WPX Energy Inc
What’s the EIA Forecasting for Natural Gas Prices for 2017?
According to CHK’s December 2016 presentations, break-even prices in the Marcellus and Utica Shales are $2.00 per MMBtu and $2.15 per MMBtu, respectively.
Cushing Crude Oil Inventories: What Does the Future Hold?
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.
Natural Gas Could Test the Key Support of $2.50 per MMBtu
The key support level for natural gas is seen at $2.50 per MMBtu. Prices hit this mark multiple times in April 2015. Resistance is seen at $2.75 per MMBtu.
Inconclusive weather forecasts control natural gas prices
Natural gas prices continued their declining trend from last week due to mild weather forecasts on the East Coast from December 13 through December 22.
Crude Oil Continues to Trade Higher This Morning
Crude oil continues to trade higher due to positive sentiment surrounding the crude oil market. At 7:38 AM EST, WTI crude was trading at $44.88 per barrel.
Why WPX Energy’s Normalized Free Cash Flows Rose
For 9M17 (the first nine months of 2017), WPX Energy (WPX) had normalized free cash flows (or FCF) of about -275%, the fifth lowest among the crude oil (USO) and natural gas (UNG) producers we have been tracking.
Winter expectations drive natural gas prices
Natural gas prices started the week on a strong note following cold weather forecasts in the days to come.
Anadarko Petroleum Ranks Seventh in Terms of Cash Flow Growth
In this article, we’ll look into the cash flow growth expectations of Anadarko Petroleum (APC).
Natural Gas Is Falling: Expect Stocks to Decline
On February 8, 2018, the EIA will report natural gas inventory data for the week ending February 2, 2018. The market expects a fall of 116 Bcf.
Did Natural Gas–Weighted Stocks Outperform Natural Gas?
Between June 13 and June 20, our equally weighted basket of natural gas–weighted stocks rose 4.6%—compared to a 6.2% rise in natural gas for the same period.
Large Build in US Natural Gas Inventories Pressured Gas Prices
The EIA reported that US natural gas inventories rose by 74 Bcf (billion cubic feet) to 2,189 Bcf on April 14–21. Inventories rose 3.5% week-over-week.
Is the US Rig Count Fall Steadying?
The four-week average fall in the US rig count was at eight for the week ending November 25. Four-week averages offer a broader view of the rig counts.
How Oil Prices Matter to Natural Gas
Between October 18 and October 25, 2017, natural gas active futures had a correlation of 27.4% with US crude oil futures.
What Are Leon Cooperman’s Top Holdings?
In Q3, billionaire investor Leon Cooperman’s top five holdings were Fiserv, Alphabet, United Continental, Chimera Investment, and Cigna.
Natural Gas Supplies Rose for the Week Ended August 17
The EIA (U.S. Energy Information Administration) reported that US natural gas production averaged 78.9 Bcf per day in July 2016.
Natural Gas near $3: Which Gas-Weighted Stocks to Ride?
On March 6, 2017, natural gas futures contracts for April 2017 delivery closed at $2.9 per MMBtu, which is ~2.6% above the previous closing price.
How the Inventory Spread Could Boost Natural Gas Prices
In the week ended October 6, natural gas inventories rose by 87 Bcf (billion cubic feet) to 3,595 Bcf—13 Bcf more than the market expected inventories to rise.
Where US Crude Oil Prices Could Close Next Week
On August 9, US crude oil’s implied volatility was 23.1%, which was ~1.3% below its 15-day average.
Inventories Spread: Will a Flip Save Natural Gas Bulls?
In the week ended September 29, 2017, natural gas inventories rose by 42 Bcf (billion cubic feet) to 3,508 Bcf, according to the EIA (US Energy Information Administration) report on October 5, 2017.
Natural Gas Prices Fall Ahead of Expiry
Natural gas futures contracts for October delivery fell by 1.04% on September 25, 2015. Natural gas prices fell due to oversupply concerns.
Cold Weather Estimates Drive Natural Gas Prices Higher
NYMEX-traded natural gas for May increased by 1.54% on April 21, 2015. Prices increased due to cold weather estimates. This could increase the demand for natural gas.
Are Oil-Weighted Stocks and US Crude Oil Deviating?
Between February 11, 2016, and April 4, 2018, US crude oil active futures rose 141.8% from their 12-year low.
Which Events Could Drive Oil Prices This Week?
Energy stocks like WPX Energy (WPX), Denbury Resources (DNR), and Whiting Petroleum (WLL) will likely be sensitive to oil and natural gas prices.
Will Oil Producers’ Meeting Support Crude Oil Prices in September?
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.
WPX Energy Missed 1Q16 Earnings Estimate by 2 Cents
WPX Energy (WPX) announced its 1Q16 earnings on May 4, 2016, after the Market closed. WPX reported an adjusted loss of $0.21 per share, which was $0.02 lower than analysts’ consensus.
Rebound in Natural Gas Didn’t Help Gas-Weighted Stocks
On March 3, 2016, natural gas futures touched a 17-year low. From March 3, 2016, to March 13, 2017, natural gas rose 85.4% on a closing price basis.
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.
Natural Gas’s Rise: Why Gas-Weighted Stocks Are Underperforming
Between March 20, 2017, and March 27, 2017, natural gas futures contracts for May 2017 rose 1%. The commodity saw the small gain due to slightly bullish inventory data.
What Made Crude Oil Spike on Wednesday?
Crude oil started Wednesday on a weaker note as the oil worker strike in Kuwait was called off. But later in the day, crude oil was supported by the better-than-expected US crude oil inventories report.
Pioneer Natural Resources: How Did It Perform in 1Q16?
Pioneer Natural Resources (PXD) announced its 1Q16 earnings on April 25, 2016, after the market close.
Can US Crude Oil’s Recovery Be Sustained?
On June 11, US crude oil July futures rose 0.5% and settled at $66.10 per barrel.
Which Natural Gas–Weighted Stocks Could Follow Oil?
WPX Energy had the lowest correlation with natural gas prices in the past five trading sessions. Southwestern Energy had among the highest correlations.
What to Expect from Natural Gas Prices
As of April 13, 2017, US natural gas prices were 19% below their 15-month high. They fell due to warmer-than-normal weather for this time of year.
Winter Weather and Inventories Could Impact Natural Gas Prices
Aegent Energy Advisors estimates that US natural gas prices are expected to trade below $3.27 per MMBtu this winter from November 2016 to March 2017.
Mild Weather Drags Natural Gas Prices Lower
Natural gas futures contracts for November delivery fell for the second day. Prices fell by 0.94% and settled at $2.43 per MMBtu on October 16, 2015.
Are Natural Gas Prices Underperforming Crude Oil?
Between October 25 and November 1, US crude oil futures rose 4.1%, while natural gas futures fell 6.1%.
Why US Crude Oil Production Hit a 5-Week Low
The US Energy Information Administration (or EIA) released its “Weekly Petroleum Status Report” on October 12. It estimates that US crude oil production fell by 81,000 bpd (barrels per day).
US Natural Gas Prices Hit a 2016 High: What’s Next?
Natural gas prices rose due to cold weather forecasts and the bullish US natural gas inventory report. Prices hit a 2016 and two-year high.
Why Einhorn’s hedge fund bought a position in Intrexon Corp.
In this seven-part series, we’ll go through some of the main positions Greenlight Capital LP traded this past quarter. Why buy Intrexon Corp. (XON)?
Why Did Chesapeake Energy’s Stock Fall Last Week?
In the two weeks since January 6, 2017, Chesapeake Energy (CHK) has returned about -4.6%, underperforming the energy sector.
Will US Natural Gas Futures Test 2016 High?
As of May 4, 2017, June natural gas futures are above their 50-day and 200-day moving averages.
Oil Rigs Are the Biggest Concern for Natural Gas
In the week ending November 10, 2017, the oil rig count rose by nine—the largest rise since June 30, 2017. Strong oil prices spurred the rise.
Analyzing Natural Gas Stocks and Natural Gas
On March 3, 2016, natural gas futures touched a 17-year low of $1.64. From March 3, 2016, to February 13, 2017, natural gas rose 79.3%.
Inside Chesapeake Energy’s 2016 Performance
Chesapeake has made it out of its volatile 2016 days and has given better returns than the SPDR S&P Oil & Gas Exploration & Production ETF (XOP).
Is Oil Contributing to Natural Gas–Weighted Stocks’ Moves?
EQT (EQT) had a correlation at 53.3% with oil prices in the trailing week. It was the natural gas–weighted stock that might escape oil’s moves.
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.
Why Oil Rigs Could Pressure Natural Gas Prices in the Coming Months
In the week ended January 19, 2018, the natural gas rig count was 88.2% below its historic high of 1,606 in 2008.
Futures Spread: Divergence Is Important for Oil Traders
On December 3, US crude oil January 2019 futures closed ~$1.12 below the January 2020 futures.
Oil-Weighted Stocks at Maximum Risk, Oil Declines
On October 17, US crude oil November futures fell 3% and closed at $69.75 per barrel—below $70 for the first time since September 18.
Oil Is an Important Factor for Natural Gas–Weighted Stocks
On our list of natural gas–weighted stocks that are taken from XOP, none of the stocks had a correlation of less than 50% with US crude oil futures.
OPEC Failed to Set an Output Ceiling but Crude Oil Rose
July WTI crude oil futures contracts trading on NYMEX rose by 0.33% to settle at $49.17 per barrel on June 2, 2016.
Are Natural Gas–Weighted Stocks Following Oil?
Range Resources had the highest correlation of 77.4% with US crude oil active futures in the last five trading sessions among natural gas–weighted stocks.
Monthly US Crude Oil Production Benefits the Crude Oil Market
The EIA reported that monthly US crude oil production fell by 193,000 bpd to 8,704,000 bpd in June 2016—compared to the previous month.
Natural Gas Prices Are below Key Moving Averages
For the week ending February 10, US natural gas inventories are 11% lower than the same period in 2016. Falling inventories will support natural gas prices.
Natural Gas Prices Fall before the Natural Gas Inventory Data
NYMEX-traded natural gas futures contracts for November delivery fell by 3.20% on September 29. Prices fell due to the consensus of moderate weather and rising inventory.
Wall Street’s Forecasts for EOG Resources before Its 3Q15 Earnings
Wall Street’s forecasts for EOG Resources had 68% of analysts rate it as “buy,” 29% rate it as “hold,” and 3% recommend as “sell”.
Why the Permian Has Been Important for Apache This Year
The Permian Basin has seen a flurry of deals over the past year. According to the EIA, 2016 saw higher M&A (merger and acquisition) activity than 2015.
The Rise or Fall of US Natural Gas Prices in 2Q17
As of April 6, 2017, US natural gas prices are above their 20-day, 50-day, 100-day, and 200-day moving averages. That suggests a bullish momentum for natural gas.
Which Oil-Weighted Stocks Might Rise with Oil?
On February 27, US crude oil April futures rose 2.6% and closed at $56.94 per barrel due to the EIA’s bullish inventory data.
Why Einhorn opened a new position in Tempur Sealy International
Einhorn acquired a small position (0.9%) in Tempur Sealy International Corp in 3Q 2013. Tempur Sealy International posted 111.4% increase in 3Q 2013 net sales.
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.
PE Was One of the First to Add More Permian Assets in 2017
On January 10, 2017, Parsley Energy (PE) announced a $607 million acquisition in the Midland and Delaware basins of the Permian Basin.
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.
Comparing the Fall in Oil ETFs and Oil Last Week
On August 3–10, USO fell 1.3%, USL fell 0.5%, and UCO fell 2.8%. These ETFs track US crude oil futures.
Iran Running Out of Options: Could Oil Spike?
From June 29 to July 6, US crude oil August futures fell 0.5%. On July 6, US crude oil August futures settled at $73.80 per barrel.
Why Einhorn sold Greenlight’s position in State Bank Financial
Einhorn exited a 0.5% position in State Bank Financial Corp. He had purchased these shares in 2Q 2011. Net income for 3Q 2013 was $4.3 million.
Analysts Are Bullish about US Natural Gas Prices in 2017
Aegent Energy Advisors estimates that US natural gas prices are expected to trade below $3.27 per MMBtu (million British thermal units) this winter.
Rise in Natural Gas Isn’t Good for Gas-Weighted Stocks
On March 3, 2016, natural gas futures touched a 17-year low. From March 3, 2016, to March 20, 2017, natural gas rose 85.4% on a closing price basis.
US Natural Gas Production Fell Last Week
PointLogic reported that weekly US dry natural gas production fell 0.6% to 69.8 Bcf (billion cubic feet) per day from March 16–22, 2017.
Natural Gas Prices Rise Due to Cold Weather Estimates
November natural gas futures contracts trading in NYMEX rose by 1.50% on Monday, September 28. Natural gas prices rose due to cold weather estimates.
Which Gas-Heavy Stocks Outperformed amid Falling Natural Gas?
Between February 10, 2017, and February 17, 2017, natural gas futures contracts for March 2017 delivery fell 6.6%.
US Dollar Hits Lowest in 8 Months and Supports Crude Oil Prices
Crude oil prices have been on a roller coaster ride. WTI oil prices have rallied 52% since their lows from February 2016.
Could the Inventories Spread Pull Natural Gas Prices Down?
Inventory data In the week ended September 15, 2017, natural gas inventories rose 97 Bcf (billion cubic feet) to 3,408 Bcf, 4 Bcf more than the market had expected. The EIA (U.S. Energy Information Administration) reported this data on September 21, 2017. That day, natural gas November futures fell 4.5%. Inventories spread The difference between natural […]
Natural Gas Drops below $3: Which Gas-Weighted Stocks Could Fall?
On October 2, 2017, natural gas (UNG) (BOIL) (FCG) November futures closed at $2.92 per MMBtu (million British thermal units), 3% down from the last trading session.
Natural Gas–Weighted Stocks That Are Rising with Oil Prices
From October 23–30, 2017, our list of natural gas–weighted stocks rose 2.2%. Natural gas (USO) (DBO) December futures fell 6% over this same time period.
Natural Gas Prices Fall despite the Warm Weather Consensus
NYMEX-traded natural gas futures contracts for October delivery fell by 1.09% on September 15. Natural gas prices fell despite the warm weather consensus.
How Hedge Funds Feel about Natural Gas Right Now
On September 29, the CFTC (U.S. Commodity Futures Trading Commission) is slated to release its weekly “Commitment of Traders” report.
Inventories Spread: What to Expect from Natural Gas
The market expects a rise of 63 Bcf in natural gas inventories for the week ending September 1, 2017. The EIA will report the data on September 7, 2017.
Why Are Analysts Bullish on US Natural Gas Prices in 2017?
US natural gas inventories are 0.6% less than the five-year average. Falling natural gas inventories will support natural gas (FCG) (DGAZ) (BOIL) prices.
US Natural Gas Consumption Could Help the Prices
US natural gas consumption fell 0.17% to 57.1 Bcf/d (billion cubic feet per day) on October 12–18, 2017. It rose 3.1% from the same period in 2016.
How Do US Large-Cap Equity Mutual Funds Look after 1Q16?
In this series, we’ll look at 1Q16 results for some of the largest US large-cap equity mutual funds. 1Q16 was a mixed bag, with a few funds seeing gains.
Inflows Fall While Yields on High Yield Bond Funds Surge
Investor flows in high yield bond funds were positive for the third successive week last week, but their volume fell sharply.
How Natural Gas–Weighted Stocks Compared with Natural Gas’s Fall
From November 20 to November 27, 2017, natural gas–weighted stocks fell 1.3% on average, compared to the 3.9% decline in natural gas prices during this timeframe.
Natural Gas Prices Fall for the Fourth Day Due to Mild Weather
NYMEX-traded natural gas futures contracts for October delivery fell on September 18. The consensus of mild weather estimates pushed natural gas prices lower.
Falling Inventories Didn’t Help Oil’s Rise
Since the latest EIA (U.S. Energy Information Administration) data were released on January 4, US crude oil February futures have risen 1.2%.
US Natural Gas Price Forecasts for 2017 and 2018
The EIA estimates that US natural gas prices could average $3.55 per MMBtu in 2017 and $3.73 per MMBtu in 2018. Prices averaged $2.51 per MMBtu in 2016.
Will US Natural Gas Futures End 2017 on a Low Note?
January US natural gas (UGAZ) futures contracts were below their 100-day, 50-day, and 20-day moving averages on December 21, 2017.
US Crude Oil Is at a 3-Year High
On April 18, 2018, US crude oil June futures rose 2.9% and closed at $68.47 per barrel—the highest closing level since December 2014.
Why Loeb Cut Exposure to Netflix, Microsoft, and Alibaba in Q4
In its third-quarter letter to investors, Third Point told investors that it reduced its “tech exposure meaningfully.”
Key Events Could Impact Your Energy Portfolio This Week
On March 23–29, 2018, WPX Energy, Denbury Resources, and Whiting Petroleum’s prices rose 2.2%, 1.9%, and 0.7%, respectively.
Analyzing Gas-Heavy Stocks amid Falling Natural Gas Prices
From February 17–27, 2017, natural gas futures contracts for April 2017 delivery fell 8.8%. On March 3, 2016, natural gas futures touched a 17-year low.
Oil-Weighted Stocks Could Be Influenced by Volatile Oil Prices
On December 19, US crude oil February futures rose 3.4% from the lowest closing level in more than a year and closed at $48.17 per barrel.
API and EIA’s Crude Oil Inventories: Will They Mirror Each Other?
The API released its weekly crude oil inventories report on June 21, 2016. It stated that US crude oil inventories fell by 5.2 MMbbls between June 10 and June 17.
A Large Fall in EIA Data Might Help Oil Prices to Rise
In the week ending on December 21, US crude oil inventories were 7% higher than their five-year average—unchanged from the previous week.
API Data and the EIA’s Crude Oil Inventory Expectations Diverge
The API released its weekly crude oil inventory report on June 1. US crude oil inventories rose by 2.4 MMbbls for the week ending May 27, 2016.
Will US Natural Gas Prices Hit $2.25 per MMBtu?
The EIA (U.S. Energy Information Administration) estimates that US natural gas prices could average $3.43 per MMBtu in 2017 and $3.70 per MMBtu in 2018.
Will US Natural Gas Inventories Impact Natural Gas Prices in 2017?
Falling US natural gas inventories during the winter season could support US natural gas (FCG) (BOIL) (UNG) (GASL) prices, particularly if demand is strong.
Natural Gas Stockpile Report Drives Natural Gas Prices
The EIA released its weekly natural gas stockpile report on October 8. Natural gas stockpile rose 95 Bcf in the week ended October 2. Natural gas inventory rose 98 Bcf in the week ended September 25.
Diesel Fuel Prices Fell Marginally for the Week Ending April 4
The EIA reported that US on-highway diesel fuel prices fell marginally by 0.3% to $2.1 per gallon on April 4, 2016—compared to the previous week.
What Are the Implied Volatilities of Crude Oil and Natural Gas?
Crude oil’s (USO) (OIIL) implied volatility was 41.3% on July 8, 2016.