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A Tale of Two Cities
“It was the best of times, it was the worst of times.” So begins the famous novel by Charles Dickens describing London and Paris respectively at the close of the 18’th century. According to a recent article in “World Oil”, the same could be said about Karnes City and Smiley, Texas. Both of these small… Read More
Service Sector Consolidation
Since crude prices collapsed last fall the energy industry has fallen on hard times, and no segment of the industry has been harder hit than the service companies. According to a recent article in “World Oil”, operators have cancelled over $100 billion in capital spending which has resulted in almost a 60% drop in active… Read More
Bill White’s View
Bill White, former Houston Mayor, Deputy Secretary of Energy, and Senior Advisor with investment banking firm Lazard, addressed a recent meeting of the Houston Chapter of the American Petroleum Institute. He commented on a range of topics and his remarks are summarized below. Volatility-The energy industry is intrinsically cyclical. The severity of downturns and the… Read More
Battle for Market Share
“World Oil” cites the April monthly report recently issued by the International Energy Agency (IEA) which contends that the battle over global market share, and its impact on oil prices, has just begun. The Paris based body which is the advisor to 29 industrialized nations predicts oversupply, and consequently, low prices in the coming months.… Read More
Shale Production Slides
According to a recent article in “World Oil”, shale oil production will drop over 54,000 barrels per day (bopd) in May, or about 1%. A further drop of approximately 86,000 bopd is anticipated in June, per a recent report by the Energy Information Administration. These production declines are primarily attributable to the Bakken shale in… Read More
