RECENT Energy and Power RESEARCH
In this series, we’ll examine the natural gas inventory for the week ended November 10, 2017, and its effects on natural gas and coal pricing.
The US offshore rig count for the week ending November 17, 2017, was 21—three higher than the previous week.
January WTI (West Texas Intermediate) crude oil (DBO) (OIL) futures contracts rose 0.7% to $56.83 per barrel on November 21, 2017.
Internationally diversified utility holding company PPL Corporation’s (PPL) stock continued to trade weak as broader utilities near all-time highs.
Chesapeake Energy (CHK) took a slight fall last week even as crude oil prices (UCO)(DBO) slid. Chesapeake Energy stock fell ~3%, compared to the previous week, which ended on November 10.
On November 15, 2017, after market hours, JA Solar Holdings (JASO) announced its 3Q17 results for the quarter ended September 30, 2017.
Canadian Solar (CSIQ) reported its 3Q17 earnings results on November 9. CSIQ declared earnings per share of $0.22, slightly below the analyst consensus estimate of $0.26.
For the week ending November 17, 2017, crude oil (USO) prices fell marginally from $56.76 per barrel to $56.71 per barrel, a decrease of 0.05%.
On November 20, 2017, US crude oil (USO) (DBO) active futures fell 0.5%. On the same day, US crude oil active futures settled at $56.42 per barrel.
January US crude oil (USL) (UWT) futures contracts fell 0.51% to $56.42 per barrel on November 20, 2017.
Weatherford International (WFT) stock fell 16.0% in the week ended November 17, 2017. The VanEck Vectors Oil Services ETF (OIH) generated a return of -6.0% during this period.
Nabors Industries’ (NBR) one-year stock price was down 58% as of November 16. We discussed Nabors Industries’ value drivers in Will Nabors Industries’ Weak Run Continue? The Energy Select Sector SPDR…
Between November 10 and November 17, US crude oil (USO)(USL) January futures fell 0.5%—the first weekly loss in the last six weeks.
Broader utilities (XLU) rose 0.5% and posted a new 52-week high of $57.23 last week. XLU has risen more than 15% year-to-date.
Schlumberger’s (SLB) one-week return was -6% through November 17, 2017. In this series, we’ll look at Schlumberger and its correlation with crude oil.
On an adjusted basis, APA’s production in 3Q17 was 354 Mboepd—a 19.2% YoY (year-over-year) fall from 438 Mboepd in 3Q16.
So far in 2H17, W&T Offshore (WTI) stock price rose from $1.96 at the end of June 2017 to $3.15 as of November 16 – a very strong rise of ~61%.
Nabors Industries (NBR) is one of the largest land-based drilling operators in the world. It had a weak run in the stock market in 2017.
Investors’ quest for safe-haven stocks resulted in a modest rally in US utilities this year. XLU has risen more than 15% YTD.
On November 16, 2017, US crude oil (USO) (USL) January futures fell 0.3% and closed at $55.35 per barrel.