Forecast
News
April 15, 2015
Despite major cost reduction measures, first-quarter earnings for supermajors are expected to be the weakest in recent memory, according to Douglas-Westwood's DW Monday.
News
April 03, 2015
Iran’s accord with world powers brings the OPEC member a step closer to restoring oil production that was cut by sanctions while leaving unresolved when it will happen.
News
March 13, 2015
Mexico’s National Hydrocarbons Commission lowered the country’s estimates for proven oil reserves and state-run Petroleos Mexicanos cut its 2015 production forecast after crude prices collapsed and its budget was reduced.
News
March 10, 2015
Oil traded near $50/bbl after the U.S. government forecast that the nation’s supply growth will slow next month, prompting speculation a global glut will ease.
News
March 09, 2015
Oil fell in London for a fourth day after China reduced crude imports. Futures advanced in New York after an industry survey was said to report a slowdown in crude stockpile increases at Cushing, Oklahoma.
News
March 04, 2015
Exxon Mobil Corp. is sticking to production targets established when oil traded for more than $100/bbl, signaling confidence that demand for crude-based fuels will continue to expand.
News
February 19, 2015
U.S. Sen. Lisa Murkowski, R-Alaska, Chairman of the Senate Energy and Natural Resources committee, and Sen. Heidi Heitkamp, D-N.D., have joined with 19 of their Senate colleagues on a bipartisan letter to U.S. Commerce Secretary Penny Pritzker encouraging the administration to authorize oil exports to Mexico under the same conditions established for exports to Canada.
News
February 19, 2015
The biggest, fastest-growing oil producer in the U.S. said it plans to halt output growth this year, delivering a signal that shale companies are beginning to do what it takes to reduce oversupplies.
News
February 16, 2015
Chevron has reached a settlement agreement with James Russell DeLeon, the principal funder of the fraudulent lawsuit against Chevron in Ecuador.
News
February 16, 2015
International accountant and shipping adviser Moore Stephens has said that companies in the offshore maritime sector need to keep a close watch on costs and manage their exposure to risk in the wake of the dramatic fall in oil prices.
News
February 13, 2015
WPX Energy has announced a 2015 capital investment plan of approximately $725 million (midpoint), in line with the company’s projected operating cash flow.
Article
February 2015
An oversupplied market spells a difficult year ahead for operators, although less so for activity outside North America.
Article
February 2015
The number of producing gas wells in the U.S. rose significantly over the course of the last year, despite prices that seldom crept above $4/MBtu. In 2013, there were 485,000 active producing gas wells in the U.S. In 2014, that number rose to 514,782.
Article
February 2015
The number of producing oil wells in the U.S. rose 3.5% in 2014, to an estimated 600,679. This figure is in line with the 2012-2013 improvement of 3.5%.
Article
February 2015
Crude oil and condensate. U.S. crude oil production surged broadly across different regions in 2014, particularly in the Bakken and Eagle Ford shale plays of North Dakota and Texas, respectively. Crude oil prices spent much of the summer of 2014 hovering above $100/bbl, which kept operators’ gaze firmly fixed on petroleum liquids. As prices declined modestly into the fall, production kept up a blistering pace, surpassing 9 MMbpd in October.
Article
February 2015
While the ongoing oil-price decline is bound to affect the U.S. rotary rig count in the coming year, 2014 saw a significant increase over the previous year—especially in the regions where one might expect that to happen. The average rig count for 2014 was above 1,860 rigs running, a 6% increase year-over-year, or about 100 rigs higher. The Permian basin of West Texas and New Mexico experienced the greatest increase in activity, with the rig count rising 16% to 17% on average, or about a 60-rig improvement. Activity in the Eagle Ford shale region of south-central Texas shot up about 35%, or an average of 16 additional rigs running for the year.
Article
February 2015
A Republican tsunami in the 2014 midterm elections could be good news for the energy industry. With solid majorities in both houses of Congress, Republicans are in a position to heavily influence the direction of U.S. energy policy. However, many new oil & gas-related regulations are being considered and implemented.
Article
February 2015
An $85/bbl oil price outlook is maintained for 2016, as weak oil prices, balance sheets, and significantly reduced drilling activity will create a net, non-OPEC supply decline in 2016. For North American natural gas, it is much the same story—less drilling activity makes for less gas production growth in 2016, and a much tighter market.
Article
February 2015
E&P spending may fall below $700 billion in 2015, as budgets will be dictated by cash flow and access to capital, according to a survey of the spending plans of approximately 300 companies worldwide.
News
February 11, 2015
Apollo Global Management LLC’s head of energy investing said the worst is still to come for oil as OPEC may decide against cutting production for years.
News
February 11, 2015
Crude demand is improving amid signs prices are stabilizing, the state-run Saudi Press Agency reported, citing Saudi Arabia’s Oil Minister Ali al-Naimi.
