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LNG Awakens Gas Market
There are many reasons why domestic natural gas prices have been sluggish. However, primary among them is the Marcellus shale which lies beneath Pennsylvania, Ohio, West Virginia and New York. Huge reserves, flexible production rates, and proximity to major markets have all helped the play to act as a damper on gas prices. Even seasonal… Read More
Pipelines Save Permian
The Permian Basin of West Texas and Southeastern New Mexico has seen its share of ups and downs over its long history dating back to the 1920’s. “Rigzone” reports that production from the area the size of the state of South Dakota peaked in 1973 at 2 million barrels of oil per day (bopd), dropped… Read More
Goodrich Sells Interest
“Rigzone” reports that Goodrich Petroleum Corp. is selling assets in LaSalle and Frio counties, Texas, for $118 million. These Eagle Ford shale properties include production averaging 2,850 barrels of oil equivalent per day (75% oil) as well as an undeveloped block. Analysts at Raymond James contend that the value of the reserves was such that… Read More
Morgan Stanley Now More Bearish
For some time now Morgan Stanley has not had any illusions about oil prices for the rest of 2015. However, they had faith that there would be a recovery thereafter. Now “World Oil” reports that the investment firm has downgraded their projections for the future. Previous forecasts were based on four factors: demand would rise… Read More
False Hope
“World Oil” reports that as of last Friday, the number of rigs looking for oil increased by 21 to 650 according to the Baker-Hughes count. This was the largest increase in oil rigs in 15 months. Recently, the count has been on the rise in three of the last four weeks, but is still well… Read More
