Energy XXI Ltd
Upstream Losses: SN, TELL, BBG, EPE, and EXXI
In the week starting on March 26, 2018, Sanchez Energy (SN) decreased from $3.31 to $3.11—a decrease of more than 6.0%.
Bill Barrett Leads Upstream Gainers This Week
In the week starting March 5, 2018, Bill Barrett (BBG) increased from last week’s close of $4.53 to $4.76 on March 6.
Northern Oil and Gas Leads Upstream Gainers This Week
In the week starting January 1, Northern Oil and Gas (NOG) increased from last week’s close of $2.05 to $2.54 on January 2, a significant increase of ~24%.
Analyzing Wall Street Targets for the Worst-Performing Upstream Stocks
The median price target for BCEI is $34.86, which is ~25.0% higher than its December 1, 2017, closing price of $27.99.
Why EXXI Is the Worst-Performing Upstream Stock Year-to-Date
EXXI fell sharply from its January 9, 2017, close of $30.25 to $5.13 on December 1—a sizeable decrease of ~83.0%.
Your Upstream Losers This Week: EXXI, REN, EPE, CPE, and UNT
So far this week (as of Tuesday, November 14), Energy XXI Gulf Coast (EXXI) has fallen from last week’s close of $8.83 to $5.49—a significant fall of ~38%.
Oil Producers Brace for Impact of US Dollar Depreciation
August West Texas Intermediate crude oil futures contracts trading on the NYMEX rose slightly by 0.59% and closed at $45.95 per barrel on July 15, 2016.
How Did Crude Oil Fare on July 12?
US active crude oil futures contracts for August delivery closed at $46.8 per barrel on July 12, which was 8.6% below their 2016 high of $51.23 on June 8.
Why Did Crude Oil Fall 2.2% Last Week?
US crude oil prices (USO) (OIIL) fell by 2.2% in the week ended June 17, 2016. Crude oil closed at $47.98 per barrel on the same day.
What Are the Bullish Drivers for Crude Oil Prices?
The expectation of slowing production will support crude oil prices. Crude oil prices are up more than 90% from the lows in February 2016.
Why Did Iran’s Crude Oil Production Rise in May 2016?
A Reuters survey reported that Iran’s crude oil production rose by 15,000 barrels per day to 3.55 MMbpd in May 2016—compared to April 2016.
OPEC Failed to Set an Output Ceiling but Crude Oil Rose
July WTI crude oil futures contracts trading on NYMEX rose by 0.33% to settle at $49.17 per barrel on June 2, 2016.
Iran: Boon or Bane for the Crude Oil Market in 2016?
Iran exported ~2 MMbpd of crude oil in April 2016. Iran’s crude oil production rose to 3.38 MMbpd in May 2016—compared to 3.35 MMbpd in April 2016.
Why Did Crude Oil Prices Rise for the Third Straight Week?
US crude oil prices rose 3.3% for the week ending May 27—the third consecutive weekly gain for oil. On May 27, US crude oil prices closed at $49.33 per barrel.
Crude Oil Inventories Decline, Crude Oil Prices Near $50
WTI and Brent crude oil prices settled below $50 per barrel due to profit booking. Oil traders were booking profit ahead of the US Memorial Day holiday on Monday, May 30, 2016.
Crude Oil Outperformed the Commodity Complex Last Week
US crude oil rose 3.4% for the week ending May 13. Crude oil rose following the announcement of a surprise fall in crude oil inventory levels on May 11.
US Crude Oil Inventory, Canadian Wildfires Affected Crude Prices
The larger-than-expected rise in US crude oil inventories limited the upside for US crude oil prices despite supply disruptions in Canada.
What Bullish Catalysts Are Driving Crude Oil Prices this Week?
Crude oil price catalysts Let’s take a look at some key bullish drivers for crude oil prices. Bullish drivers for crude oil prices US crude oil production fell by 15,000 bpd (barrels per day) to 8.95 MMbpd (million barrels per day) for the week ending April 22 from the previous week. This is the lowest level […]
What’s Next for the Crude Oil Mark in Iran?
Iran is the third-largest oil producer in OPEC. Bloomberg projects that its crude oil production rose by 300,000 bpd to 3.5 MMbpd in April 2016 over March.
Gasoline Prices Followed the Momentum of Crude Oil Prices
On April 27, 2016, the EIA released its “This Week in Petroleum” report. It reported that average US retail gasoline prices rose by 1.7% week-over-week.
What Are the Bullish Catalysts for Crude Oil Prices This Week?
The rise in gasoline demand in 2016 compared to 2015 has boosted gasoline prices. Consequently, it boosted crude oil prices.
Analyzing the Correlation of Crude Oil and Industrial Metals
In the past year, US crude oil was more correlated with iron ore than copper. In August 2015, the correlation between crude oil and iron ore touched 75.5%.
Iran’s Crude Oil Production: Biggest Bearish Catalyst for Crude Oil
Iran’s crude oil production increased by 100,000 bpd (barrels per day) to 3.2 MMbpd in March 2016—compared to the previous month.
US Crude Oil Rig Count Hits a Multi-Decade Low: What’s Next?
Baker Hughes released its weekly US crude oil rig count report on April 22. The US crude oil rig count fell by eight to 343 rigs between April 15 and April 22.
Cushing Crude Oil Stocks Could Put Pressure on Crude Oil Prices
Data intelligence company Genscape stated that Cushing crude oil stocks rose by 1.5 MMbbls (million barrels) for the week ending April 22, 2016.
Why Did the Doha Oil Producer Meeting Fail?
On April 17, 2016, major oil producers failed to reach an agreement to freeze crude oil production.
Why Gasoline Stocks Rose for the First Time in the Last 6 Weeks
The EIA reported that US gasoline stocks rose by 1.4 MMbbls to 244 MMbbls for the week ending April 1, 2016—compared to the previous week.
North American Oil and Gas Producers’ Debt Rose in 2015
AlixPartners surveyed 134 public companies in the US and Canada. The surveys showed that they had a cumulative long-term debt of more than $353 billion in 2015.
Why Russia’s Crude Production Doesn’t Bode Well for Doha Meeting
Russia’s crude oil production rose by 2.1% to 10.9 MMbpd (million barrels per day) in March 2016 compared to March 2015.
Did Russia Follow the New Crude Oil Production Deal?
The Russian Energy Ministry reported that Russia produced 10.88 MMbpd of crude oil in February 2016. It produced 10.989 MMbpd in January 2016.
Why Did Crude Oil Prices Rise 37% since the Lows in February?
Supply stripping demand caused crude oil prices to fall by almost 66% since June 2014. However, oil prices rose almost 37% from the lows in February 2016.
How Did Gasoline Production and Demand Affect Crude Oil Prices?
On February 24, 2016, the EIA reported that gasoline production rose by 334,000 bpd (barrels per day) to 10 MMbpd (million barrels per day) for the week ending February 19, 2016.
Crude Prices Fell Again Due to Long-Term Oversupply Concerns
NYMEX-traded WTI crude oil futures for March delivery fell and closed at $29.64 per barrel on February 19. Oil prices fell due to long-term oversupply concerns.
Will Gasoline and Distillate Stocks Support Crude Oil Prices?
The API reported that gasoline and distillate stocks fell by 0.76 MMbbls (million barrels) and 2 MMbbls, respectively, for the week ended February 12, 2016.
How Do Crude Oil, Gasoline, and Diesel Prices Mirror Each Other?
The EIA estimates that US gasoline prices could average around $1.98 per gallon in 2016—the lowest annual average for gasoline prices since 2004.
Why Are Cushing Crude Oil Stocks Crushing Crude Oil Prices?
The EIA reported that Cushing crude oil stocks rose by 523,000 barrels to 64.7 MMbbls for the week ending February 5, 2016—the highest number since April 2004.
API Crude Oil Inventory: Up, Up, Up, and Up Again
On February 9, 2016, the API published its weekly crude oil inventory report. API crude oil inventory rose for the fourth straight week.
API Crude Oil Inventory Will Continue to Pressure Oil Prices
The API will release its weekly crude oil inventory report on February 9. The US commercial crude oil inventory rose by 3.8 MMbbls for the week ending January 29.
Flat US Crude Oil Production Puts Pressure on Crude Oil Prices
The EIA (U.S. Energy Information Administration) reported that US crude oil production fell marginally by 14,000 bpd (barrels per day) to 9.2 MMbpd (million barrels per day) for the week ending January 22, 2016.
Why OPEC Is Increasing Crude Oil Production
Data compiled by Bloomberg suggest that OPEC’s (Organization of the Petroleum Exporting Countries) monthly crude oil production increased by 18,000 bpd (barrels per day) to 32.1 MMbpd (million barrels per day) in December 2015.
US Crude Oil Production Could Be a Game Changer in 2016
The US crude oil production rose due to technological advancement, higher crude oil prices between 2010–2014, and cheaper credit facilities in 2015.
Long Positions Fall in the CFTC’s Commitment of Traders Report
The CFTC’s COT report states that hedge funds reduced their long positions for the week ending January 12, 2016. The net long positions fell by 20,673 contracts to 163,504 contracts during the week.
Assessing the Geopolitical Tensions Surrounding the Kingdom
Saudi Arabia has led the Middle East as well as OPEC for more than a decade. But the kingdom is Sunni-dominated, and Shia influence has begun to grow.
Debt Fell for XOP Stocks with a Crude Oil Production Mix over 90%
The debt of XOP upstream companies operating with a production mix of crude oil greater than 90% fell by an average of 1% on a YoY (year-over-year) basis in 3Q15.
Sales Performance of XOP Companies by Production Mix
The sales of XOP upstream companies operating with a production mix of crude oil greater than 90% fell by 9% on a YoY (year-over-year) basis in 3Q15.
The Oil and Gas Industry Hit Multiyear Lows in 2015
Almost every subindustry in the oil and gas sphere is being affected by lower crude oil prices. Downstream is the only exception where lower crude oil prices have boosted profits.
What Were OPEC Policies during Previous Crude Oil Crashes?
During the 1985-86 crude oil crash, OPEC (Organization of Petroleum Exporting Countries) decided to defend its market share by pumping more oil.
US Oil and Gas Companies’ Debt Exceeds $200 Billion
US oil and gas exploration and production companies are under severe pressure.
An Analysis of the Correlation between XOP and Crude Oil
Here we’ll present the results of a quarterly correlation analysis between crude oil and the SPDR S&P Oil & Gas Exploration & Production ETF (XOP).
Why the Momentum in Crude Oil May Be Short Lived
February’s crude oil contract rose 4.6% in the seven days ended December 23. The major drivers of crude oil prices are falling crude oil inventories.
Crude Is near the Break-Even Cost for Some OPEC Members
With crude falling below $40 per barrel, it’s inching towards the break-even cost of OPEC’s member countries. Lower crude oil prices are a direct loss for crude oil exporters.
Why XOP Is More Sensitive to Crude Oil than to Natural Gas
The weighted production mixes of crude oil and natural gas in the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) are about 32% and 39%, respectively.
Crude Oil Prices Have Fallen 11% since October 9
December WTI crude oil futures contracts trading in NYMEX fell by 1.4% on Monday, October 26, 2015. Crude oil prices fell for the second day.
Crude Oil Futures Prices Are Trading Close to the Key Support
December WTI crude oil futures fell for the fourth time in the last five trading sessions. Prices are moving towards the nearest support level within the price channel.
Commodity Meltdown: 19 Oil and Gas Companies in Bankruptcy
The net debt of US oil and gas exploration and production companies increased from $81 billion in 2010 to $169 billion by 1H15. The main reason is the catastrophic fall in crude oil prices.
Natural Gas Consumption: A Key Catalyst for Natural Gas Prices
The EIA released its monthly drilling report on July 13, 2015. The data showed natural gas production from the key seven shale regions.
Crude Oil Prices Hit $51 per Barrel, First Time in 5 Days
WTI crude oil futures contracts for August delivery closed below $52 per barrel for the first time in the last five days on July 15, 2015.
Natural Gas Production Drives Natural Gas Prices
Natural gas production from the lower 48 states of the US continued to rise week-over-week. Production from the lower 48 states was at 79.96 Bcf as of July 14.
Natural Gas Prices Fall on Speculation of Slowing Demand
August natural gas futures trading in NYMEX fell by 1.73% on Wednesday. Natural gas prices closed at $2.78 per MMBtu on July 1, 2015.
Inventory Data: Putting Pressure on Natural Gas Prices
Rising natural gas inventories imply that supply is rising or demand is falling. The natural gas inventories are 730 Bcf more than the levels of 1,703 Bcf in 2014.
UNG Underperforms Natural Gas Prices
UNG tracks the performance of futures contracts of NYMEX-traded natural gas prices. UNG declined by 1.28% and closed at $13.86 on Wednesday, June 17.
Natural Gas Inventory: Natural Gas Prices Could Decline More
The consensus of slowing natural gas production and mild weather estimates could swing natural gas prices in either direction.
Natural Gas Prices Surge More than 4% on Warmer Weather Estimates
Natural gas futures trading in NYMEX for July delivery increased by 4.44% on Monday. Prices increased on the consensus of warmer weather forecasts.
Natural Gas Prices Slump: Consensus of Massive Stockpile Buildup
Mild weather estimates could also curb the demand for natural gas in the short term. This will also add pressure to natural gas prices.
Long-Legged Doji: Crude Oil Prices Could Fall More
The long-term downward trend of WTI crude oil prices is putting pressure on crude oil prices. It’s dragging crude oil prices to the nearest support of $55 per barrel.
Triple Top Pattern: Crude Oil Prices Could Decline
WTI crude oil prices are declining for the third day in a row. The bearish sentiments could push oil to test the support of $55 per barrel.
Natural Gas Surges More than 3% Ahead of Inventory Data
Natural gas futures for May delivery increased by 3.16% on April 15, 2015. Yesterday, prices closed at $2.61 per MMBtu.
Why Exco Resources Surged 14% in the Last 2 Trading Sessions
Exco surged more than 14% in the last two trading sessions. It entered into a service agreement with Bluescape Resources. It will invest $10 million in Exco.
Refinancing surges as high yield debt picks up
February saw high yield, or junk bond, activity pick up. Investors turned to high yield debt for higher yields. Most deals were to refinance older debt.
Natural gas prices held above the key resistance level
The consensus of bullish inventory withdrawals supported the rise in natural gas prices. These factors could steer natural gas prices during this week of trading.
Natural gas’s head and shoulder pattern seems to be decreasing
The April futures for natural gas prices show the emergence of the head and shoulder pattern. Prices broke key support levels of $2.80 on March 9, 2015.