The Weekly USA Oil & Gas Update: 5th January 2016
Add bookmark
The Oil & Gas Weekly is compiled by Todd Erickson. Todd is a veteran executive manager in the North American E&P market.
He has management experience in high-growth oil & gas service organizations performing a leadership role in operations, strategy, and corporate development with a track record of identifying opportunities and best-practices, creating execution plans, then developing effective teams and leaders to execute them.
Learn more about Todd here
Rig Counts - select states with key plays |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Oil & Gas Prices - Bloomberg/EIA |
||||||||||||||||||||||||
|
|
General News |
|
Oil traders say price not likely to recover much in 2016 A year ago, analysts were predicting price recoveries in 2015, while oil traders were shorting crude with expectations of further price erosion. The traders were right, and the price of crude oil kept dropping throughout 2015. Now, a similar disparity exists between analysts' and traders' expectations for 2016: the analysts expect a recovery, while traders expect prices to remain flat throughout the year, and maybe even longer. "The party (of past high oil prices) is over, at least for the next two to three years," said trader Oystein Berentsen. Crude oil supply appears to support the traders' argument for sustained lower prices. A significant global surplus in production still exists as OPEC keeps pumping, and shale producers have proven to be more resilient with their production than expected, as they adjust costs and returns downwards to accommodate lower prices. Article here |
Unconventional Oil & Gas News |
|
US LNG terminal gets ready to make first shipment in January Cheniere Energy's Sabine Pass terminal in Louisiana has begun liquefying natural gas and storing it into tanks, anticipating its first shipment to go to Europe this month. The plant expects to have six trains completed by 2018, enabling it to export up to 3.5 billion cubic feet per day when finished. Article here |
Environment and Safety News |
|
Environmental groups question Pennsylvania study of radioactive waste Pennsylvania's Department of Environmental Protection undertook the study after questions were raised about the risk from naturally occurring radioactive materials (NORM), a common by product of oil & gas exploration and production. The study found that NORM from Pennsylvania industry activities showed little potential for harmful radiation exposure. The Delaware Riverkeeper Network claims the study was flawed, using inaccurate radon measurements and sampling methods. The state has received the group's review, but has declined to comment. Article here |
Mergers and Acquisitions News |
|
Freeport-McMoRan looking to get out of the oil & gas business |
