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May 2016

May 2016
2016, May, 22, 15:00:00
U.S. RIGS DOWN 2
U.S. Rig Count is down 2 rigs from last week to 404, with oil rigs unchanged at 318, gas rigs down 2 to 85, and miscellaneous rigs unchanged at 1. Canadian Rig Count is up 1 rig from last week to 44, with oil rigs unchanged at 16, gas rigs up 1 to 27, and miscellaneous rigs unchanged at 1.
May 2016
2016, May, 19, 20:55:00
OIL PRICES UP TO $48
The Brent crude contract for July on London's ICE was up $1.14 to $48.97/bbl. The August contract gained $1.29 to $49.43/bbl. The June gas oil contract gained $11.50 to $430.25/tonne.
May 2016
2016, May, 19, 20:50:00
U.S. ENERGY DEBT: $370 BLN
"[Oil’s recent rise] is not enough," said Dicker. "You can’t find the financing to keep the lights on at $50 oil. Most of these guys won’t be able to keep the lights on at $65 or $70 oil."
May 2016
2016, May, 19, 20:45:00
U.S. BANKRUPTCY UP - 2
Many companies on the teetering on the brink of insolvency find themselves buried under high interest rates and lack of deployable capital due to low commodity prices. Many banks have cut oil company credit lines as part of the semi-annual review by lenders. But the combined $8.9 billion in debt between the eighteen companies still looms ever menacingly in the background.
May 2016
2016, May, 19, 20:40:00
U.S. OIL & GAS PRODUCTION DOWN
Crude oil production in June from the seven major US shale regions is expected to fall 113,000 b/d month-over-month to 4.85 million b/d. Gas production from the regions is forecast to fall 464 MMcfd.
May 2016
2016, May, 19, 20:35:00
OIL COMPANIES RESTRUCTURING
Oil and gas producers depend largely on bank credit lines to run their businesses. Cmpanies getting ready to restructure are working closely with their bankers before filing for bankruptcy.
May 2016
2016, May, 19, 20:30:00
OIL DRILLING EFFICIENCY
As the number of failed operators mounts, the surviving companies are laying the groundwork for what they forecast will be an era of slower but steadier growth in the state at the epicenter of the U.S.’s energy boom.
May 2016
2016, May, 19, 20:25:00
TECHNIP & FMC MERGER: $20 BLN
The transaction is expected to deliver annual pretax savings of at least $400 million as of 2019 and boost earnings per share significantly, the companies said in a statement on Thursday.
May 2016
2016, May, 19, 20:20:00
TRANSCANADA & CPG: $13 BLN
Including the assumption of CPG debt, the total enterprise value of the transaction is approximately $13 billion.
May 2016
2016, May, 19, 20:15:00
PETROBRAS SELLS $6.75 BLN
State-controlled Petróleo Brasileiro SA raised $6.75 billion on Tuesday from a sale of five- and 10-year dollar-denominated bonds, in a closely watched return to global debt markets after the suspension of Brazilian President Dilma Rousseff.