Short Term Oversupply, Permian in the Pole Position Oil & Gas 360® interviewed Stephens Inc. Senior Vice President E&P Research, Will Green, and Vice President E&P Research, Ben Wyatt, this week, in pursuit of their view of the current commodities cycle and related effect on the E&P space, looking at 2015 and beyond. Green joined Stephens in 2007 as
Low prices will hurt the Russian economy, but they are far from being Russia’s only problem The World Bank last month released its growth projections for Russia in 2015 and 2016, offering a glimpse into a potentially bleak future for the country. The report included three separate projections for the Russian economy for the next two years based off the
United States refineries are running at utilization rates well above 90%, but don’t count them as part of the oil and gas industry being squeezed in the current commodity market. The Energy Information Administration (EIA) still expects domestic production to increase in 2015 (albeit, at slightly lower numbers than before), and refiners are prepared to take advantage of margins that
Story by the Associated Press Alberta’s oil-heavy economy will likely dip into recession as oil prices plunge, according to a report by a Canadian economic think-tank. The Conference Board of Canada said the western Canadian province’s latest employment and new housing start numbers are holding steady, but that Alberta will slip into recession if oil prices stay low. “It’s going
Newfield Exploration Company(NFX) today disclosed that the Company has concluded its marketing process for its China business and now plans to retain the assets. For financial purposes, the China business will be reclassified as “continuing operations” in the fourth quarter of 2014. “The recent and significant pull back in global oil prices created headwinds for our China sales process,” said
Diamondback Energy, Inc. (FANG) (“Diamondback” or the “Company”) and Viper Energy Partners LP (VNOM) (“Viper”), a subsidiary of Diamondback, today provided an operational update for the quarter ended December 31, 2014, and announced preliminary financial and operating guidance for the full year of 2015. PRODUCTION Diamondback’s Q4 2014 production increased 25% to 25.7 Mboe/d, from 20.6 Mboe/d in Q3 2014.
Samson Oil & Gas Limited (ASX: SSN; NYSE MKT: SSN): TOTAL COMPANY PRODUCTION Samson’s net monthly production for the December 2014 quarter is as follows: October November December OIL, BO 6,591 17,619 18,906 GAS, MCF 11,861 9,363 12,102 BOE 8,567 19,180 20,923 BOEPD 285 618 675 Samson’s net production by quarter for the calendar year ended December 31, 2014 is
Rio de Janeiro, January 12, 2015 – Petróleo Brasileiro S.A. – Petrobras´ total oil and natural gas production in December, in Brazil and abroad, has reached an average of 2 million 863 thousand barrels of oil equivalent per day, representing the best result ever achieved in the history of the Company. This volume has an increase of 4.4% from 2
Swift Energy Company (SFY) today announced a revised 2015 capital budget range of $100 – $125 million in response to recent hydrocarbon price declines. This revised level of activity is projected to yield between 11.2 and 11.4 million barrels of oil equivalent (“MMBoe”) of production. Terry Swift, CEO of Swift Energy, commented, “Our revised budget, representing a 70-75% decrease in
U.S. Growth Will Lead the Global Economy Export Development Canada’s (EDC) Assistant Chief Economist and Director of Economic and Political Intelligence Centre, Stuart Bergman, gave a presentation in Denver this morning on the state of the global economy. The bottom line: the recovery is real and it is taking place now. Undaunted by the recent beat-down in his country’s oil
Despite the tumbling price of oil, Valero looks to sustain expenditures and continue to grow dividends Valero (ticker: VLO), the world’s largest independent refiner, released a presentation last week setting the company’s many objectives for 2015. In the face of the challenging market, Valero has implemented goals to maintain capital expenditures and grow dividends next year. In the company’s presentation,
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