Energy XXI Ltd
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.
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.
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.
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.
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.
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.
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%.
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.
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 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.
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%.
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%.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
US Oil and Gas Companies’ Debt Exceeds $200 Billion
US oil and gas exploration and production companies are under severe pressure.
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.
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.
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.
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.
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.