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GOM Partially Offsets Onshore Decline
“World Oil” reports that when oil prices started falling in late 2014, so did the onshore oil rig count in the Lower 48. From October 2014, to April of this year, the number of rigs looking for oil dropped from 1,876 to 412, a 78% decrease. Predictably, oil production is dropping as well. In 2015… Read More
Bearish Forces
We fondly remember when oil was trading above $100 a barrel, and would like to forget its plunge to a 12 year low of less than $30, due to a global oil glut. As production dropped and it looked like inventories would start shrinking, prices rallied by 30%. Now, “World Oil” reports that the recent… Read More
LNG Price War in Europe
Apparently Russia and Norway have taken a page out of Saudi Arabia’s playbook. “World Oil” reports that these two nations are increasing production and driving down natural gas prices in order to preserve market share. This strategy is aimed at containing the growth of Qatari Liquefied Natural Gas (LNG) imports into Europe and preventing U.… Read More
IPAA Update
Mark K. Miller, Chairman of the Independent Petroleum Association of America (IPAA), was the guest speaker at the April meeting of the Houston Association of Professional Landmen. Founded in 1929, the IPAA has been the leading advocate for independent oil and gas producers in the U. S. The organization is basically a lobbying group and… Read More
$120 by 2018?
In a recent article posted on “Real Money”, Daniel Dicker makes the case for $120 oil by 2018, and double digits by the end of next year. While this is by no means a consensus view, the author makes an interesting case based on generally accepted supply and demand forecasts, and enhances this with his… Read More
