Resolute Energy Corp
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%.
The US Dollar Index fell ~0.38% to ~94.67 on July 3, while August WTI oil futures contracts rose 0.3% to $74.14 per barrel that same day.
Market intelligence company Pointlogic estimates that US natural gas consumption fell ~0.9% to 57.3 Bcf (billion cubic feet) per day from June 7 to June 13.
PointLogic estimates that US natural gas consumption rose ~2.1% to 57.8 Bcf (billion cubic feet) per day from May 31 to June 6.
Libya plans to increase its crude oil production in 2018 despite ongoing production cuts mandated by OPEC.
The EIA estimates that Libya’s crude oil production increased by 20,000 bpd to 1,005,000 bpd in April—compared to the previous month.
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%.
Company & Industry Overviews
The US GDP growth outlook is near its potential at ~3%, with increased investment in infrastructure.