Analysis
![Analysis](/cache/2016/07/Schlumberger-14.7ff3e6c6.jpg)
2016, July, 26, 18:45:00
SCHLUMBERGER NET LOSS $2.16 BLN
Schlumberger Chairman and CEO Paal Kibsgaard commented, “In the second quarter market conditions worsened further in most parts of our global operations, but in spite of the continuing headwinds we now appear to have reached the bottom of the cycle. As we continued to navigate this challenging environment, we again delivered robust pretax operating income, operating margin, and free cash flow. This performance came as a result of our strong execution and, in some cases, at the expense of revenue as we began shifting focus onto recovering our pricing concessions and high-grading our contract portfolio".
![Analysis](/cache/2016/07/BP-35.e9067f84.jpg)
2016, July, 26, 18:40:00
BP PROFIT $720 MLN
Bob Dudley, BP group chief executive said: " BP today is a stronger, more focused and more disciplined company. We continue to actively develop a strong, balanced portfolio and we are managing the business for value over volume. Our relentless group-wide focus on capital and cost discipline is helping BP to become much more efficient while maintaining the investment needed for future growth".
![Analysis](/cache/2016/07/KASHAGAN-7.465551c6.jpg)
2016, July, 26, 18:35:00
OIL COULD BE UNECONOMIC
“The industry has got a real problem,” says Chris Pateman-Jones of Ernst & Young. “Projects are becoming larger and more complex and more challenging … Even if they were to hit their targets, they could still be uneconomic.”
![Analysis](/cache/2016/07/OIL-420.d598c8a5.jpg)
2016, July, 26, 18:30:00
OIL PRICES UP TO $44.93
International Brent crude oil futures LCOc1 were trading at $44.93 per barrel at 0501 GMT, up 21 cents from their last close. U.S. West Texas Intermediate (WTI) crude CLc1 was at $43.23, up 10 cents per barrel.
![Analysis](/cache/2016/07/OIL-417.ed40dd3e.jpg)
2016, July, 23, 15:41:00
OIL PRICES DOWN TO $44.75
The NYMEX crude oil contract for September declined $1/bbl to settle at $44.75/bbl on July 21. The October contract dropped $1/bbl to close at $45.45/bbl.
The natural gas contract for August gained 3¢ to $2.69/MMbtu. The Henry Hub gas price declined 2¢ to $2.70/MMbtu on July 21.
![Analysis](/cache/2016/07/canada-38.aad48c70.jpg)
2016, July, 23, 13:59:00
U.S. RIGS UP 15
U.S. Rig Count is up 15 rigs from last week to 462, with oil rigs up 14 to 371, gas rigs down 1 to 88, and miscellaneous rigs up 2 to 3.
Canadian Rig Count is up 7 rigs from last week to 102, with oil rigs up 4 to 48, gas rigs up 3 to 53, and miscellaneous rigs unchanged at 1.
![Analysis](/cache/2016/07/OIL-416.bacd7ec6.jpg)
2016, July, 22, 15:27:00
OIL PRICES UP TO $44.94
The NYMEX crude oil contract for August gained 29¢ to settle at $44.94/bbl on July 20. The September contract gained 30¢ to close at $45.75/bbl.
The natural gas contract for August dropped 7¢ to $2.66/MMbtu. The Henry Hub gas price declined 9¢ to $2.72/MMbtu on July 20
![Analysis](/cache/2016/07/OIL-415.e9011fa5.jpg)
2016, July, 21, 15:10:00
OIL PRICES DOWN TO $44.65
The NYMEX crude oil contract for August fell 59¢ to settle at $44.65/bbl on July 19. The September contract dropped 49¢ to close at $44.45/bbl.
The gas futures contract for August edged up less than a penny to remain at $2.72/MMbtu. The Henry Hub gas price held steady at $2.81/MMbtu on July 19, unchanged from the previous day.
![Analysis](/cache/2016/07/USA-313.fe599715.jpg)
2016, July, 21, 15:07:00
U.S. DRILLING UP
Higher and more stable crude oil prices are contributing to increased drilling in the United States, which may slow the pace of production declines. Benchmark West Texas Intermediate (WTI) crude oil prices averaged $46.59 per barrel (b) over the last three weeks, a 40% increase over the average price in the first quarter.
![Analysis](/cache/2016/07/OIL-414.b78f694e.jpg)
2016, July, 20, 14:43:00
OIL PRICES DOWN TO $45.24
The NYMEX crude oil contract for August fell 71¢ to settle at $45.24/bbl on July 18. The September contract also dropped 71¢ to close at $45.94/bbl.
The gas futures contract for August fell a rounded 3¢ to $2.72/MMbtu. Cash gas prices went the other direction. The Henry Hub gas price was $2.81/MMbtu, up 14¢ on July 18.
![Analysis](/cache/2016/07/USA-306.9b590432.jpg)
2016, July, 19, 14:24:00
OIL PRICES UP TO $45.95
The crude oil contract for August gained 27¢ to settle at $45.95/bbl on the New York Mercantile Exchange on July 15. The September contract gained 23¢ to close at $46.65/bbl.
The natural gas contract for August was up a rounded 3¢ to a rounded $2.76/MMbtu. The Henry Hub gas price was $2.67/MMbtu, down 10¢ on July 15.
![Analysis](/cache/2016/07/USA-307.9b590432.jpg)
2016, July, 19, 14:12:00
U.S. OIL COMPANIES UPDOWN
First-quarter 2016 financial results from U.S. onshore producers reveal an improving balance between capital expenditure and operating cash flow. Although operating cash flow was the lowest in any quarter in the past five years, larger reductions to capital expenditure brought these companies closest to self-finance (when capital investment can be paid for entirely from operating cash flow). With crude oil prices such as the global benchmark Brent price averaging over $45 per barrel in the second quarter—a 34% increase from first-quarter 2016—cash flow may improve and help offset declining revenue from lower production.
![Analysis](/cache/2016/07/USA-303.f61c9481.jpg)
2016, July, 19, 12:26:00
U.S. OIL PRODUCTION DOWN
U.S. oil production down 99 tbd, gas production down 417 mcfd.
![Analysis](/cache/2016/07/OIL-413.bc1224d1.jpg)
2016, July, 16, 13:54:00
OIL PRICES UP TO $45.68
The crude oil contract for August on the New York Mercantile Exchange gained 93¢ on July 14 to settle at $45.68/bbl. The September contract climbed 98¢ to $46.42/bbl.
The natural gas contract for August was down 1¢ to a rounded $2.73/MMbtu. The Henry Hub gas price was $2.77/MMbtu, down 4¢ on July 14.
![Analysis](/cache/2016/07/OIL-412.68c0b0c8.jpg)
2016, July, 15, 13:38:00
OIL PRICES DOWN TO $44.75
The crude oil contract for August on the New York Mercantile Exchange plunged $2.05 on July 13 to settle at $44.75/bbl. The September contract dipped $2.13 to $45.44/bbl.
The natural gas contract for August was up a fraction of a cent to $2.74/MMbtu. The Henry Hub gas price was $2.81/MMbtu, up 6¢ on July 13.