The Week Ahead For Crude Oil, Gas and NGLs Markets – August 26, 2019
[contextly_auto_sidebar] CRUDE OIL US crude oil inventories posted a decrease of 2.7 MMBbl last week, according to the weekly EIA report. Gasoline and distillate inventories increased 0.3 MMBbl and 2.6 MMBbl, respectively. Total petroleum inventories posted a build of 4.0 MMBbl. US crude oil production was flat versus the week prior, per EIA, while crude […]
PDC Energy Announces Strategic Combination with SRC Energy in All-Stock Transaction
Two major DJ Basin producers are merging this morning with the combination of PDC Energy and SRC Energy in an all-stock transaction valued at $1.7 billion including assumption of SRC’s net debt of $685 million. The deal creates the second largest producer in the DJ Basin (behind the pro-forma numbers of the Oxy/Anadarko combination created […]
Permian Flaring Approaching Record in August, but Relief Is on the Way
Enverus’s analysis of infrared data collected from NOAA’s Visible Infrared Imaging Radiometer Suite (VIIRS) platform suggests that August may be a record month for flaring in the Permian Basin, but relief is in sight in the form of the Gulf Coast Express pipeline. As oil production has ramped up in the Permian, so too has the production of natural gas from the […]
Crude Oil Inventory Draw First Time in 3 Weeks Lends Some Support to Prices
[contextly_auto_sidebar] US crude oil stocks posted a decrease of 2.7 MMBbl from last week. Gasoline and distillate inventories increased by 0.3 MMBbl and 2.6 MMBbl, respectively. Yesterday afternoon, API reported a crude oil draw of 3.5 MMBbl, while reporting a gasoline draw of 0.4 MMBbl and a distillate build of 1.8 MMBbl. Analysts were expecting […]
The Week Ahead For Crude Oil, Gas and NGLs Markets – August 19, 2019
[contextly_auto_sidebar] CRUDE OIL US crude oil inventories posted an increase of 1.6 MMBbl last week, according to the weekly EIA report. Gasoline inventories decreased 1.4 MMBbl, while distillate inventories also decreased, shedding 1.9 MMBbl/d. Total petroleum inventories posted a build of 2.4 MMBbl. US crude oil production was flat versus the week before, per EIA, […]
Gas Injection Below Expectations, Prices Steady
[contextly_auto_sidebar] Natural gas storage inventories increased 59 Bcf for the week ending August 16, according to the EIA’s weekly report. This is below the market expectation, which was an injection of 65 Bcf. Working gas storage inventories now sit at 2.797 Tcf, which is 369 Bcf above inventories from the same time last year and […]
Drillinginfo Announces Name Change to Enverus
August 22, 2019
Gas Storage Injection Misses Low, Prices Rally
[contextly_auto_sidebar] Natural gas storage inventories increased 49 Bcf for the week ending August 9, according to the EIA’s weekly report. This is well below the market expectation, which was an injection of 61 Bcf. Working gas storage inventories now sit at 2.738 Tcf, which is 357 Bcf above inventories from the same time last year […]
Prices Drop Due to an Inventory Build and Trade Wars Will Keep the Pressure On Prices
[contextly_auto_sidebar] US crude oil stocks posted an increase of 1.6 MMBbl from last week. Gasoline and distillate inventories decreased by 1.4 MMBbl and 1.9 MMBbl, respectively. Yesterday afternoon, API reported a crude oil build of 3.7 MMBbl, while reporting a gasoline build of 3.7 MMBbl and a distillate draw of 1.3 MMBbl. Analysts, to the […]
Five Reasons Why You Should Attend the 2019 Business Automation User Conference
Something I find exciting about the oil & gas industry is the constantly changing nature of the business. In such a dynamic and innovative industry, back-office processes for many companies remain the same as they were 50 years ago – and they involve paper. Oil & gas producers and suppliers learned a hard lesson as […]