inventory – Oil & Gas 360

PDC Energy announces approval of Broe Oil and Gas Development Plan Permit adding to existing multi-year inventory of Colorado development drilling locations

June 30, 2022

Oil and Gas 360 DENVER, June 29, 2022 (GLOBE NEWSWIRE) — PDC Energy, Inc. (“PDC” or the “Company”) (Nasdaq: PDCE) announced today that the Colorado Oil and Gas Conservation Commission (“COGCC”) approved the Company’s Broe Oil & Gas Development Plan (“OGDP”) permit, which encompasses 30 wells in rural Weld County, Colorado. The Broe OGDP was initiated by Great Western Petroleum, LLC (“Great Western”), which was acquired by PDC in May

Oil Dives Nearly 5% to Seven-Month Low on Surprise U.S. Stock Build, Trade War

August 7, 2019

From Reuters Oil prices tumbled more than 4.5% on Wednesday to a seven-month low, extending recent heavy losses following a surprise build in U.S. crude stockpiles and fears that demand will shrink due to Washington’s escalating trade war with Beijing. Brent crude futures LCOc1 settled down $2.71, or 4.6%, at $56.23 a barrel, the lowest close since early January. Prices

Oil Jumps Up Near $60 on Biggest U.S. Stockpile Drop Since 2016

June 26, 2019

From Bloomgerg Inventories declined 12.8 million barrels last week, EIA says Oil rose near $60 a barrel for the first time this month as a huge drop in U.S. crude inventories bolstered the outlook for demand. Futures in New York climbed as much as 3.6%, after the U.S. Energy Information Administration said domestic stockpiles fell by 12.8 million barrels last week. The biggest

World’s Crude Stockpiles Will Increase in 2018: Morningstar

December 28, 2017

U.S., Libya and Nigeria will drive up global supply From Morningstar Crude fundamentals look healthier than they’ve been for years, largely due to voluntary curtailments from OPEC and its partners. By giving up 1.8 million barrels per day (mmb/d), combined, this group has engineered a temporary supply shortage in an effort to realign global inventories with the long-term average before

Fed's Bullard Says Rate Cut May Be Needed ‘Soon’ - Oil & Gas 360

Surprise Crude Build Pressures Oil Prices

December 21, 2016

Oil prices dropped more than a dollar as soon as the DOE announced a surprise inventory build today. That was the first weekly build in crude stockpiles in five weeks. Analysts were expecting U.S. crude inventories to fall by 2.5 million barrels, according to a Reuters poll.

Analysts have been publicly claiming that a drop in the value of the U.S. dollar is coming. Of course, this has implications for oil - Oil & Gas 360

Oil Price Falls Hard on Inventory Report

July 7, 2016

Oil started the day on a slight upswing, but following today’s Petroleum Weekly Status Report issued by the EIA, the price began to plummet, ending the day down 4.76%. Initial reports coming last night from the American Petroleum institute (API) showed a draw on inventories of 6.7 million barrels. However, the API was just setting up the EIA for disappointing

Oil Continues Rally

May 17, 2016

WTI oil price continued its hot streak today finishing the day up 1.82% at $48.59 per barrel. Uncontrolled forest fires in Canada have suppressed the supply of oil coming from that market, more than one million barrels have yet to return to market. The fires in Canada is the latest in a string of supply disruptions curtailing oil coming to

IEA Sees Oil Demand Growth Falling to Lowest Level in Years as Global Economy Stalls Oil & Gas 360

Crude Oil Inventory

April 20, 2016

April 20, 2016 CRUDE OIL INVENTORY ‘000 bbls (Week Ended 4/15/16) Current: 538,611 Actual Build/(Withdrawal): 2,080 Economist Average Estimate: 2,295 Previous: 536,531 Analyst Commentary on Today’s Build Crude Inventory WoW Build Below Expectations on Lower Imports and Higher Refinery Util Rate – UBS Investment Research Crude stocks rose 2.1 MMBbls WoW to 538.6 MMBbls (near consensus of a 2.4

Oil Prices Down on Saudi Production Record, Huge Inventory Build

April 8, 2015

OPEC’s largest producer hit a 12-year production record last month Saudi Arabia increased oil production to 10.3 MMBOPD in March, setting a 12-year high for production in the country. Saudi Oil Minister Ali al-Naimi said the Kingdom will continue producing around 10 MMBOPD at a conference in Riyadh, reports Bloomberg. The March output is the highest since at least 2002,

Natural Gas Roundup for the Week Ended December 26, 2014

December 31, 2014

NATURAL GAS INVENTORY (Week Ended 12/26/14) Current: 3,220 Bcf Actual Injection/(Withdrawal): (26) Bcf Economist Average Estimate: (35) Bcf Previous: 3,246 Bcf Click here for the chart with five year averages. Click here for an archive of EnerCom’s Inventory Reports. ANALYST COMMENTARY UBS Investment Research (12.31.14) Storage withdrawal below expectations Storage fell 26 Bcf, below consensus expectations of 32 Bcf and the UBSe range

Natural Gas Roundup for the Week Ended December 12, 2014

December 18, 2014

NATURAL GAS INVENTORY (Week Ended 12/05/14) Current: 3,295 Bcf Actual Injection/(Withdrawal): (64) Bcf Economist Average Estimate: (61) Bcf Previous: 3,359 Bcf Click here for the chart with five year averages. Click here for an archive of EnerCom’s Inventory Reports ANALYST COMMENTARY **All notes from 12/18/14** KLR Group Storage overview The EIA reported a 64 Bcf storage draw, 2 Bcf above our 62 Bcf

Natural Gas Price Forecast: Is the Crude Oil Swoon a Sign of Things to Come?

October 23, 2014

The drop in crude oil prices is well documented, but will natural gas follow suit with winter approaching? The West Texas Intermediate spot prices closed at a two year low of $80.52 yesterday, down a total of $19.90 in the last three months (22.9% overall). Price cuts from Saudi Arabia have prompted the market to focus solely on supply news

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