Vanguard Energy ETF

Antero Resources’ current acreage is focused in the Marcellus Shale in West Virginia and the Utica Shale in Ohio.

Chevron Corporation is currently trading at EV-to-2014E EBITDA of 5x, has an approximately $239 billion market cap, and ~$245 billion enterprise value.

A heat wave that has persisted in the US has helped to lift natural gas prices.

The EIA estimates that US crude oil production fell by 40,000 barrels per day to 9.096 million barrels per day in the week ending September 25.

In 2015, sinking oil prices impacted earnings of integrated energy companies. This reflects on the stock performance of these companies.

The rise in US crude oil production would have contributed to the rise in US crude oil inventories between October 28 and November 4, 2016.

Suncor Energy (SU) is the only losing stock in the current week from the integrated energy sector. It fell from last week’s close of $34.67 to $34.52 on October 11, 2017.

As a result of steeply falling CFO, Halliburton’s free cash flow deteriorated to a negative $499 million in 3Q15 from a negative $71 million a year ago.

Crude oil’s (USO) (DBO) (USL) (OIIL) implied volatility was 26.6% on April 28, 2017, which was 4.6% above its 15-day average.

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.

An important part of Tesoro’s business, crude-by-rail allows refiners to cover maximum accessibility and to gain from price differentials.

For 2Q17, Denbury Resources’ continuing production averaged 59.8 Mboepd, which is ~5% lower than its 2Q16 continuing production of ~63.0 Mboepd.

Bloomberg surveys projected that Cushing crude oil inventories fell by 0.7 MMbbls (million barrels) for the week ending June 3—compared to the previous week.

An OPEC meeting is scheduled for November 30, 2016, in Vienna. The meeting could provide details about the quota system for OPEC members.

Patterson-UTI Energy (PTEN) released its 4Q15 financial results on February 4, 2016. The company recorded total revenues of $338.5 million in 4Q15, down 62% from $901.2 million recorded in 4Q14.

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.

Williams Companies’ forward EV-EBITDA multiple, which is based on the current fiscal quarter’s EBITDA estimates, is 13.1x.

Integrated energy companies such as ExxonMobil (XOM), Chevron (CVX), Royal Dutch Shell (RDS.A), and BP (BP) are steady dividend-paying companies.

On a sequential basis, Marathon’s operating income fell by 78%. All the segments reported declines in income in 4Q15 over 3Q15.

An increase in US power generation numbers is expected for the week ended October 30, 2015.

Devon plans to rapidly grow production in the Eagle Ford over the next few years.

NGLs prices remain uptrend despite the falling last week, which is positive to producers.

Last week temperatures were colder than normal, however, natural gas fell steeply on the week despite this.

Tesoro Corporation’s (TSO) stock was on an uptrend in 2015, fueled by healthy refining margins. TSO rose 21% in the trailing 12 months up to January 20, 2016.

In 1Q16, Shell’s (RDS.A) upstream segment is likely to put on a dull show due to weaker crude oil prices. Earnings from the downstream segment are also likely to be subdued.

The EIA published its monthly STEO report on January 12, 2016. The global crude oil production will rise to 95.9 MMbpd in 2016 and 96.7 MMbpd in 2017.

Valero Energy (VLO) released its fourth quarter earnings on January 29. The company reported a net income of $1.2 billion.

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.

NGL prices traded higher last week, helping wet gas producers. NGL prices are an important indicator to track in the energy space.

Weatherford International’s (WFT) management expects crude oil price to start stabilizing by the second half of 2016. It plans to keep reducing costs to manage the current uncertainty.

The correlation coefficient of Phillips 66 (PSX) versus WTI stands at 0.40.

The Permian Basin spreads across a wide swath of western Texas and southern New Mexico. The name “Permian Basin” generally refers to a combination of the Delaware Basin and Midland Basin.

October WTI (or West Texas Intermediate) crude oil (USO) (UCO) futures contracts rose 0.4% and were trading at $47.73 per barrel in electronic trade at 2:00 AM EST on August 22, 2017.

The EIA estimated that four-week average US gasoline demand rose by 134,000 bpd (barrels per day) to 9,102,000 bpd from March 10–17, 2017.

There’s a long road ahead for Freeport-McMoRan’s asset sales program. The company is looking to raise between $5 billion and $10 billion in 2016.

Exxon Mobil has three major business segments: Upstream, Downstream, and Chemical. Upstream contributes the most to XOM’s earnings.

November WTI (West Texas Intermediate) crude oil futures’ moving averages suggest that crude oil prices could keep trading higher going forward.

The fall in distillate inventories supported diesel and crude oil futures on June 28, 2017. US diesel futures rose 1.4% to $1.43 per gallon on June 28.

US crude oil futures contracts for March delivery closed at $53.20 per barrel on February 14, 2017—0.5% more than the previous closing price.

PointLogic reported that US natural gas consumption rose 10% between December 8 and December 14, 2016.

OPEC producers will be meeting at an energy forum in Algeria from September 26–28, 2016. Crude oil prices are up by 16% so far in August 2016.

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.

September US crude oil (RYE) (VDE) (BNO) futures contracts rose 3.3% to $47.8 per barrel on July 25, 2017.

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.

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.

US distillate inventories rose for the fourth time in the last five weeks. They rose ~3% in the last five weeks, which is bearish for diesel and oil prices.

Currently, ~54% of Wall Street analysts rate Marathon Oil (MRO) as a “buy” and ~43% of analysts rate it as a “hold.”

It terms of analysts’ recommendations for Chevron, approximately 53.3% of analysts rate Chevron a “hold,” 40% rate it a “buy,” and 6.7% rate it a “sell.” The average broker target price of $93.11 for CVX implies a ~3.4% return in the next 12 months.

Natural gas liquid prices recovered somewhat last week, likely off the back of higher crude oil prices.

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.

The EIA reported that OPEC’s crude oil production rose by 510,000 bpd (barrels per day) to 32.7 MMbpd (million barrels per day) in June 2016.

The WTI-Brent spread narrowed to ~$6 per barrel last week and the prices between WTI and Brent have generally been moving closer over the past few months.

The EIA estimates that US distillate inventories fell by 2.6 MMbbls (million barrels) to 135.4 MMbbls on September 22–29, 2017.

Approximately 51% of the analysts rated Whiting Petroleum a “buy,” ~44% rated it a “hold,” and ~5% rated it a “sell.” The average broker target price was $13.10.

WTI (West Texas Intermediate) crude oil (RYE) (VDE) futures hit $26.21 per barrel on February 11, 2016—the lowest level in more than a decade.

Cameron International’s (CAM) Subsea segment showed signs of recovery in fiscal 3Q15 after reporting falling revenue in three consecutive quarters.

Crude oil prices rose on June 9, 2017, due to the supply outage in Nigeria. Rebels damaged the Trans Niger pipeline in Nigeria, which caused a leak.

Halliburton (HAL) registered the highest revenue growth in our group. Halliburton’s 2017 revenues increased 29.8% to $20.62 billion.

Petrobras (PBR) has unveiled its new five-year strategic plan. It aims to evolve into a financially stronger and more socially responsible company.

The EIA released its weekly crude oil report on May 24, 2017. US gasoline inventories fell by 0.8 MMbbls to 239.9 MMbbls on May 12–19, 2017.

It’s very apparent that the historical beta of XOP is higher than that of its peers, as it’s closer to 1.6 than the average of 1.2.

Shell’s stock had a weak opening to 2016. It traded below its 50-day and 200-day moving averages at the beginning of the year. Its share price touched a trough on January 20, 2016.

Green bonds carry the same risk-return profile as conventional bonds. However, these bonds fund projects focused on energy efficiency, clean water, transportation, biodiversity, and sustainable waste management.

November WTI crude oil futures contracts fell by 2.6% on October 19. Crude oil prices fell due to the mammoth rise in the gasoline glut and weak demand cues.

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.

On October 3, 2017, Iraq banned selling dollars to Kurdistan’s banks due to the vote in the referendum. Geopolitical tensions could impact crude oil prices.

OPEC (Organization of the Petroleum Exporting Counties) producers will be meeting at an energy forum in Algeria from September 26–28, 2016.

Oil prices have fallen more than 60% since June 2014, which affects the revenue of OPEC countries.

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.

Iraq is home to the fifth-largest oil deposits in the world and currently produces about 4% of the global oil supply. Iraq is now the second-biggest producer in the OPEC exporters’ cartel, after Saudi Arabia.

The API released its weekly inventory report on December 20. It estimates that US gasoline inventories fell by 1.96 MMbbls from December 9–16, 2016.

Occidental Petroleum Corporation (OXY) engages in oil and gas exploration and production in the U.S., Latin America, and the Middle East.

US crude oil futures contracts for April delivery closed at $47.72 per barrel on March 14, 2017—1.4% lower than the previous day’s closing price.

The EIA reported that power generation from natural gas increased in all regions of US in July, while generation from coal declined in all regions.

A less-than-expected rise in gasoline inventories supported gasoline prices on May 3, 2017. Gasoline and crude oil (DIG) (SCO) (VDE) prices rose on May 3.

Natural gas liquids prices fell on the week but remain up significantly since lows in June.

BBL Commodities is one of the largest oil hedge funds in the world. BBL Commodities expects that Brent crude oil prices could hit $80 per barrel in 2018.

US distillate inventories rose by 0.64 MMbbls (million barrels) to 139.8 MMbbls on January 12–19, 2018, according to the EIA.

Citigroup estimates that global crude oil supply outages could currently be around 3.5 MMbpd (million barrels per day).

Houston-based Apache Corporation is an oil and gas exploration and production company with operations in the United States, Canada, Egypt, the United Kingdom, and Australia.

WTI crude oil futures contracts for December delivery fell by 1.7% on October 23. Crude oil prices fell due to the appreciating US dollar and weak global demand cues.

March US crude oil futures were above their 100-day, 50-day, and 20-day moving averages on January 26, 2018—more bullish momentum for oil prices.

August WTI (West Texas Intermediate) crude oil futures contracts rose 1.0% and closed at $45.49 per barrel on Wednesday, July 12, 2017.

The API crude oil inventory rose for the fourth consecutive week. The rising crude oil inventory will continue to put pressure on crude oil prices.

The EIA (U.S. Energy Information Administration) estimates that US crude oil production rose by 79,000 bpd or 0.83% to 9,502,000 bpd on August 4–11, 2017.

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.

WTI crude oil futures increased ~8.6% on June 25–July 2. Expectations of a drop in US crude oil inventories could support oil prices.

Baker Hughes released its weekly oil and gas rig count report on November 10. It estimated that US oil rig counts rose by nine to 738 on November 3–10.

Tesoro Logistics’ (TLLP) operations are organized into the Crude Oil Gathering segment and the Terminalling and Transportation segment.

Natural gas liquids traded down on the week, though they remain up significantly since mid-2013 lows.

The EIA estimated that OPEC’s spare crude oil production capacity fell by 36,277 bpd to 2.32 MMbpd in April 2017—compared to March 2017.

Market surveys estimate that Cushing crude oil inventories rose from March 3–10. A rise in crude oil inventories could pressure US crude oil prices.

In the past five trading sessions, natural gas April futures have risen 1%, closing at ~$3.01 per MMBtu on March 22, 2017—2.7% lower than the prior session.

Reuters surveys estimate that Libya’s crude oil production rose by 180,000 bpd (barrels per day) to 730,000 bpd in May 2017—a three-year high.

February US crude oil (UWT) (USL) futures contracts rose 0.5% to $61.73 per barrel on January 8. Prices are near the highest level since December 2014.

The EIA reported that US crude oil production rose by 17,000 bpd to 9,252,000 bpd on April 7–14, 2017. Production rose 0.2% week-over-week.

A Bloomberg survey estimates that the crude oil inventories at Cushing could have declined by 2.3 MMbbls (million barrels) on January 12–19, 2018.

US crude oil inventories hit an all-time high of 543.6 MMbbls in the week ending April 29, 2016. This will limit the upside potential for crude oil prices.