SM Energy Co
Will Gasoline Inventories Impact Gasoline and Crude Oil Prices?
The API released its weekly inventory report on December 28, 2016. It estimates that US gasoline inventories fell by 2.8 MMbbls from December 16–23, 2016.
Is PDC Energy Trading at a Premium?
PDC Energy’s 2015 forward EV-EBITDA multiple is 6.6x. So the sharply lower forward multiple indicates that Wall Street expects PDCE’s EBITDA to improve sharply in 2H15.
Why a dip in natural gas liquids prices affects energy names
NGLs prices remain uptrend despite the falling last week, which is positive to producers.
Higher natural gas liquids prices help wet gas producers like LINE
NGL prices traded higher last week, helping wet gas producers. NGL prices are an important indicator to track in the energy space.
Lower Crude Oil Prices Are Behind the Layoffs at U.S. Steel
Lower crude oil prices are the primary reason behind falling oil rig counts. Leading energy companies have reduced their 2015 capital expenditure targets.
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.
Natural gas liquids prices rise, boosted by propane prices
The representative NGL barrel reached highs of up to ~$50 per barrel in early February, given the strength in propane prices due to a cold winter as well as natural gas prices that pushed ethane prices up.
Higher natural gas liquids prices: Key causes and beneficiaries
This week saw NGL prices trade up by 5%, a positive short-term indicator. Plus, note that NGL prices are up significantly since late June, a positive medium-term indicator.
What higher natural gas liquids prices mean for the energy sector
Natural gas liquid prices recovered somewhat last week, likely off the back of higher crude oil prices.
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.
US Refinery Demand Impacts Crude Oil Inventories
US refineries operated at 93.4% of their operable capacity in the week ending May 5, 2017. The rise in refinery demand is bullish for crude oil prices.
Whiting Petroleum’s Capex Plans for 2018
Whiting Petroleum’s (WLL) 2018 capital expenditure forecast is $750 million, compared to its capex of $912 million in 2017.
Oil Traders Focus on US Crude Oil Inventories
On January 31, the API released its weekly crude oil inventory report. It reported that US crude oil inventories rose by 5.8 MMbbls from January 20–27.
These Stocks Are the Upstream Losers So Far This Week
In the week starting March 5, 2018, California Resources (CRC) fell from $14.98 to $14.65, a decrease of ~6.1%.
Crude Oil Prices Fell and Dragged S&P 500 Down
US crude oil (VDE) (RYE) (XLE) futures contracts for July delivery fell 0.3% and closed at $49.66 per barrel on May 30, 2017.
OPEC’s Spare Crude Oil Production Capacity near 7-Month High
The EIA estimated that OPEC’s spare crude oil production capacity increased by 60,000 bpd (barrels per day), or 2.8%, to 2.1 MMbpd (million barrels per day) in November 2017 compared with the previous month.
Natural gas liquids prices fall, hurting wet gas producers
Natural gas liquids prices fell on the week but remain up significantly since lows in June.
Hedge Funds’ Net Bullish Positions in US Natural Gas
Hedge funds decreased their net bullish positions in US natural gas futures and options 1.1% to 190,432 on June 5–12.
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).
Hedge Funds’ Net Long Positions in US Natural Gas
Hedge funds decreased their net bullish positions in US natural gas futures and options 1.9% to 186,799 on June 12–19.
EIA Reports Significant Build in US Natural Gas Inventories
On June 21, the EIA released its natural gas storage report. It reported that US natural gas inventories rose by 91 Bcf (billion cubic feet) to 2,004 Bcf from June 8 to 15.
Hedge Funds’ Net Bullish Positions on US Crude Oil
Hedge funds reduced their net bullish positions in US crude oil futures and options by 1,136 contracts to 133,606 contracts on June 20–27, 2017.
Low natural gas liquids prices cut into wet gas producer revenues
Natural gas liquids traded down on the week, though they remain up significantly since mid-2013 lows.
Why Are WTI and Brent Crude Prices Moving in Opposite Directions?
March WTI crude oil futures contracts rose 0.36% and settled at $30.8 per barrel on February 18, 2016. Brent fell 0.64% and closed at $34.3 per barrel.
Why US Crude Oil Output Hit a High from January 2016
US crude oil output is at the highest level since January 25, 2016. The rise in crude oil output is the biggest bearish driver for crude oil prices in 2017.
Why natural gas liquids prices have trended up for 7 months
This week saw NGL prices trade up, a positive short-term indicator. Plus, note that NGL prices are up significantly since late June—a positive medium-term indicator.
Could US Crude Oil Production Push Production Cut Deal Past 2017?
The EIA reported that monthly US crude oil production rose 196,000 bpd to 9.0 MMbpd in February 2017.
Will Crude Oil Prices Hit a New High?
US WTI crude oil prices were at $54.45 per barrel on February 23—the highest level since June 2015. As of April 10, prices were 2.5% below their high.
Singer’s Elliott Management sells its Delphi Automotive shares
Elliott Management trimmed its position in Delphi Automotive PLC (DLPH) in 1Q 2014. The position accounted for 6.66% of the fund’s 4Q 2013 portfolio and currently stands at 0.36% of the 1Q 2014 portfolio.
Natural gas liquids prices dipped last week but are up medium-term
NGL prices traded down by 4% on the week, as most of the composition experienced a drop in price. However, the representative NGL barrel remains up over 50% since lows in June.
OPEC’s Monthly Report Could Pressure Oil Prices
OPEC will release its Monthly Oil Market Report on July 12, 2017. OPEC’s crude oil production rose in June 2017.
What’s Happening with Whiting Petroleum Stock Recently?
Whiting Petroleum stock has been surging, rising ~2.8% in the five trading sessions leading up to June 11.
OPEC’s Plan for a Production Cut Exit Strategy
OPEC’s crude oil production was steady at 32.47 MMbpd (million barrels per day) in December 2017, according to a Bloomberg survey.
US Crude Oil Production Is Steady
The EIA estimates that the US crude oil output was steady at 11 MMbpd on July 13–20. The production was steady for the second consecutive week.
Crude Oil Prices Hit a 19-Month High
US crude oil prices hit a 19-month high of $54.24 per barrel in electronic trade on February 20, 2017. US markets were closed due to President Day.
Will US Crude Oil Inventories Fall and Support Oil Prices?
February WTI (West Texas Intermediate) crude oil futures contracts fell 0.2% to $53.2 per barrel in electronic trade at 4:50 AM EST on January 5, 2017.
China’s Teapot Refineries Impact the Crude Oil Market
The demand from China’s teapot refineries is expected to fall between June 2017 and August 2017 due to strict import quotas and tax policies.
Wet gas producers benefit from higher natural gas liquids prices
Natural gas liquids prices increased last week and remain up considerably since mid-year, helping companies with significant wet gas production.
EIA Downgraded Crude Oil Price Forecasts for 2017 and 2018
The EIA estimates that US WTI and Brent crude oil prices will average $55.1 per barrel and $57.1 per barrel, respectively, in 2018.
Is the US Capturing Crude Oil Market Share in China and India?
India is the third-largest crude oil consumer after the US and China. India is expected to import crude oil from the US by October 2017.
US Crude Oil Production: A Thorn for Crude Oil Bulls?
US crude oil production rose by 21,000 bpd to 9,314,000 bpd between April 28, 2017, and May 5, 2017. Production rose 0.2% week-over-week and 5.8% YoY.
Paul Singer’s Elliott Management sells its shares in Time Warner
Elliott Management sold its position in Time Warner Inc. (TWX) in 1Q 2014. The position accounted for 1.17% of the fund’s 4Q 2013 portfolio and was initiated in the same quarter.
Chesapeake: Gauging Institutional Investors’ Stance in Q3
In this article, we will look at Chesapeake’s top institutional investors’ activities in Q3 2019 and its top institutional sellers and exits.
Why technical analysis uses price patterns
Price patterns are trends that occur in stock charts. The charts are used in technical analysis. The pattern forms recognizable shapes. Price patterns are used to forecast the prices.
NGL prices ended roughly flat at $36.20/barrel in a neutral indicator for wet gas producers
Natural gas liquids prices have remained rangebound, which is a neutral for producers of NGLs.
NGL prices ended down slightly at $35.64/barrel, negatively affecting wet gas producers
The price on a representative mix of natural gas liquids declined slightly last week, resulting in a negative indicator for wet gas producers.
Why natural gas liquids prices decline except for ethane
Historically, NGLs prices have largely tracked crude oil prices.
Why higher oil prices support better natural gas liquids fundamentals
Higher crude oil prices supported NGL prices last week, positively affecting wet gas producers.
Which companies are hurt most when NGL prices take a dip?
Natural gas liquids took a leg lower, and are down significantly from the beginning of the year.
Slightly higher NGL prices benefit wet gas producers such as Linn Energy
Natural gas liquids prices edged higher last week, in a positive for wet gas producers such as Linn Energy.
Natural gas liquids prices remained roughly flat on the week
Natural gas liquids prices traded roughly flattish on the week in a neutral indicator for upstream energy companies.
Is US Crude Oil Production near an All-Time High?
US crude oil production rose by 128,000 bpd (barrels per day) or 1.3% to 9,878,000 bpd on January 12–19, 2018, according to the EIA.
Why OPEC’s Crude Oil Production Rose in January
A Reuters survey showed that OPEC’s crude oil production increased by 100,000 bpd (barrels per day) to 32.4 MMbpd (million barrels per day) in January 2018.
Gulfport Energy: Top Outperformer in the Upstream Space
On January 11–18, Gulfport Energy (GPOR) gained the most on our list of upstream energy stocks from XOP.
Smaller Build in US Natural Gas Inventories Supported Prices
The EIA reported that US natural gas inventories increased by 35 Bcf (billion cubic feet) to 2,308 Bcf on July 20–27.
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.
US Natural Gas Inventories: Lowest since 2014 This Time of Year
On June 7, the EIA reported that US natural gas inventories rose 92 Bcf to 1,817 Bcf from May 25 to June 1.
CXO, SM, FANG, NBL, and SRCI’s Stock Performances
SRC Energy (SRCI) was clearly the outperformer among its peers. SRC Energy has risen 78% YoY (year-over-year).
Upstream Companies with the Highest Operating Margins
In the first quarter, Concho Resources (CXO) reported operating margins of ~108%—compared to 173% in the first quarter of 2017.
US Crude Oil Inventories Fell 10% in the Last 10 Weeks
The EIA reported that US crude oil inventories declined by 6.9 MMbbls (million barrels) or 1.6% to 412.7 MMbbls on January 5–12, 2018.
A Look at Breakeven Prices and Trends i n Eagle Ford Well
According to IHS, the top quintile wells are dominated by EOG Resources (EOG), Marathon Oil (MRO), and ConocoPhillips (COP).
Weekly US Crude Oil Production Fell for the 1st Time since October
US crude oil production declined by 35,000 bpd (barrels per day) or 0.4% to 9,754,000 bpd from December 15 to 22, 2017, per the EIA.
US Crude Oil Inventories Fell almost 19% from Their Peak
The EIA estimated that US crude oil inventories fell by 6.4 MMbbls (million barrels) or 1.5% to 436.4 MMbbls on December 8–15, 2017.
Iran’s Crude Oil Production Is near a 9-Year High
The EIA estimates that Iran’s crude oil production fell by 10,000 bpd or 0.3% to 3,840,000 bpd in November 2017—compared to the previous month.
Where Whiting Petroleum Stands Next to Peers
Whiting Petroleum’s (WLL) forward EV-to-EBITDA multiple of ~5.4x is mostly in line with the peer average of 5.5x.
US Distillate Inventories Fell for the First Time in 4 Weeks
US distillate inventories fell by 1.3 MMbbls (million barrels) to 128.1 MMbbls on December 1–8, 2017, according to the EIA.
Which Upstream Company Is the Biggest Gainer This Week?
So far this week, Legacy Reserves (LGCY) has risen from its last week’s close of $1.49 to $1.63 on October 10—a significant rise of more than 9%.
US Crude Oil Production Hit July 2015 High
US crude oil production is at the highest level since July 2015. US crude oil (UCO) (UWT) prices have fallen 12.5% year-to-date due to high production.
Cushing Inventories Rose for the Fifth Straight Week
The market expects that Cushing crude oil inventories rose on September 22–29, 2017. Cushing inventories rose for the fifth straight week.
US Crude Oil Production Near 4-Week High: Another Bearish Factor
The EIA (U.S. Energy Information Administration) estimates that US crude oil production rose by 157,000 bpd (barrels per day), or 1.7%, to 9,510,000 bpd between September 8, 2017, and September 15, 2017.
US Gasoline Futures Hit 2-Year High despite Inventory Rise
US gasoline inventories The U.S. Energy Information Administration reported that US gasoline inventories rose 35,000 barrels to 229.9 MMbbls (million barrels) between August 18 and 25, 2017. Inventories fell 2.1 MMbbls, or 0.9%, from the same period in 2016. For the third time in five weeks, inventories rose. A market survey estimated that US gasoline […]
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.
Are OECD’s Crude Oil Inventories Helping Crude Oil Bears?
The EIA estimates that OECD’s crude oil inventories rose by 2.31 MMbbls (million barrels) or 0.1% to 3,021.5 MMbbls in May 2017—compared to April 2017.
Analyzing Iran’s Crude Oil Production and Export Plans
Iran’s crude oil production is at a seven-year high. Iran was able to scale up production after the US lifted sanctions on the country in January 2016.
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.
What to Expect from Crude Oil Futures This Week
US crude oil (USO) (IXC) (IYE) (PXI) prices are near their one-month low. Lower crude oil prices have a negative impact on oil producers’ earnings.
What Are Analysts Targeting for Callon Petroleum?
CPE’s highest target price stands at $24, while its lowest target price stands at $12.42, and its median target price stands at $19.5.
Callon Petroleum’s Revenue Growth and Net Profit Margin
Callon Petroleum’s (CPE) 3Q16 revenue rose ~63% YoY. Its revenue rose -13.5% YoY in 3Q15, while in 2Q16, its revenue rose ~15% YoY.
Will OECD Crude Oil Inventories Impact Crude Oil Prices in 2017?
The EIA estimates that OECD crude oil inventories rose by 15.9 MMbbls to 3,061 MMbbls in November 2016—compared to the previous month.
Devon Energy Is Trading below Analysts’ Median Target Price
Currently, ~24% of Wall Street analysts rate Devon Energy (DVN) as a “strong buy,” ~47% rate it as a “buy,” and ~26% rate it as a “hold.”
How Marathon Oil’s Stock Price Has Reacted to Past Earnings Releases
After losing ~84% of its market capitalization from September 2014 to February 2016, Marathon Oil’s stock price is finally showing signs of a new uptrend.
Could Devon Energy Beat Its 2Q16 Earnings Expectations?
In 1Q16, excluding one-time items, Devon Energy (DVN) reported EPS (earnings per share) of -$0.53 per share, $0.10 better than the estimated EPS of -$0.63 per share.
ConocoPhillips’s Positive Earnings Trend Mitigates Losses
In 1Q16, excluding one-time items, ConocoPhillips reported earnings per share of -$0.95, $0.09 better than the consensus estimated EPS of -$1.04 per share.
How Did Occidental Petroleum’s Stock Price React to Past Earnings?
Falling crude oil (UCO) and natural gas (UGAZ) prices over the last two years have hurt the entire upstream sector. Occidental Petroleum (OXY) is no exception.
India’s Crude Oil Demand Will Likely Drive the Crude Oil Market
The EIA reported that India produced 1 MMbpd (million barrels per day) of crude oil in 2014 and 2015. It’s expected to increase marginally in 2016 and 2017.
Crude Oil’s Forward Curve Suggests Low Prices in the Long Term
Crude oil’s forward curve suggests that crude oil prices could hit $40 per barrel in 2016. They may hit $52 per barrel by the end of 2024.
Bakken Crude Oil Production in October: Fourth Straight Decline
The EIA estimates that in October, the Bakken Shale produced 1.16 MMbpd of crude oil—1.8% less than the production levels in September 2015.
Diamondback Energy Increases 2Q15 Capex to Improve Efficiency
Even though Diamondback Energy’s net income slumped in 2Q15 as crude oil crashed, the company’s capex increased more than threefold to $525 million compared to 1Q15.
Will Concho Resources’ Free Cash Flows Improve?
Concho Resources’ free cash flows (or FCF), defined as operating cash flows less capital expenditure, have remained negative in the past 13 quarters.
Is Continental Resources’ Debt Level a Threat?
Continental Resources’ net debt has been on the rise in the past 13 quarters. In 2Q15, CLR’s net debt increased 3.3% from 1Q15 to ~$6.96 billion.
Analyzing Marathon Oil’s Free Cash Flows
Marathon Oil’s free cash flows had initially improved in the past 13 quarters. Between 4Q12 and 3Q14, it posted positive figures in four quarters.
How Has Concho Resources’ Production Been?
In 2Q15, Concho Resources’ production increased 11.5% from 1Q15 to ~147 thousand barrels of oil equivalent per day.
Marathon Oil’s 2Q15 Adjusted Earnings Closely Matched Estimates
Marathon Oil’s 2Q15 adjusted earnings nearly matched estimates. Its 2Q15 adjusted loss per share was $0.23—compared the estimate of $0.225.
Crude Oil Prices Show the Falling Wedge Pattern
Crude oil prices closed above the key support of $50 per barrel for the fourth consecutive day as of July 21, 2015. Oil prices have been fluctuating.
Crude Oil Prices Break below the Key Support of $50 per Barrel
The pessimistic sentiments of oversupply and record inventories will continue to drag crude oil prices lower. The nearest support is seen at $44 per barrel.
Crude Oil Prices Test the Key Support Level and Could Rebound
Slowing US output and falling inventories could support crude oil prices. The next resistance for US WTI crude oil prices is seen at $55 per barrel.
Will Crude Oil Prices Hit Their Next Support Level?
August WTI crude oil futures fell below the key support level of $52 per barrel for the second day in a row.
Bakken Crude Oil Production Continues to Slide in June
Bakken crude oil production increased from 136 Mbpd in June 2007 to 1.22 MMbpd in June 2015. This represents nearly an 800% increase in eight years.
Will Natural Gas Inventories Rise for 15 Straight Weeks?
For the week ended July 10, 2015, the EIA will publish its weekly natural gas in storage report on July 16.
Weakness Persists in Marathon Oil’s Geographical Operations
In 1Q15, Marathon Oil’s North American exploration and production sales volume increased 33%, compared with an 8% volume decline in its international operations.