Resolute Energy Corp
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%.
Permian Region Driving US Crude Oil Production
The EIA (U.S. Energy Information Administration) estimates that US crude oil output rose by 100,000 bpd (barrels per day) to 11,000,000 bpd last week, a record high.
US Dollar Index Fell from an 11-Month High
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.
EIA Upgrades US Natural Gas Consumption Forecasts for 2018
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.
Decoding US Natural Gas Consumption Trends
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.
Iran’s Oil Production and Exports Could Help Crude Oil Bulls
Reuters surveys estimate that Iran’s crude oil production decreased by 20,000 bpd to 3.80 MMbpd in May—compared to the previous month.
Will Libya’s Crude Oil Production Decline in May?
Libya plans to increase its crude oil production in 2018 despite ongoing production cuts mandated by OPEC.
Libya’s Crude Oil Production Is near a 5-Year High
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.
Tellurian Leads Upstream Gainers This Week
In the week starting November 20, 2017, Tellurian (TELL) rose from last week’s close of $11.73 to $12.66 on November 22, an increase of almost 8%.
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%.
Company & Industry Overviews
2016 US Sector Performance: Top Performers in Energy and Financials
The US GDP growth outlook is near its potential at ~3%, with increased investment in infrastructure.