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No Joy in Mudville*: Shale Gas Stalls, LNG Export Dead On Arrival

Something unusual happened while we were focused on the global oil-price collapse-the increase in U.S. shale gas production stalled (Figure 1). Figure 1. U.S. shale gas production. Source: EIA and Labyrinth Consulting Services, Inc. Total shale gas production for June was basically flat compared ...
» Written by Art Berman on Friday, July 31, 2015

Oil Industry Service Sector - Nimble Like a Ninja

Just like a ninja, the oil industry service sector has responded to the demands of the market place and reduced the cost of doing business in the upstream world by more than 15% in just six months. It turns out that I was a pessimist when I first wrote about this in February 2015. I thought then th...
» Written by Stephen A. Brown on Friday, July 31, 2015

In deep water: oil & gas projects in disputed international waters

Since 1994, the 167 parties to the United Nations Convention on the Law of the Sea have been required to abide by the Convention when looking to procure an offshore oil & gas project, amongst other activities. The Convention established four possible outlets in which any disputes related to interna...
» Written by Sarah Vasani and Charity Kirby on Friday, July 31, 2015

Oil price, Empyrean, Sundry-BG-Conoco-IOG-Parkmead- And finally...

Oil price A very quiet day in the oil markets with traders telling me that there were few influences which meant that prices moved a bit with a drift at the end. Even supposedly bullish comments from the Opec Secretary General in Moscow were unable to boost prices. In fact his statement that increa...
» Written by Malcolm Graham-Wood on Friday, July 31, 2015


US Shale Oil: drilling productivity and decline rates

Summary The EIA drilling productivity report has been used to estimate decline rates in the Bakken, Eagle Ford and Permian light tight oil (LTO or shale) plays (Figure 1). The objective is to estimate how far production will fall in these plays in light of the sharp decline in US rig count. The rati...
» Written by Euan Mearns on Thursday, July 30, 2015

Oil price, Shell, Sundry-Anadarko-Cape-TipTV on IOG,BLVN,VOG,AMER,PANR, And finally...

Oil price WTI rose for the first time in five trading sessions yesterday after a set of inventory stats yet again flummoxed Wall Street's finest. The EIA numbers came in with a stock draw of 4.2m barrels with the teenage scribblers having crayoned in a small rise, better luck next time kids. Seriou...
» Written by Malcolm Graham-Wood on Thursday, July 30, 2015

Why local content in Africa's extractive sector won't work without home grown human capital

For over 30 years many African countries have been exploring their natural resources, whether oil, gas or minerals. In the last ten years many more have joined the natural resource exploitation club. Many have also witnessed economic growth and development. Significant investments have been poured ...
» Written by Akanimo Odon, Lancaster University on Wednesday, July 29, 2015

This Trade is So Simple Your Grandma Would Get It

The Obvious Trade That The Entire Market Has Missed It is as plain as the nose on your face but it has been missed by virtually everyone, especially the analyst community. Yesterday (Monday) was the first time I saw an energy analyst on TV talking about this issue. There is a surge in the level of...
» Written by Keith Schaefer on Wednesday, July 29, 2015

Oil price, Tullow, Hurricane, And finally...

Oil price A very short blog again this morning, company news is thin on the ground and I am off to TipTV to run through a few stocks. A bit mixed yesterday, the market sort of followed the greenback which is not surprising and the news from China seemed a little better, at least not much worse. Wh...
» Written by Malcolm Graham-Wood on Wednesday, July 29, 2015

Obama: Iranian oil, good. Canadian oil, bad. American oil, bad.

President Obama's confusing approach to energy encourages our enemies who shout 'death to America,' while penalizing our closest allies and even our own job creators. Iran's participation in the nuclear negotiations that have slogged on for months, have now, ultimately, netted a deal that will allo...
» Written by Marita Noon on Tuesday, July 28, 2015

Oil price, BP, Trap/Jersey, Global Petroleum, Sundry-Pantheon-Gulf Keystone- And finally...

Oil price If it wasn't already an element in the oil price then volatility in Chinese markets certainly is now, with commodity bears reading badly into recent data and thinking a hard landing scenario all over again. Yesterday might have been worse but for a weak dollar which saved a few blushes bu...
» Written by Malcolm Graham-Wood on Tuesday, July 28, 2015

How O&G companies can protect credibility and reputation in a crisis

'It takes 20 years to build a reputation and five minutes to ruin it. If you think about that you'll do things differently.' Warren Buffet There are a number of companies in the hydrocarbons' sector that have learnt this the hard way. That is arguably because crises in the oil and gas industry ar...
» Written by Mark Wenham on Monday, July 27, 2015

US Shale Oil: drilling productivity and decline rates

Summary The EIA drilling productivity report has been used to estimate decline rates in the Bakken, Eagle Ford and Permian light tight oil (LTO or shale) plays (Figure 1). The objective is to estimate how far production will fall in these plays in light of the sharp decline in US rig count. The rati...
» Written by Euan Mearns on Monday, July 27, 2015

Rig Count Increases by 19 As Oil Prices Plunge - What Are They Thinking?

The U.S. rig count increased by 19 this week as oil prices dropped below $48 per barrel-the latest sign that the E&P industry is out of touch with reality. The last time the rig count increased this much was the week ending August 8, 2014 when WTI was $98 and Brent was $103 per barrel. What are th...
» Written by Art Berman on Monday, July 27, 2015

The Evolution of Subsea EPC

The subsea sector is highly consolidated with just five players servicing the $12billion annual requirements of the global E&P community. The two largest, FMC and OneSubsea, account for approximately two-thirds of the market but despite this, have shown no signs of resting on their laurels, forging ...
» Written by Michelle Gomez on Monday, July 27, 2015

Oil price, Bowleven, Cuadrilla, And finally...

Oil price The oil price looks like barring a miracle that it will have another down week, WTI has not only crashed through the $50 support but the $49 level too as a combination of stock build and oversupply gives the market the jitters. At this level WTI is now well over 20% off its June peak of $6...
» Written by Malcolm Graham-Wood on Friday, July 24, 2015

Sell Your Oil Stocks. Here's What I'm Buying. And Here's Why.

Rig productivity increases dramatically as the rig count in an area decreases-data from the EIA show productivity increases as much as 50%! It means US oil production will not follow anywhere close to the same trajectory the rig count has (i.e. falling off a cliff), and it also means the number of ...
» Written by Keith Schaefer on Friday, July 24, 2015

Nine Reasons Why Low Oil Prices May 'Morph' Into Something Much Worse

Why are commodity prices, including oil prices, lagging? Ultimately, it comes back to the question, 'Why isn't the world economy making very many of the end products that use these commodities?' If workers were getting rich enough to buy new homes and cars, demand for these products would be raising...
» Written by Gail Tverberg on Thursday, July 23, 2015

Oil price, Victoria Oil & Gas, Europa Oil & Gas, Bahamas Petroleum, Sundry-Weatherford-Tethys- And finally...

Oil price Another day of weakness for crude oil, particularly WTI after the inventory stats yet again foxed the analytical community. The EIA reported a build of some 2.5m barrels when the consensus was for a draw of 2.3m barrels and the market didn't like it, dropping WTI below the important $50 l...
» Written by Malcolm Graham-Wood on Thursday, July 23, 2015
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