Latest Oil Market News

Analyst to Australia's LNG investors: Don't expect government relief in face of soaring costs

While the Australian LNG sector has massive financial potential, ballooning development costs, driven by the prodigious strength of the Australian dollar, are continuing to chip away at profit forecasts. But despite the emergence of such a challenging macroeconomic environment, the national government is unlikely to offer concerned investors any respite, says an energy expert with research and consulting firm GlobalData.

Outlook on US exploration and production industry remains stable, says report

Most rated US exploration and production (E&P) issuers continue to carry stable outlooks and will continue to remain stable at least for the remainder of this year, said Standard & Poor's Ratings Services in an industry report card published May 17, 2013, titled "Outlook On US Exploration And Production Industry Remains Stable On Strong Oil Prices."

EC raids trading offices of 3 major oil companies amid price-fixing reports

European Commission investigators raided the trading offices of three major oil companies and a price reporting agency this week amid complaints about price-fixing and collusion in the global crude oil, refined products, and biofuels markets. At issue is the means of settling the markets on a daily basis and how these companies participate in the process.

Oil and gas transaction appetite down slightly as confidence in economic outlook grows

Oil and gas executives are increasingly optimistic about the global economy and industry jobs, according to Ernst & Young’s 8th Global Capital Confidence Barometer.

Is the price of Freedom too high? Kinder Morgan's crude pipeline to California - Part 2

The proposed $2 Billion Kinder Morgan Freedom pipeline project is conducting an open season for shipper commitments from West Texas to California. The California refining market has long operated like an island within the US and has so far received few supplies from new domestic production. To proceed with the project Kinder need shippers to make long term commitments but today’s unsettled markets place a premium on flexibility. Today we conclude our two-part analysis of the chances that the pipeline will get built.

Is the price of Freedom too high? Kinder Morgan's crude pipeline to California

Kinder Morgan is conducting an open season to convert an El Paso Natural Gas pipeline to crude oil service from the Permian Basin in West Texas to California refineries. The ”Freedom Pipeline” project would cost as much as $2 Billion. Before going ahead they need to convince crude producers in the Permian and/or refiners in California to make long term commitments to the pipeline. Today we begin a two part assessment of the chances that this pipeline will get built.

S&P report: Canadian oil and gas industry is in for a subdued year

So far this year, Canada’s oil and gas industry is continuing to expand, but at a less healthy pace than it has enjoyed recently, says a report published May 8 by Standard & Poor's Ratings Services.

How national oil companies can fuel economic development

National Oil Companies are transforming themselves into lean, professionally managed enterprises, shaking off old criticisms of being overstaffed and underfunded. They now compete with major private international oil companies to explore, develop and produce oil and gas domestically and abroad.

Foreign investors play increasing role in US shale development

Investors from outside the United States are playing an increasingly vital role in the US tight oil and shale natural gas industry, according to the US Energy Information Administration.

Bakken NGLs production growth

Natural gas liquids production from the Bakken has increased from only 20 Mb/d two years ago to almost 50 Mb/d today. And that is with nearly one-third of the natural gas in the region being flared and no outlet for ethane. For years gathering, processing and pipeline constraints have held back production growth. But that’s all changing. ONEOK has completed their NGL pipeline and plant expansion project and more outlets are on the way. Production could rise to more than 300 Mb/d by 2018.  In today’s blog, we examine the Bakken NGL situation.

Top 10 Year-to-Date Production ranked by BOE
(as published in October 2012)

Rank
Company
BOE
1 Samson Investment Co.
17,783,426
2 Merit Energy Co.
17,729,544
3 GeoSouthern Energy Corp.
11,862,519
4 Hilcorp Energy Co.
11,659,668
5 Yates Petroleum Corp.
9,443,577
6 Mewbourne Oil Co.
6,638,125
7 Endeavor Energy Resources LP
6,226,431
8 Petro-Hunt Group
5,875,281
9 Walter Oil & Gas Corp.
5,529,328
10 LLOG Exploration Co.
5,321,915