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Natural Gas Outlook
For a while it looked as though natural gas prices were immune to the precipitous price declines that have been ravaging oil. The good news is that domestic natural gas markets are less influenced by international geopolitical forces than oil. In fact, LNG imports are down, as are gas imports from Canada. Net gas exports… Read More
Oil Price Outlook
Oil prices are changing (unfortunately dropping) so quickly it is difficult to follow specific prices, much less predict them. However, we are trying to follow the factors that we believe influence prices. Some forecasts are for continued deterioration of prices through midyear 2015. Recent developments lend credence to this prediction. Demand weakness, increasing inventories, new… Read More
Linn Reacts to Price Drop
“Rigzone” cites a Reuters report that Linn Energy LLC is following a trend among domestic operators and reducing its capital budget and dividend. The 2015 budget will be cut 53% down to $730 million and the dividend per share of its LinnCo unit decreased from $2.90 to $1.25 on an annual basis. The capital program… Read More
Exxon Sees Bright Future for Hydrocarbons
A recent “Rigzone” article summarized Exxon’s annual long-term energy forecast. The company predicts a positive outlook for hydrocarbons in general and for North America in particular. This is quite a reversal for a continent which once was a sponge that sucked up a large part of the world’s oil supply. Exxon predicts that by the… Read More
Texas Drilling Permits Fall in November
“Rigzone” reports that Texas, the leading oil producing state in the U. S., issued only about half as many drilling permits in November as in the previous month. While this decrease is widely attributed to the drop in oil prices, it still took several months to develop. Oil prices plunged in late June, but from… Read More
