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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
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
Oil Price Optimist
“World Oil” reports that Andy Hall, a well-known hedge fund manager with Astenbeck Capital Management, defies the prevalent oil market mood of gloom and doom. While he admits that times are tough, he does not see that current situation as a replay of the busts of 1998 and 2008. Yes, prices have dropped by more… Read More
Shale Operators New Swing Producers
For some time now many industry observers have speculated that U. S. shale operators are becoming the new “swing producers” in the world oil market. “World Oil” recently cited remarks by Olivier Appert of the French Committee of the World Energy Council, who has added his voice to the chorus. Until the 1970’s the global… Read More
