On a disposition-adjusted basis, Marathon Oil’s (MRO) 1Q17, 4Q16, and 1Q16 production come in around 338 Mboepd (thousand barrels of oil equivalent per day), 349 Mboepd, and 339 Mboepd, respectively.
On March 29, 2017, ConocoPhillips announced an agreement with Cenovus to sell 50% of its non-operated interest in its oil sands mining operations at Foster Creek Christina Lake in Alberta, Canada.
On March 9, 2017, Marathon Oil (MRO) announced an agreement to sell its Oil Sands Mining business assets to Royal Dutch Shell and Canadian Natural Resources. This transformative asset sale would mark MRO’s complete exit from Canada.
At 12:50 PM EST on November 23, 2016, West Texas Intermediate crude oil futures contracts for January 2017 delivery were trading at $48.17 per barrel, a rise of ~0.27%.
On November 14, the WTI (West Texas Intermediate) crude oil futures contract for December delivery closed the day at $43.32 per barrel—a fall of ~0.21%.
After gaining for three straight trading weeks, crude oil prices spiked on Monday, October 10, following comments made by Russia’s president, Vladimir Putin. At the World Energy Congress in Istanbul, Putin stated that Russia is ready to join the oil output cut deal.
After breaking the resistance level of $50 and reaching multi-month high price levels on October 6, crude oil prices stayed above $50 early on October 7.
After posting moderate gains on Tuesday, September 20, crude oil prices inched higher on Wednesday, September 21, amid a drop in inventory levels. Crude oil prices also took support from the oil service workers’ strike in Norway.
After posting moderate gains on Thursday, September 15, amid a surge in gasoline prices, crude oil prices resumed their slide on September 16. The sentiment in the crude oil market is weaker amid a supply glut and the increased oil rig count.
After starting the week on a positive note by gaining on September 12, crude oil lost its strength on September 13 amid bearish market outlook reports.
At 6:00 AM EST on September 7, the West Texas Intermediate crude oil futures contract for October delivery was trading at $45.24 per barrel—a gain of ~0.94%.
At 6:30 AM EST on September 2, the West Texas Intermediate crude oil futures contract for October delivery was trading at $43.56 per barrel—a gain of ~0.93%.
After declining for three consecutive trading days, crude oil prices started Thursday, September 1, on a weaker note and declined as the day progressed. At 1:05 PM EDT on Thursday, the WTI crude oil futures contract for October delivery was trading at $43.44 per barrel, a drop of ~2.8%.
After gaining for seven consecutive trading days, crude oil prices pulled back on Monday, August 22, amid waning expectations of output cut hopes. At 1:30 PM EDT, the WTI crude oil futures contract for October delivery was trading at $47.60 per barrel, a drop of ~3.2%.
The Russian index, MICEX, rose to an all-time high—helped by investors turning their attention to how the rebound in crude oil prices can be best captured.
At 1:20 PM EST on July 28, the West Texas Intermediate crude oil futures contract for September delivery was trading at $41.11 per barrel—a drop of ~1.9%.
At 6:45 AM EST on July 22, the West Texas Intermediate crude oil futures contract for September delivery was trading at $44.8 per barrel—a gain of ~0.11%.
After falling on Wednesday, July 13, amid a weak market outlook reported by the International Energy Administration, crude oil began its recovery in the early hours of July 14.
Although crude oil started the day on a weaker note, it regained strength on Friday, July 1. Baker Hughes reported that the oil rig count increased for the fourth time in the past five weeks, adding 11 new rigs to reach 341 rigs.
The Nuveen International Growth Fund (NBQAX) invests at least 80% of its assets in non-US stocks. It can invest up to 30% of the portfolio in emerging markets.
After gaining on Friday, June 17, for the first time last week, crude oil carried the same sentiment to this week. It was trading higher on Monday morning.
Crude oil fell sharply on Friday, June 10, 2016, affected by weakness in the global markets and the strong dollar. At 12:27 PM EDT, WTI crude futures for July expiry were trading at $49.31 per barrel, a drop of ~2.5%.
Crude oil had a volatile trading day on Tuesday, May 31, 2016. At 1:40 PM EDT, WTI crude for July delivery traded at $49.67 per barrel, a gain of 0.67%.
Montney is well connected to the East Coast and West Coast by piped access. Encana has about 10,000 Montney locations (or 525,000 acres) across British Columbia and Alberta.
Crude oil is Canada’s primary export and the slump weighed negatively on the Canadian dollar. Crude prices fell by more than 20% since the beginning of 2016.
The US dollar-Canadian dollar currency pair is inversely related to the Canadian dollar. It rose by 0.2% on December 18. The pair rose by 1.1% the previous day.
The ruble fell against the US dollar on December 11, 2015, after a free fall in crude prices globally. Higher inflation levels have been hurting the economy.
Highfields Capital Management is an investment management firm that manages private investment funds and caters to pension funds, philanthropic and charitable foundations, and endowments.
Point72 increased its stake in Tyson Foods, Inc. in the third quarter. The position accounts for 2.20% of the total portfolio—up from 0.59% of the fund’s 2Q14 portfolio.
Highfields Capital initiated a new position in MIK in the third quarter. The position accounts for 1.38% of the fund’s 3Q14 portfolio. Michaels is the largest arts and crafts specialty retailer in North America.
Highfields Capital Management LP is based in Boston. The fund was founded by Jonathon Jacobson in 1998. The fund’s US long portfolio declined slightly to $12.8 billion in the third quarter.
While Sprott’s share price has been bottoming out due to the dividend cut, Long Run Exploration (LRE.TO), Sprott’s largest holding, has seen its share price increase over 30%.
