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Major Casualties
When oil prices collapsed last November, most industry observers predicted the demise of domestic shale operators. However, according to a recent article in “World Oil”, it is the international majors who are the unexpected casualties. In order to maintain their economic viability in the new low price environment, the smaller, nimbler, shale operators used loans,… Read More
Crude Stocks to Decline?
Stagnant demand, low prices and increasing domestic oil production have all led to record high crude stocks. According to a recent article in “World Oil”, inventories reached 471 million barrels (MMbbl) at the end of March. This led some industry observers to fear that the U. S. might be running out of crude oil storage… Read More
A Review of The Colder War
I recently read The Colder War: How the Global Energy Trade Slipped from America’s Grasp, by Marin Katusa. An old friend read and recommended the book and now I know why. The author, son of Croatian immigrants, was a math professor, and subsequently worked in the energy and mining industries before becoming a hedge fund… Read More
“World Oil” U. S. Forecast
John Higgins, the publisher of “World Oil” magazine, was the speaker at the February meeting of the Houston Chapter of the American Petroleum Institute (API). Predictably, his comments were quite interesting and provocative. While they are not at great variance with what many other analysts have forecast, his are backed up by a wealth of… Read More
What to Expect in 2015
According to a recent article in “Rigzone”, there is some good news on the horizon. Energy consulting firm Wood Mackenzie expects partial relief for oil and gas operators via reduced rates from service companies, asset high-grading, and efficiency gains. The article cites 15 trends we can expect to see in the coming year. I have… Read More
