2015, March, 31, 21:10:00THE TARGET: $100/BBL TO 2018
The prospect of a return to $100-a-barrel crude is tempting some to bet against the bearish consensus in the oil market.
2015, March, 31, 21:05:00U.S. OIL & GAS M&A
Despite a 50 percent slide in crude prices since last summer, U.S. shale oil producers are enjoying remarkably easy access to capital markets and this will allow them to avoid getting squeezed when banks reset their loans in April.
2015, March, 31, 21:00:00WORST TO COME
In a keynote speech to attendees of the 2015 Coiled Tubing & Well Intervention Conference & Exhibition, Richard B. Spears, an oil field services market researcher, says the worst may be yet to come for that market, but a partial recovery also could come sooner than expected.
2015, March, 31, 20:55:00CANADA OIL&GAS M&A
ConocoPhillips is among energy companies considering asset sales amid depressed oil prices, as it markets gas-producing properties that account for about 20% of its production in Western Canada. Whiting Petroleum has hired a bank to explore a sale of the company, people familiar with the matter said last week. The company is selling oil and gas processing assets in North Dakota, Bloomberg News reported in February.
2015, March, 31, 20:50:00U.S. OIL GROWTH
U.S. crude oil production (including lease condensate) increased during 2014 by 1.2 million barrels per day (bbl/d) to 8.7 million bbl/d, the largest volume increase since recordkeeping began in 1900. On a percentage basis, output in 2014 increased by 16.2%, the highest growth rate since 1940. Most of the increase during 2014 came from tight oil plays in North Dakota, Texas, and New Mexico where hydraulic fracturing and horizontal drilling were used to produce oil from shale formations.
2015, March, 31, 20:45:00U.S. NEED ARCTIC
The U.S. should immediately begin a push to exploit its enormous trove of oil in the Arctic waters off of Alaska, or risk a renewed reliance on imported oil in the future, an Energy Department advisory council says in a study submitted Friday.
2015, March, 31, 20:40:00UPSTREAM INVESTMENTS: DOWN 12%
Based on financial statements from selected international oil and natural gas companies, spending on upstream investments was 12% lower in fourth-quarter 2014 compared to the same period in 2013. Upstream spending on exploration and development typically accounts for the bulk of these companies' investment expenditures.
2015, March, 31, 20:35:00OIL PRICES WILL RISE
Oil prices should stabilise in the second half of this year and rise in 2016 and 2017 as consumers respond to a period of much cheaper fuel, a Reuters poll of analysts showed on Monday.
2015, March, 31, 20:30:00EU GAS DEMAND FELL 11%
European gas demand fell 11.2% on the year in 2014 to 409 Bcm, or 4,418 TWh, because of "exceptionally warm" weather, industry association Eurogas said Wednesday.
2015, March, 31, 20:25:00OIL MARKETS: TRAITORS
Oil markets remained volatile Mar. 24 while analysts anticipated a weekly government inventory report showing another climb in US oil and product supplies. US light, sweet crude prices edged up on Mar. 24 to remain under $48/bbl while Brent prices fell modestly to settle at above $55/bbl.