Prices Pressured Despite Crude Oil and Stocks Withdrawals
[contextly_auto_sidebar] US crude oil stocks decreased by 1.7 MMBbl. Gasoline and distillate inventories decreased 3.1 MMBbl and 2.7 MMBbl, respectively. Yesterday afternoon, API reported a crude oil build of 4.45 MMBbl alongside a gasoline draw of 0.7 MMBbl and a distillate draw of 3.5 MMBbl. Analysts were expecting a crude oil build of 2.2 MMBbl. […]
Federal Lands Fracking Ban Target?
With politics starting to heat up for primaries as we head into the end of year, fracking has taken a front seat in a bad way. Every Democratic front-runner has stated a ban or limitation to fracking in the U.S. While few believe they could pass a total ban on fracking, it is not out […]
The Week Ahead For Crude Oil, Gas and NGLs Markets – October 21, 2019
[contextly_auto_sidebar] CRUDE OIL US crude oil inventories posted a substantial increase of 9.3 MMBbl last week, according to the weekly EIA report. Gasoline and distillate inventories decreased 2.6 MMBbl and 3.8 MMBbl, respectively. Total petroleum inventories decreased 1.6 MMBbl. US crude oil production was unchanged from the previous week, per EIA, while crude oil imports […]
Sharing the Gift
For those of us who have had the great, good fortune to be paid to use our brains to find oil & gas, and to maximize its production, please give some thought to building that opportunity for the generations to come. Building a career in the geosciences for a number of us was probably a […]
Tenth Triple-Digit Injection Reported in 2019, Cove Point Resumes Exports
[contextly_auto_sidebar] Natural gas storage inventories increased 104 Bcf for the week ending October 11, according to the EIA’s weekly report. This is slightly lower than the market expectation, which was an injection of 108 Bcf. The injection this week ties 2019 with 2014 for the most 100+ Bcf injections, at ten. Working gas storage inventories […]
Large Crude Oil Build Pressure Prices
[contextly_auto_sidebar] US crude oil stocks increased by 9.3 MMBbl. Gasoline and distillate inventories decreased 2.6 MMBbl and 3.8 MMBbl, respectively. Yesterday afternoon, API reported a crude oil build of 10.5 MMBbl alongside a gasoline draw of 0.93 MMBbl and a distillate draw of 2.9 MMBbl. Analysts were expecting a crude oil build of 4.0 MMBbl. […]
A PJM Load Forecast Error Exposed Utilities to Potential Losses of Millions of Dollars
In a recent post, we examined how energy investors and traders can use Enverus Trading & Risk’s PRT, the market’s most accurate forecast tool, to identify future money-making opportunities with pinpoint accuracy. In the wake of a PJM load error this month that caused a huge real-time price spike, let’s look at how PRT helps […]
Already Sluggish OFS M&A Activity Slows to a Crawl in Q3
The M&A market in oilfield services ground to a virtual halt in Q3, its slowest in deal value in at least five years, according to the Enverus Drillinginfo M&A Database. Combined, the entire sector produced only $2.53 billion in combined deal value in Q3—less than Transocean’s acquisition of OceanRig UDW in September 2018. All of […]
The Week Ahead For Crude Oil, Gas and NGLs Markets – October 14, 2019
[contextly_auto_sidebar] CRUDE OIL US crude oil inventories posted an increase of 2.9 MMBbl last week, according to the weekly EIA report. Gasoline and distillate inventories decreased 1.2 MMBbl and 3.9 MMBbl, respectively. Total petroleum inventories decreased 8.3 MMBbl. US crude oil production increased 200 MBbl/d, per EIA, while crude oil imports were down 0.67 MMBbl/d, […]
Gas Injection Misses Low of Expected Triple-Digit Injection
[contextly_auto_sidebar] Natural gas storage inventories increased 98 Bcf for the week ending October 4, according to the EIA’s weekly report. This is slightly lower than the market expectation, which was an injection of 101 Bcf. Working gas storage inventories now sit at 3.415 Tcf, which is 472 Bcf above inventories from the same time last […]