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EIA Cuts Crude Forecast
“Rigzone” reports that the U. S. Energy Information Agency (EIA) now foresees falling crude prices as having a larger impact on domestic oil production than it had previously thought. The agency reduced its 2015 forecast by 1.5% to 9.22 million barrels per day (bpd). Administrator Adam Sieminski predicted that domestic crude production will continue to… Read More
Asset Sales
According to a recent article in “World Oil”, the prolonged and painful crash in the oil patch is incenting many shale operators to finally considered selling some of their prized properties. As the depth and duration of the oil price collapse becomes apparent, asset valuations are falling and the willingness of owners to part with… Read More
Citigroup Oil Forecast
Many oil and gas producers have been able to mitigate the impact of collapsing oil prices by selling stock or debt to investors, or borrowing in high yield credit markets. “World Oil” quotes Citibank analysts who think this is about to change, with shale operators being the most affected. During the week ended August 28,… Read More
New OK Gas Plant
“World Oil” reports that Asset Risk Management (ARM), in partnership with Highbridge Principal Strategies, will build gas gathering, gas processing and crude gathering facilities in the STACK area of Oklahoma. The Kingfisher Midstream project will provide infrastructure to area operators and support expanded production in Kingfisher, Blaine, Logan, Garfield and Canadian counties. Facilities are expected… Read More
EOG Resources Optimistic
“Rigzone” reports that in comments at Barclay’s Energy-Power Conference, EOG’s Chief Executive Officer, Bill Thomas, indicated that he is excited about the prospects for 2016. Yes, like the rest of the industry, EOG has experienced layoffs and budget cuts in response to the oil price collapse. In fact, EOG had to reduce the number of… Read More
