Hess Corporation

The availability of takeaway capacity from the Bakken can affect producers’ earnings.

ConocoPhillips’s (COP) total production volume in 2015 was 1,589 Mboe/d excluding Libya. This represents a 5% year-over-year growth after adjusting for asset dispositions and downtime.

The Energy Select Sector SPDR ETF (XLE) fell 0.66% in the week ended September 11. XLE tracks a diverse group of 45 of the largest American energy stocks in the S&P 500 Index (SPX).

On September 12, WTI crude oil (UWTI) (USO) (OIIL) (USL) (SCO) (DWTI) active contracts closed at $46.29 per barrel—0.9% above the previous closing price.

Anadarko Petroleum reported adjusted earnings per share of -$0.50 in 4Q16. The company’s EPS were -$0.57 in 4Q15 and -$0.89 in 3Q16.

Apache’s stock has fallen almost 20% this year. However, since October, it has remained above approximately $47 on an average.

The US Dollar Index (DXY) has risen 8% against global currencies in 2015. The rising dollar should put further pressure on the pessimistic oil market.

In its weekly report released on October 28, the EIA reported an increase of 3.4 million barrels in crude oil inventories for the week ended October 23.

Hess’s (HES) key management objectives include taking several steps to counter lower commodity prices. These include capital and cost reductions.

ConocoPhillips stock is nearing its psychologically important price level of $40. It hasn’t been able to break above this level since January 5.

Every week, the U.S. Energy Information Administration (or EIA) reports figures on crude inventories, or the amount of crude oil stored in facilities across the U.S.

Between November 6 and November 13, 2017, oil-weighted (more than 60% oil production) stocks from the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) fell just 0.1%.

Now, given the supply and demand situation, were OPEC to leave production levels unchanged, crude oil prices would fall further. This would be bearish for energy companies.

On February 5, the DOE reported an increase in crude oil inventories of 0.44 million barrels—much lower than analysts’ expectations of a build of 2.27 million barrels.

Concho Resources (CXO) will release its 4Q15 earnings on February 25, 2016. The estimate for 4Q15 revenue is ~$592.4 million. Revenue in 4Q14 was ~$692.4 million.

Oil rig counts decreased last week, down ~4% since June Last week, the Baker Hughes oil rig count decreased from 1,367 to 1,361. Oil rig counts have been on a slight downward trend since mid-year. Rigs drilling for oil peaked this year in June, at 1,413, but have since fallen about 4%. Though the drop […]

Rig counts tell us how many rigs are actively drilling for oil and gas. They can be an indication of oil and gas producers’ confidence.

Hess Corporation has consistently been improving its performance since long before crude oil prices began crashing.

In the weeks leading up to Apache’s (APA) 1Q16 earnings release, Wall Street analysts have provided target prices for the next 12 months.

The unexpected fall in crude oil inventory supported crude oil prices. The fall in US imports might have led to the fall in the US oil inventory.

In its weekly report on June 3, the EIA reported that US crude oil refinery inputs averaged ~16.4 MMbpd during the week ending May 29.

On February 5, Anadarko Petroleum is scheduled to report its fourth-quarter earnings results after the market close.

On July 18, US crude oil September futures rose 0.9% and closed at $67.75 per barrel.

On June 11, Whiting Petroleum’s (WLL) short interest ratio (short interest as a percentage of float) was ~16%.

Record US crude oil production, profit-booking, and a larger-than-expected increase in Cushing inventories could pressure oil prices this week.

The EIA (U.S. Energy Information Administration) published that the US crude oil output rose by 48,000 bpd to 9.2 MMbpd for the week ending October 30, 2015.

In its weekly Petroleum Status Report released on Thursday, the EIA announced a decrease of 2.8 MMbbls in crude oil inventories for the week ending May 22.

In this article, we’ll look into the cash flow growth expectations of Anadarko Petroleum (APC).

Hess sees growth opportunities in the Bakken and Utica plays. It also has several growth projects offshore, including its North Malay Basin and its Stampede projects.

Oilfield service company Baker Hughes’s (BHI) crude oil rig count decreased by 84 last week, from 1,140 to 1,056.

Hess’s (HES) stock started rapidly declining in the second half of 2015. This was due to weaker crude oil prices in the third and fourth quarters.

On November 21, 2016, Whiting Petroleum (WLL) announced its intention to sell its Bakken midstream assets to an affiliate of Tesoro Logistics Rockies, a subsidiary of Tesoro Logistics (TLLP), for $375 million.

The previous parts of this series (parts 8 and 9) explained the counterintuitive relationship between low natural gas prices, falling rigs, and rising natural gas production. Oil rigs have a simpler relationship with crude oil prices and oil production.

Anadarko Petroleum’s (APC) current implied volatility is ~25.9%, which is ~13% lower than its 15-day average of ~30%.

As 2015 came to a close, Concho Resources’ (CXO) stock started falling. CXO has fallen ~21% since February 2015.

Early last week, WTI crude oil had eased to close to $99 following Libya’s restarting exports from major ports and abating fears over supply disruptions in Iraq.

ConocoPhillips’s net debt-to-EBITDA was in the range of 0.6x–1.1x between 3Q13 and 4Q14. But in 2015, its net debt-to-EBITDA multiple started increasing.

Between June 5 and June 12, 2017, US crude oil active futures fell 2.8%. However, a basket of equally weighted oil stocks rose 1.0%.

WTI crude oil closed at $33.16 per barrel for the week ended January 8, 2016, 10.4% lower than its closing price in the week prior.

Last week, the offshore rig count increased by two to 60, which is close to its 4-year high of 66 that it reached on August 29, 2014.

Let’s see which energy company stands out as the most efficient in reducing debt loads and improving leverage ratios and which ones are laggards.

Analysts had expected a decrease of 2.5 million barrels in crude inventories last week. We’ll discuss actual changes in the crude inventory in this series.

Following Hess’s (HES) 3Q16 earnings release on October 26, the company’s stock fell 1.2%. The stock has fallen ~14% YoY (year-over-year).

Oil traded flat on the latest inventories data, with a large build in crude oil stocks but declines in gasoline and distillate stocks.

Chesapeake Energy’s 4Q15 EV-to-EBITDA multiple is in-line with its historical average of ~5.8x. The market value of its equity declined by ~71% year-over-year.

On December 12, WTI crude oil January contracts closed at $52.83 per barrel. It was ~2.6% higher than the last closing price and the highest level for 2016.

On February 11, 2016, US crude oil touched a 12-year low. From February 11, 2016, to March 13, 2017, US crude oil active futures contracts rose 84.7%.

WTI (West Texas Intermediate) crude oil futures contracts for January delivery rose slightly by 0.4% and closed at $43.04 per barrel on Wednesday.

On May 16, US crude oil June futures rose 0.3% and closed at $71.49 per barrel, a more-than-three-year high.

Oasis Petroleum’s (OAS) current implied volatility is ~58.4%, which is ~4.3% lower than its 15-day average of ~61%.

The API reported that US gasoline inventories fell by 1.9 MMbbls (million barrels) for the week ending March 25, 2016—compared to the previous week.

The Chinese market rose by 3% on Thursday, October 9. China’s steps to improve its slowing economy sent positive vibes in the global crude oil market.

Conoco is confident that its production growth will grow by ~3%, driven by a combination of new projects such as APLNG, expected to ramp up in mid-2015.

September WTI crude oil futures contracts trading in NYMEX rose by 1.79% on August 18. Crude oil prices rose due to the consensus of falling US crude oil inventories.

In the week ending May 10, US crude oil inventories were 2% above their five-year average.

Current implied volatility in Whiting Petroleum (WLL) is ~49.9%, 0.20% higher than its 15-day average of 49.8%.

NYMEX-traded June WTI crude oil futures gained slightly by 0.76% and settled at $59.39 per barrel on May 8, 2015. Crude oil prices changed marginally.

On February 6, 2017, WTI crude oil (USO) (OIIL) (USL) (SCO) March futures closed at $53.01 per barrel, which is ~1.5% lower than the previous closing price.

Between September 14 and 21, US crude oil November futures rose 2.9% and closed at $70.78 per barrel. Let’s take a closer look.

In its Weekly Petroleum Status Report released on November 4, 2015, the EIA reported an increase of 2.8 MMbbls in crude oil inventories for the week ended October 30, 2015.

July WTI crude oil futures contracts trading in NYMEX slumped by 2.83% and settled at $58.03 per barrel on Tuesday, May 26, 2015. Crude oil prices plunged.

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.

In the week ending on May 31, US crude oil inventories were 6% higher than their five-year average.

Crude oil–weighted stocks outperformed crude oil in the last five trading sessions, but underperformed it since oil’s 2016 low in February.

NYMEX-traded WTI crude oil futures rose marginally by 0.75% and settled at $59.97 per barrel on June 16, 2015. Prices rose despite oversupply worries.

Earlier this month, the White House made good on its threats and announced tariffs on Chinese goods worth $50 billion, including steel and aluminum.

The latest survey from Reuters suggested that OPEC’s crude oil production is breaking historical records. OPEC crude oil production hit 33.1 MMbpd in January 2016.

Whiting Petroleum might report positive earnings this quarter compared to an adjusted net loss of $0.16 per share last quarter. On June 24, Suntrust Robinson reduced its target price on Whiting Petroleum by $5 to $35.

Global crude oil surplus concerns drove crude oil prices lower in yesterday’s trading. And declining demand from refineries added to the fall in oil prices.

On January 13, 2017, WTI (West Texas Intermediate) crude oil (USO) (OIIL) February contracts closed at $52.37 per barrel, ~1.2% lower than their previous closing price.

NYMEX-traded WTI crude oil futures contracts for September delivery rose by 2.80% on August 25. Crude oil prices recovered despite oversupply concerns.

Chesapeake has been intently focusing on reducing its debt load. Over the past three quarters, it has reduced its 2017 maturing and puttable debt commitments.

Yesterday, US crude oil March 2019 futures closed ~$2.07 below March 2020 futures.

NYMEX-traded WTI (West Texas Intermediate) crude oil for June delivery prices declined by 0.80% and settled at $59.15 per barrel on Friday, May 1, 2015.

Baker Hughes reported that the active crude oil rig count fell for the 25th week. The worse-than-expected decline in the rig count supported crude oil prices.

On February 27, Chesapeake Energy might report an adjusted net income of $0.18 per diluted share based on analysts’ consensus estimates.

On August 14, 2017, US crude oil (USO) (DBO) September futures fell 2.5% and closed at $47.59 per barrel.

In the week ended January 11, US crude oil inventories were 8% higher than their five-year average—the same as the previous week.

March WTI (West Texas Intermediate) crude oil futures contracts trading in NYMEX fell by 1.4% and settled at $29 per barrel on February 16, 2016.

July WTI crude oil futures trading in NYMEX fell slightly by 0.08% and closed at $59.92 per barrel on Wednesday, June 17, 2015.

NYMEX-traded WTI crude oil futures contracts for July delivery fell by 2.75% and settled at $58 per barrel on June 4. Crude oil prices declined for the second day.

August WTI crude oil futures trading in NYMEX fell for the third day in a row. Prices fell slightly by 0.04% and closed at $50.89 per barrel on Friday, July 17.

On March 27, 2017, WTI (West Texas Intermediate) crude oil May futures closed at $47.73 per barrel, ~0.5% lower than their previous closing price.

In the first quarter, Whiting Petroleum’s (WLL) total production volume was ~127.1 Mboepd.

Hess Corp. is one of the largest companies to operate in the Bakken, and it has stated that the area will be the primary driver of its production growth for 2013–2017.

The high correlation indicates a stronger positive relationship between oil-weighted stocks and US crude oil prices.

CLR’s short interest ratio was 21.6% as of February 13, as compared to 21.5% at the end of 4Q16.

November WTI crude oil futures contracts fell by 0.56% on October 15. Crude oil prices fell for the fourth day due to the record crude oil inventory buildup.

NYMEX-traded WTI crude oil futures contracts for July delivery increased by 1.76% on June 2. The depreciation of the US dollar supported crude oil prices.

The overall production cost structure is important to withstand the crude oil price onslaught.

Approximately 52% of analysts covering Hess (HES) recommend “hold,” ~43% recommend “buy,” and 5% rate it as “underperform.”

Anadarko Petroleum (APC) is scheduled to release its 1Q18 earnings on May 1 after the markets close. The revenue estimate stands at ~$2.95 billion.

Though India’s CPI inflation has come down, certain risk factors could cause it to rise again.

WTI crude oil futures fell 0.1% to $68.1 per barrel on April 27. IXC and XLE fell ~0.6% and ~1.1%, respectively, on the same day.

On July 31, 2017, US crude oil (USO) (DBO) (USL) September futures closed at $50.17 per barrel—0.9% above the last closing price.

On June 14, Russia and Saudi Arabia announced a bilateral framework to increase cooperation and manage the oil market.

U.S. crude oil inventories increased more than expected, but oil prices traded up on news of escalating action in Syria.

On August 3–10, USO fell 1.3%, USL fell 0.5%, and UCO fell 2.8%. These ETFs track US crude oil futures.

It may take sharper declines in rig counts this time around for a substantial downward trend in production to be seen.