Our Blog
Pickens Buys In
Legendary oil investor, T. Boone Pickens, is apparently betting on an oil recovery. Last February he made headlines saying he had liquidated his energy holdings, saying “The low is in. Just don’t get in a rush here. You’re going to have plenty of opportunity. The market is going to be volatile. It’s not going to… Read More
Innovation and Resilience
Domestic shale producers continue to demonstrate an impressive degree of resilience and creativity in finding ways to cut costs and enhance oil and gas production. As oil has dropped back down to near $40 per barrel, this will help them maintain economic viability. “Rigzone” reports that Noble Energy, Devon Energy, Occidental Petroleum and Pioneer Natural… Read More
Midland Basin Acquisition
“Rigzone” reports that SM Energy will buy Rock Oil Holdings LLC from Riverstone Holdings for $980 million. The transaction will almost double the purchaser’s Permian Basin footprint to about 46,750 net acres with 4,900 barrels of oil equivalent per day (boepd) net production and 6 million barrels of proved developed producing reserves. The acreage is… Read More
Shale Revolutionizes LNG
“Rigzone” reports that the shale revolution flooded the domestic market with so much natural gas that prices fell to a 17 year low. Now shale is revolutionizing the global liquefied natural gas (LNG) market. With all the surplus shale gas in the U. S., operators had to find additional markets. Pipeline exports to Canada and… Read More
Downstream Downturn
“Rigzone” reports that the major integrated oil companies such as Exxon, Total and BP have always had the advantage of using profits from their downstream operations (refining, distribution and marketing) to offset reversals in upstream (exploration and production) when oil and gas prices fall. That is the plan, and for a while it was working… Read More
