October 22, 2021 – Oil & Gas 360

EnerCom’s Pre-Earnings Thoughts on E&Ps: 2022 cost inflation transitioning from an “if” to a “how much” topic

October 22, 2021

Oil & Gas 360 By Tim Rezvan-EnerCom, Inc. 3Q earnings season is about to begin for the E&Ps, with large cap diversified operator Hess (NYSE: HES) and mid cap Permian pure play Matador (NYSE: MTDR) both on the docket for next week with calls on Wed 10/27. Heading into earnings, commodity prices remain a much-appreciated tailwind to fund balance sheet

Falling crude inventories pin WTI oil price near $83

October 22, 2021

World Oil (Bloomberg) –Oil swung between gains and losses as traders weigh the ongoing impact of a global energy crunch and dwindling inventories at a key U.S. storage hub. Front-month futures in New York traded below $83, paring an earlier drop as the dollar cooled. While headline prices have been volatile over the last two sessions, the market’s structure has

Shell may restart hurricane-hit Gulf platforms ahead of schedule

October 22, 2021

World Oil (Bloomberg) –Royal Dutch Shell is hoping to restart its Ursa oil and gas platform in the U.S. Gulf of Mexico as early as the first half of November, according to a person familiar with the matter who asked not to be identified because the information isn’t public. The 100,000-barrel-a-day Ursa and the Shell’s other 60,000-barrel a day Mars

EnerCom’s Pre-Earnings Thoughts on E&Ps: 2022 cost inflation transitioning from an “if” to a “how much” topic

October 22, 2021

By Tim Rezvan, CFA 3Q earnings season is about to begin for the E&Ps, with large cap diversified operator Hess (NYSE: HES) and mid cap Permian pure play Matador (NYSE: MTDR) both on the docket for next week with calls on Wed 10/27. Heading into earnings, commodity prices remain a much-appreciated tailwind to fund balance sheet healing and capital return

Canada oil producers grapple with Trudeau’s demand for faster emissions cuts

October 22, 2021

Reuters WINNIPEG, Manitoba (Reuters) – Canada’s oil producers face new pressure from Prime Minister Justin Trudeau to reduce emissions in just three years, a sudden acceleration of their plans that at least one major company said looks unrealistic. Suncor Energy, the second-largest Canadian crude producer, says it remains focused on cutting emissions by 2030, not 2025 as the Canadian government

Colombian Mining Association Establishes a Sustainable Mining Standard in the Country

October 22, 2021

Colombian Mining Association Establishes a Sustainable Mining Standard in the Country …

Oilfield data startup Zeno plans to streamline fossil fuel asset valuation

October 22, 2021

World Oil HOUSTON (Bloomberg) –An oil-data startup backed by Palantir Technologies Inc. co-founder Joe Lonsdale plans to help energy explorers, bankers and investors figure out how much crude and natural gas reserves trapped underground are really worth. Zeno Technologies wants to replace the “patchwork of tools” oil executives and erstwhile investors currently rely on to do everything from assessing new

Big Oil to attend U.S. House climate disinformation hearing

October 22, 2021

Reuters WASHINGTON – Top executives from Exxon Mobil Corp, BP America, Chevron Corp and Shell Oil will testify on Oct. 28 at a congressional hearing examining whether the fossil fuel industry led an effort to mislead the public and prevent action to curb climate change warming, a House panel said on Friday. Democratic lawmakers who called for the hearing, which

U.S. rig count had an increase of 1 this week, at 585- oil and gas 360

U.S. rig count decreased by 1 this week, at 542

October 22, 2021

Oil and Gas 360 This week’s Baker Hughes rig count shows that U.S. had a decrease of 1 over last week, resulting in a total count of 542 rigs. Canada had a decrease of 4 over last week, resulting in a total Canadian count of 164 rigs. Breakdown by region Of the regions tracked by Baker Hughes, only the Permian

Oil inventory at Cushing crude hub nears critically low levels

October 22, 2021

World Oil (Bloomberg) –Stockpiles at the biggest U.S. crude depot are quickly approaching critically low levels. The last time that happened, crude cost more than $100 a barrel. The storage tanks in Cushing, Oklahoma, require a minimum level of oil to maintain normal operations, which traders generally believe is around 20 million barrels. Unusually for this time of year, stockpiles

2 Incredibly Cheap TSX Stocks to Buy Right Now

October 22, 2021

The markets may have bounced back from its mild 5% pullback, but that doesn’t mean t…

Schlumberger beats Q3 profit estimates as oilfield activity recovers

October 22, 2021

Reuters Oilfield services giant Schlumberger NV issued a bullish forecast for 2021 on Friday as second-quarter profit topped estimates due to surging margins, with a rebound in oil prices boosting demand for its software and equipment. Energy services firms are benefiting from a resumption of drilling driven by rising crude prices, which are up 18% in the latest quarter and

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