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 […]
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, […]
The Week Ahead For Crude Oil, Gas and NGLs Markets – August 12, 2019
[contextly_auto_sidebar] CRUDE OIL US crude oil inventories posted an increase of 2.4 MMBbl last week, according to the weekly EIA report. Gasoline inventories increased 4.4 MMBbl, while distillate inventories increased 1.5 MMBbl. With all these increases, total petroleum inventories posted a large build of 10.4 MMBbl. US crude oil production increased 100 MBbl/d, while crude […]
The Week Ahead For Crude Oil, Gas and NGLs Markets – August 5, 2019
[contextly_auto_sidebar] CRUDE OIL US crude oil inventories posted a decrease of 8.5 MMBbl last week, according to the weekly EIA report. Gasoline inventories decreased 1.8 MMBbl, while distillate inventories decreased 0.9 MMBbl/d. With the draw in crude inventories, total petroleum inventories posted a significant decrease of 10.1 MMBbl. US crude oil production increased 900 MBbl/d […]
Tug Hill Unlocks the Deep Utica in West Virginia
E&P business in full development, midstream system connects with multiple markets. The management team behind Tug Hill, which helped pioneer the Marcellus shale more than a decade ago, now says it has cracked the code to economic development of the dry gas Utica in West Virginia. The Fort Worth company’s upstream business, THQ Appalachia I LLC, has […]
COLOMBIA’S SEA OF OPPORTUNITY
Colombia’s underexplored offshore is getting a much-needed jolt of investor confidence. Speaking on the sidelines of the Offshore Technology Conference in Houston in early May, Colombia’s Luis Miguel Morelli, who heads the Agencia de Hidrocarburos (ANH), told a Drillinginfo analyst that two exploration ventures are being planned for the 2020 wildcatting season. “Next year is […]
WEST TEXAS LIGHT – ANALYZING THE GROWTH OF THE PERMIAN’S LATEST CRUDE GRADE
A few months ago I ran through a bunch of online news resources that you can hang on to keep track of what’s going on right now in the oil and gas industry. Mostly I focused on the large Mainstream Media sources (WSJ, Forbes, Bloomberg, NYTimes, The Economist), a number of industry specific portals (Oilpro, […]
Gulf of Mexico Lease Sale 251 Attracts More Than $178 Million in High Bids
On 15 August 2018, the BOEM’s Lease Sale 251 garnered 171 bids for 144 tracts in both shallow and deepwater from a total of 29 companies. According to officials, a total of US$ 178,069,406 was received in high bids. That was an improvement over March 2018’s Lease Sale 250 when a total of US$ 124.7 […]