General Business

What Happened To The IPO Market For Oil And Gas Independents?

The IPO market for oil and gas independents has evaporated, as the cost of replacing assets – including leaseholds, reserves and drilling inventory – exceeds the market value of publicly traded shale companies. Understanding when that might change requires an understanding of market fundamentals. Read Full Article Here: https://www.forbes.com/sites/uhenergy/2018/06/12/what-happened-to-the-ipo-market-for-oil-and-gas-independents/#5496b9da4d1c

The party may end soon: Economists predict a recession by 2020

The skies of the U.S. economy are clear and sunny, but many analysts see storm clouds on the horizon. By many measures, the economy is in its best shape since the Great Recession of 2007 to 2009. Employment hit an 18-year low of 3.8% in May. Average wage growth is widely expected to reach 3% by the end of the year. And the economy is projected to grow nearly 3% in 2018 for just the second time since the downturn. Yet the economic expansion is the second-longest in U.S. history, leading many economists to forecast a recession as early as next year. Half the economists surveyed last month by the National Association of Business Economics foresee a recession starting in late 2019 or in early 2020, and two-thirds are predicting a slump by the end of 2020. […] Read Full Article Here: http...

Conoco Seizes Venezuela PDVSA Products From Isla Refinery

U.S. oil major ConocoPhillips (NYSE: COP) has seized products belonging to Venezuelan state oil company PDVSA from the Isla refinery it runs on Curacao, an island official told Reuters on May 13. Conoco has won court orders allowing it to seize PDVSA assets on Caribbean islands, including Curacao, in efforts to collect on a $2 billion arbitral award linked to the 2007 nationalization of Conoco assets under late leader Hugo Chavez. “PDVSA products from the installations of the Isla refinery have been confiscated. We don’t have any way to get them,” Steven Martina, Curacao’s minister for economic development said, who did not provide the amount or value of the seized products. Conoco and PDVSA did not immediately respond to requests for comment. […] Read Full Article Here: https://www.o...

Four ways technology is making the oil and gas industry greener

The oil and gas sector has long suffered a negative reputation — traditional extraction and production methods have contributed heavily to Canada’s carbon footprint through the emission of methane gas and other air pollutants — but exploration and production (E&P) companies and cleantech startups are working to fix this. E&P companies have been actively reducing their methane emissions with clean technology solutions. Canada’s cleantech industry now ranks fourth-highest globally and first in the G20. In January, […] Read Full Article Here: http://business.financialpost.com/entrepreneur/four-ways-technology-is-making-the-oil-and-gas-industry-greener

Russian oil output hits 11-month high in March

Russian oil output rose slightly in March to an 11-month high of 10.97 million barrels per day (bpd), above a quota agreed under a global pact to curb production, energy ministry data showed on Monday. Read Full Article Here: https://www.reuters.com/article/us-russia-energy-production/russian-oil-output-hits-11-month-high-in-march-idUSKCN1H90K2

As shale wells grow longer, buyouts attract hemmed in oil producers

A recent drought in oil company mergers and acquisitions could be coming to an end over a new Texas range war: U.S. shale producers are building miles-long horizontal wells that are running into their rivals’ land holdings. Read Full Article Here: https://www.reuters.com/article/us-usa-oil-permian/as-shale-wells-grow-longer-buyouts-attract-hemmed-in-oil-producers-idUSKBN1H61FW

U.S. oil drillers cut rigs for first week in three -Baker Hughes

As reported by Reuters, U.S. energy companies this week cut oil rigs for the first time in three weeks even as crude prices hover near three-year highs. Drillers cut seven oil rigs in the week to March 29, bringing the total count down to 797, General Electric Co’s Baker Hughes energy services firm said in its closely followed report on Thursday. While this is interesting news given the cut is at the same time as a rise in crude prices, one week does not make a trend. It’s important to keep in mind that rig counts will naturally change and it’s not uncommon for a random week to be just that, random as it pertains to the overall trend. Read Full Article Here: https://www.reuters.com/article/us-usa-rigs-baker-hughes/u-s-oil-drillers-cut-rigs-for-first-week-in-three-baker-hughes-i...

Shale Gas May Rescue Appalachian Economies If It Can Win Public Acceptance

A new study that the manufacturing sector could earn superior returns if it invested more in Utica and Marcellus Shale regions as opposed to the Gulf Coast, citing an abundance of shale gas that is closer to the consuming public. Is this the path to economic freedom or a well of future problems? Read Full Article Here: https://www.forbes.com/sites/kensilverstein/2018/03/23/shale-gas-may-rescue-appalachian-economies-if-it-can-win-public-acceptance/#2e0ed3c66eb7

US crude edges up 23 cents, settling at $61.19, as rising oil supply caps gains

Oil prices inched up on Thursday, supported by a pickup in equity markets, but limited by evidence that supply will overtake demand this year. Read Full Article Here: https://www.cnbc.com/2018/03/14/oil-markets-healthy-demand-but-oversupply-looms-later-in-2018.html

Buying or Selling? – Map could prevent earthquakes from Texas fracking

According to a recent study in the Leading Edge authored by the Stanford University, Department of Geophysics, a new map highlights areas of West Texas and southeastern New Mexico that could be at greater risk for future earthquakes resulting from oil and gas operations. Previous research has shown that wastewater injected as a step in hydraulic fracturing (fracking) underlies an increase in seismic activity in parts of the central and eastern US, particularly in Oklahoma, starting in 2005. While none of these small-to-moderate earthquakes has yet caused significant property damage or injury, they represent an increased probability of larger earthquakes. Now, Texas is poised to take center stage as the Permian Basin is becoming the country’s most important oil- and gas-producing regio...

Oil, gas operations disrupted after powerful quake hits central Papua New Guinea

A powerful 7.5-magnitude earthquake struck Papua New Guinea’s Southern Highlands province early on Monday, the U.S. Geological Survey (USGS) said, prompting oil and gas companies to immediately suspend operations in the energy-rich interior. There have been at least 13 aftershocks with a magnitude of 5.0 or more that continue to rattle the area. There are no confirmed casualties at this time. Several oil and gas companies including ExxonMobil have shut down operations affected by the earthquake. Read Full Article Here: https://www.theglobeandmail.com/news/world/oil-gas-operations-disrupted-after-powerful-quake-hits-central-papua-new-guinea/article38108236

U.S. To Become Net Oil And Gas Exporter In 5 Years | OilPrice.com

The United States will become a net oil and gas exporter by 2022, the Energy Information Administration (EIA) said in this year’s edition of its Annual Energy Outlook. Slower domestic demand, along with growth in natural gas, oil, and oil product production will drive the transformation, the EIA said. That sounds like President Trump’s dream of energy dominance come true, but of course, this would only happen under certain circumstances, as the EIA notes in the beginning of the report. For starters, the forecasting model the authority uses stipulates annual economic growth of between 1.5 percent and 2.6 percent between 2017 and 2050, with energy demand varying between flat and growing by 0.7 percent. Another important stipulation in the model is the growing adoption of renewable ...

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