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 […]
U.S./World=6
The oil and gas industry is currently grappling with fears of both oversupply and weakened demand. Demand side weakness is tied to tariffs, strength of the dollar, and a slow but apparently inexorable increase of market share for renewables and green alternatives to the traditional hydrocarbon supply of needed global BTUs. Increasing supplies of power […]
Small Change in OCC – Big Impact on Aggressive Smaller Companies’ MO
Oklahoma SCOOP is one of the hottest drilling fairways in the U.S. On Aug. 1, an Oklahoma Corporation Commission (OCC) regulation that will change the way aggressive—usually smaller—companies often leverage their way into larger companies’ drilling units went into effect. This new change is found in Title 165 (Oklahoma Statutes), Chapter 5-13-3 (d) and provides […]
Prices Fell Sharply Due to Bearish Inventory Report and Concerns on Global Economic Growth
[contextly_auto_sidebar] US crude oil stocks posted a increase of 2.4 MMBbl from last week. Gasoline and distillate inventories increased by 4.4 MMBbl and 1.5 MMBbl, respectively. Yesterday afternoon, API reported a crude oil draw of 3.4 MMBbl, while reporting a gasoline draw of 1.1 MMBbl and a distillate build of 1.2 MMBbl. Analysts were expecting […]
THE NEXT EVOLUTIONARY STEP IN PAD DRILLING
It is time for Pad Drilling 2.0, the next iteration in a developmental drilling practice that has transformed how the oil and gas industry accesses tight formation hydrocarbons. Pad drilling version 1.0, or the drilling of multiple wells from a single surface site, played a linch-pin role in opening up capital-intensive tight formation oil plays […]