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Upstream and Oilfield Services Stock Fell Last Week
On December 7–14, upstream stock Carrizo Oil & Gas (CRZO) fell the most on our list of energy stocks.
Last Week’s Strongest Exploration and Production Stocks
Black Stone Minerals (BSM), a mineral interest owner structured as an MLP, was the strongest E&P (exploration and production) stock last week, rising 11.1%.
Decoding US Natural Gas Inventories from June 22 to 29
On July 6, the EIA (U.S. Energy Information Administration) released its natural gas storage report.
Russia’s Crude Oil Production and OPEC’s Meeting
Russia’s crude oil output averaged 10.97 MMbpd (million barrels per day) in May. Russia’s crude oil production averaged 11.1 MMbpd in early June.
Lower US Crude Oil Production Forecasts for 2019
The EIA reported that US crude oil production increased by 100,000 bpd (barrels per day) to a record high of 10.9 MMbpd on June 1–8.
Which Energy Stocks Fell the Most Last Week?
Between May 25 and June 1, integrated energy stock Petrobras (PBR) fell the most on our list of energy stocks.
Plains All American Pipelines’ Key Upcoming Capital Projects
Plains All American Pipeline (PAA) invested ~$279 million in capital projects in 3Q17 and ~$893 million in the nine months ended September 30, 2017.
Implied Volatility of Top 5 Return on Equity Upstream Stocks
Carrizo Oil & Gas (CRZO) has the highest implied volatility among its peers, while Devon Energy (DVN) has the lowest implied volatility.
The Top 5 Upstream Companies Based on Return on Equity
The company with the highest trailing 12-month ROE (return on equity) as of 3Q17 is Carrizo Oil & Gas (CRZO) with an ROE of 52.1%.
OPEC Could Pressure US Natural Gas Prices in 2018
US natural gas rigs rose 35% in the last 12 months, while US natural gas prices (UNG) fell 20% during this period.
US Gasoline Inventories Add More Pain to Crude Oil Futures
According to the EIA, US gasoline inventories rose by 6,780,000 barrels to 220.8 MMbbls (million barrels) on November 24–December 1, 2017.
Analyzing Wall Street Targets for the Best-Performing Upstream Stocks
Currently, ~69.0% of Wall Street analysts tracking Kosmos Energy (KOS) rate it as a “strong buy” or “buy.”
Matador Resources: The Fifth-Best-Performing Upstream Stock Year-to-Date
In 9M17, Matador Resources (MTDR) reported revenues of ~$399.0 million—about 124.0% higher than its 9M16 revenues of ~$178.0 million.
The Fourth-Best-Performing Upstream Stock Year-to-Date
In 9M17, KOS’s production increased ~107.0% to ~7.8 million barrels when compared with 9M16.
Relationship between US Distillate Inventories and Oil Prices
US distillate inventories rose by 2,747,000 barrels to 127.7 MMbbls (million barrels) on November 17–24, 2017. Inventories rose 2.2% week-over-week.
Understanding Falling US Distillate Inventories
The EIA estimates that US distillate inventories fell 0.8 MMbbls (million barrels) to 138.0 MMbbls from September 15–22, 2017.
US Gasoline Inventories Fell for 4th Time in 5 Weeks
The EIA (U.S. Energy Information Administration) estimates that US gasoline inventories fell 2.1 MMbbls (million barrels), or 1%, to 216.1 MMbbls between September 8, 2017, and September 15, 2017.
Why US Crude Oil Production Rose Last Week
The EIA (U.S. Energy Information Administration) released its weekly crude oil inventory report on September 13.
Why Hedge Funds May Be Turning Bearish on US Crude
The US Commodity Futures Trading Commission reported on Friday, August 25, that hedge funds have cut back their bullish positions in US crude futures and options.
US Gasoline Demand Falls for 2nd Time in 5 Weeks
The US Energy Information Administration estimates that weekly US gasoline demand fell 194,000 bpd (barrels per day) to 9.5 MMbpd (million barrels per day) between July 7, 2017, and July 14, 2017.
Why Cushing Inventories Hit a New Low
A preliminary survey estimates that inventories at Cushing could have fallen between July 14 and July 21, 2017.
Will Saudi Arabia’s Crude Oil Export Plans Rescue Oil Prices?
Saudi Arabia is the largest crude oil producer and exporter among the OPEC (Organization of the Petroleum Exporting Countries) member countries.
Cushing Inventories: Lowest Level since November 2016
Cushing inventories could have fallen on June 30–July 7, 2017. Crude oil inventories at Cushing have fallen for the seventh straight week.
US Gasoline Inventories Could Help Crude Oil Bulls
The EIA reported that US gasoline inventories fell by 0.6 MMbbls to 241.9 MMbbls on June 9–16, 2017. Inventories rose 1.8% from the same period in 2016.
EIA, IEA, and OPEC Expect US Crude Oil Production to Rise
The EIA (U.S. Energy Information Administration) reported that US crude oil production rose by 12,000 bpd to 9,330,000 bpd on June 2–9, 2017.
US Gasoline Consumption Rose in May
The EIA estimates that US gasoline consumption averaged 9,600,000 bpd (barrels per day) in May 2017—0.16 MMbpd higher than the same period in 2016.
Will Crude Oil Futures Rise after OPEC’s Meeting?
July WTI (West Texas Intermediate) crude oil (USL) (SCO) (BNO) futures contracts rose more than ~5% for the week ending May 19, 2017.
EIA Downgraded US and Brent Crude Oil Price Forecasts
The EIA released its monthly STEO report on May 9, 2017. It estimates that US WTI crude oil prices would average $50.68 per barrel in 2017.
How US Distillate Inventories Affect Diesel and Oil Prices
The EIA (U.S. Energy Information Administration) reported that US distillate inventories fell by 2.2 MMbbls (million barrels) to 150.2 MMbbls between March 31 and April 7, 2017.
US Crude Oil Production: Highest Level since March 2016
The EIA estimates that US crude oil production will average 8,980,000 bpd and 9,530,000 bpd in 2017 and 2018, respectively.
Hedge Funds’ Net Long Positions in WTI Reached a New High
Hedge funds’ net long positions rose by 23,299 contracts to 413,637 contracts in the week ending on February 21, 2017—compared to the previous week.
Why Did Crude Oil Prices Rise for the Sixth Day?
On August 11, 2016, the International Energy Agency reported that crude oil production could lag demand by 1 MMbpd (million barrels per day) in 3Q16.
Why Did Crude Oil Prices Diverge before OPEC’s Meeting?
July WTI (West Texas Intermediate) crude oil futures contracts trading in NYMEX fell by 0.47% and settled at $49.1 per barrel on Tuesday, May 31, 2016.
Crude Oil Prices Rise on Expectations of a Fall in US Inventories
WTI and Brent crude oil prices have risen by more than 80% since their lows in February 2016, but they’ve still fallen by 55% compared to their 2014 highs.
Crude Oil Prices Fell Again! Renewed Concerns of Rising Supplies
June WTI (West Texas Intermediate) crude oil futures contracts fell 2.5% and closed at $43.65 per barrel yesterday.
Will the Crude Oil Supply and Demand Gap Narrow by Early 2017?
The IEA forecast that the global crude oil supply and demand gap would decline to 200,000 bpd in 2H16—compared to 1.5 MMbpd in 1H16.
Hopes for Oil Producer Meeting Boosted Prices for Last 2 Months
The Doha meeting was originally scheduled for March 2016. However, due to scheduling difficulties, it had to be postponed, which led to a rise in crude oil price volatility.
Why Did Brent Crude Oil Prices Skyrocket to 4-Month High?
Brent crude oil futures rose by 2.1% to $42.83 per barrel and tested their four-month high. Prices rallied ahead of the oil producer meeting in Doha.
How Did Saudi Arabia’s Message Impact Oil Investors?
Saudi’s deputy crown prince indicated that crude oil is a free market. Saudi Arabia may not be interested in returning to the OPEC mechanism.
WTI and Brent Crude Oil Prices Were Trading almost Flat
WTI and Brent crude oil prices fell for the second day in a row due to record US crude oil inventory and profit booking.
Are Crude Oil Traders the Bullish Catalyst for the Global Oil Market?
Bullish crude oil prices benefit upstream companies like Matador Resources (MTDR), SM Energy (SM), Warren Resources (WRES), and Bonanza Creek Energy (BCEI).
Bull Market: Crude Oil Prices Trade at 2016 Highs
Crude oil supply outages in Iraq and Nigeria have been boosting crude oil prices in March 2016. Supply outages increased by 0.25 MMbpd in March.
October Eagle Ford Natural Gas Production Fell 2% in a Month
The EIA estimates that natural gas production at the Eagle Ford Shale was 6.83 Bcf per day in October 2015, ~2% below September’s production level.
Large Rig Count Movers in Oil and Gas: Eagle Ford and Utica
Among the large rig count movers, the Utica Shale saw two natural gas rig decreases during the week ended November 6.
Evaluating the Large Rig Movers in Natural Gas: Eagle Ford and Utica
Among the larger rig movers, one natural gas rig each was idled in the Haynesville and DJ-Niobrara shales during the week ending October 30.
Permian and DJ-Niobrara among Larger Rig Movers
Among the larger rig movers, the DJ-Niobrara Shale and the Marcellus shale lost three rigs each in the week ending October 23.
Permian and Eagle Ford among Larger Rig Movers Last Week
The Permian Basin and Eagle Ford Shale lost three and two crude oil rigs, respectively, last week. The Haynesville Shale and the Williston Basin also lost one crude oil rig each last week.
Key US Shales to Witness Lower Crude Oil Production by November
The EIA expects crude oil production to slow down at most of the key US shales by November. It expects production to fall at five key shales and rise at two others in October.
Eagle Ford Oil and Gas Production Fell Again in September
The EIA estimates that natural gas production at the Eagle Ford Shale was 7.0 Bcf per day in September. That’s 2% below August’s production level but 6% higher than production a year ago.
Permian Shale Oil Production Up in September: Who Benefited?
Permian shale oil production rose from 845,600 bpd in September 2007 to 2.0 MMbpd in September 2015. That’s a 20% rise over September 2014 and a 135% rise over the past eight years.
Permian Basin Oil Rig Crash Led the Way in Week Ended October 9
Currently, there are 605 working oil rigs in the United States. The Permian Basin accounts for 230 of these rigs, more than any other region.
Why the Eagle Ford Oil and Gas Production Fell in August
The EIA estimates that the natural gas production at the Eagle Ford Shale reached 7.04 Bcf per day in August. That’s 2% below July’s production level.
Permian Shale Oil Production Rose Again in August
The Permian shale oil production rose from 834,400 bpd (barrels per day) in August 2007 to 1.98 MMbpd in August 2015. That’s a rise of 137% in eight years.
Permian Basin Rig Count Down Again the Week Ended September 11
Currently, there are 652 working oil rigs in the United States. The Permian Basin accounts for 248 of these rigs, more than any other region.
The Permian Basin Rig Count Slid Last Week
In the 12 months ended September 4, 2015, the number of active oil rigs in the Permian Basin fell by 308, or 55%. However, rig counts seem to be turning around.
Permian Shale’s July Crude Oil Production Growth Slowest in 2015
The EIA estimates that the Permian Shale’s July crude oil production was ~2.02 MMbpd, only 0.1% higher than June’s production total. However, this is a 24% increase over production in July 2014.
Permian Basin Rig Count Holds Steady, Adds 1 in July 2 Week
Currently, there are 640 working oil rigs in the US. The Permian Basin has 231 of the rigs. Its oil rig count rose by one in the week ending July 2.
Eagle Ford Natural Gas Production Slows Month-over-Month
The number of rigs working at Eagle Ford decreased from 137 in April to 121 in May. A year ago, there were 260 drilling rigs in the region.
Permian Shale Oil Production Rises in May
Permian Basin shale crude oil production amounted to ~2.05 MMbpd in May. This is 0.5% higher than April’s production total and a 29% increase over production in May 2014.
Encana Performs Better with 1Q15 Cash Flow
Encana’s (ECA) 1Q15 cash flow from operations was $482 million, or 49% less than the $943 million it recorded in 1Q14.
Eagle Ford’s April Gas Production Is 20% Higher Year-over-Year
The Eagle Ford’s April gas production reached 7.5 billion cubic feet per day. That’s about the same as production in March and 20.6% higher than a year ago.
Permian Shale Oil Production Rises in April
On May 11, the EIA released its Drilling Productivity Report. Permian shale oil production was 1.1% higher than March and 30% more than April.
Will Inventory Data Break the Natural Gas Support of $2.50 per MMBtu?
The EIA will release its weekly natural gas report today. The market estimates that the weekly gas stockpile will increase by 53 Bcf in today’s report.
Matador Resources Gained and Rice Energy Lost Last Week
Matador Resources (MTDR) gained most among its upstream peers last week. Its stock was up by almost 18%.