation of 95.1% with US crude oil January 2018 futures on our list of energy subsector ETFs.
On November 30–December 7, 2017, the S&P Mid-Cap 400 Index (IVOO) had the highest correlation of 43.8% with US crude oil January 2018 futures.
On December 7, 2017, US crude oil (USO) (USL) January 2018 futures rose 1.3% and closed at $56.69 per barrel.
January US natural gas futures (GASL) contracts were below their 20-day, 50-day, and 100-day moving averages on December 7, 2017.
US dry natural gas production fell by 0.5 Bcf per day or 0.7% to 76.2 Bcf per day on November 30–December 6, 2017, according to PointLogic.
Baker Hughes will publish its US natural gas rig count report on December 8, 2017. Gas rigs rose by four to 180 on November 22–December 1, 2017.
The EIA estimated that US natural gas inventories rose by 2 Bcf (billion cubic feet) to 3,695 Bcf on November 24–December 1, 2017.
January natural gas (UNG) (UGAZ) futures contracts rose 0.8% to $2.78 per MMBtu (million British thermal units) at 1:08 AM EST on December 8, 2017.
An unexpected increase in US natural gas inventories during the withdrawal season pressured natural gas (FCG) (GASL) prices on December 7, 2017.
Gold fell to four-month low price levels amid the improved global market sentiment and the strong dollar.
CVE stock fell 8.3% from last week’s close of $10.12 to $9.28 on December 6.
Petrobras rose from its December 1 close of $9.86 to $9.93 on December 6—a moderate increase of less than 1.0%.
World Fuel Services (INT) has fallen ~3.0% from the previous week’s close of $28.04 to $27.21 on December 6.
Andeavor (ANDV) is leading the list of gainers in the refining and marketing sector. ANDV rose from last week’s close of $104.43 to $107.74 on December 6—an increase of more than 3.0%.
In the first three days of the week ending December 8, unleaded gasoline prices fell ~4.6%, leading the decline in energy commodities. Heating oil prices have fallen ~4.1% so far this week.