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OPEC’s Front Lines in the Shale Fields and Wall Street

OPEC’s Front Lines in the Shale Fields and Wall Street thumbnail

Oil bulls pinning their hopes on tumbleweeds in East Texas may now be peering further south. The argument for oil rebounding after last year’s crash rests largely on cash flow-constrained shale drillers in Texas and other states downing tools. The roughly 30% rally since mid-March in front-month oil futures, to almost $60 a barrel, has […]

Data will replace oil as source of energy

Data will replace oil as source of energy thumbnail

The manufacturing industry of the future will not need oil because data will become the world’s largest source of energy, says Alibaba founder and executive chair Jack Ma. Ma, 50, made the comments Tuesday at the opening of 2015 Big Data Expo in Guiyang, the capital of southwest China’s Guizhou province. Responding to criticism that […]

Venezuela and Russia agree on $14 billion oil investment

Venezuela and Russia agree on $14 billion oil investment thumbnail

Venezuela and Russia’s top oil producer, Rosneft, have agreed on around $14 billion in investment in the South American OPEC country’s oil and gas sector, President Nicolas Maduro said. Maduro met the chief executive of state-owned Rosneft, Igor Sechin, on Wednesday, in the company of the president of state oil company PDVSA [PDVSA.UL], Eulogio del […]

Oil prices hit struggling oil companies

Oil prices hit struggling oil companies thumbnail

Low oil prices are endangering an increasing number of exploration and production companies. According to a new report from Moody’s Investors Service, the oil and gas industry could see the rate of defaults rise over the next year. The companies in danger of going belly up, not surprisingly, are the ones that already have low […]

The world is drowning in debt


The world is sinking under too much debt and an ageing global population means countries’ debt piles are in danger of growing out of control, the European chief executive of Goldman Sachs Asset Management has warned. Andrew Wilson, head of Europe, Middle East and Africa (EMEA), said growing debt piles around the world posed one […]

How Gen Y Will Change the Face of Oil, Gas

How Gen Y Will Change the Face of Oil, Gas thumbnail

During the downturn of the 1980s and 1990s, the oil and gas industry suffered from a drastically low influx of talent. As a result, the sector is now left with two dominant age demographics: Baby Boomers and Gen Y, also known as millennials. As many Boomers prepare to retire, the industry is set to retain […]

Hedge funds are in love with crude oil

Hedge funds are in love with crude oil thumbnail

Hedge funds love crude oil. Oil prices are recovering from the crash, and hedge funds have made big bets that oil prices will keep rallying. According to a report from Societe Generale, hedge funds are most bullish on crude oil among major commodities, or betting that the price of oil will rise. Overall, hedge funds […]

Doomsaying Falls on Ears Deafened by Latest Oil Rally


  Money manager David Einhorn’s doomsday outlook for shale oil drillers so far is failing to resonate with investors. A pessimistic assessment of the industry by the president of Greenlight Capital Inc. on Monday briefly shook the stock of the companies Einhorn targeted, dropping EOG Resources Inc. by as much as 2.8 percent after he […]

How Shale Is Becoming The Dot-Com Bubble Of The 21st Century


As I review the financials of one of the largest shale producers in the United States, Whiting Petroleum (WLL), I can’t help but notice the parallels to the .COM era of 1999 which, to some extent, has already returned to the technology and biotech sectors of today. Back then, the faster you burned cash to […]

The bottom is in for oil prices

The bottom is in for oil prices thumbnail

Traders think the decline in oil prices is over. A report from Bloomberg News on Sunday said traders had pulled their bets that oil prices would fall further at the “fastest pace on record,” citing data from the Commodity Futures Trading Commission, or CFTC. And according to John Kilduff at Again Capital, who spoke to […]

The Last Two Oil Crashes Show Peak Oil Is Real


Summary Recent oil crashes show you the hard floor for gauging value oil company equities. Properly understood, the crashes lend an insight into the concept of Peak Oil. All oil equity investors should understand the overarching upward trend on display here. PLEASE NOTE: ALL prices used in this article are using current 2015 dollars, inflation […]

The Disintegration of the World

The Disintegration of the World thumbnail

Leon Trotsky is not often invoked as a management guru, but a line frequently attributed to him would surely resonate with many business leaders today. “You may not be interested in war,” the Bolshevik revolutionary is said to have warned, “but war is interested in you.” War, or at least geopolitics, is figuring more and […]

How Much Does It Cost To Produce 1 Barrel Of Oil?


Summary The profit of any oil company depends on the costs it needs to produce 1 barrel of oil, technically spoken 1 barrel of oil equivalent (boe). Many European companies are pure oil producers and give direct clues about production costs of that commodity. In 2014, the European upstream industry did rather well, but it […]

Oil Executives Circle Iran

Oil Executives Circle Iran thumbnail

International sanctions have yet to be lifted on Iran, but Western oil executives this past week showed an appetite for doing business there at a stately hotel a few blocks from the Danube River. A little-publicized conference, the South Caspian Region Petroleum & Energy 2015 Summit, drew energy executives from Houston and London to Vienna […]

More Thoughts on the Current Oil Market

More Thoughts on the Current Oil Market thumbnail

WTI surged to close at $56.01 a barrel on Wednesday, while Brent closed at $62.86 after the US crude oil inventories showed a ‘less-than-expected increase’. The latest weekly inventory (week ending April 10) from EIA showed an increase of 1.3 million barrels, much less than the 10.9 million barrels of build from the previous week. […]

Oil Bulls Boost Wagers


Speculators increased bullish oil bets by the most in more than four years, wagering that the U.S. production boom is slowing. Hedge funds boosted net-long positions on West Texas Intermediate crude by 30 percent in the seven days ended April 7, the biggest jump since October 2010, U.S. Commodity Futures Trading Commission data show. Long […]

Peaked Oil?


Peak Oil is back at least for now! U.S. oil futures soared after he Energy Information Administration (EIA) acknowledged that U.S. oil output will fall despite earlier predictions to the contrary only to fall back after the American Petroleum Institute reported a 12.2 million barrel increase in crude oil supply. The market seemed to ignore […]

The world’s largest oil companies are about to start devouring each other

The world’s largest oil companies are about to start devouring each other thumbnail

It was only a matter of time. The Wall Street Journal reports that international oil giant Royal Dutch Shell is in talks to buy BG Group, a giant shipper of natural gas with extensive holdings in Brazil’s oil fields. It may be the opening shot of a consolidation war that many have been expecting. The reason, […]

Big Guns Still Betting On Oil Comeback In 2015


Surprisingly, the flow of crude oil is still accelerating, much like the money going into crude oil funds. Three of the largest crude oil funds include USO, OIL, and UCO. UCO is unique due to the fact that it’s an exchange-traded fund that uses leverage, mostly in the form of derivatives, to correspond to twice […]

Pickens: Oil Could Hit $100 A Barrel

Pickens: Oil Could Hit $100 A Barrel thumbnail

Amid falling oil prices mostly due to fears of oversupply and a surging U.S. dollar, American business magnate and financier T. Boone Pickens said Tuesday that oil prices could reach $100 a barrel by the end of next year. The 86-year-old billionaire, who chairs the hedge fund BP Capital Management, also revised his previous forecast […]

Across American oilfields, layoffs and auctions

Across American oilfields, layoffs and auctions thumbnail

Convinced he can ride out the slowing fortunes of America’s oil and gas industry, Shawn Kluver arrived at Thursday’s heavy equipment auction with money to spend and bets to make. Kluver flew to Colorado from North Dakota on a one-way ticket, confident he’d find bargains to drive home. “Everyone says we’re crazy, but we’re hoping […]

The Perfect Storm For Oil Hits In Two Months: US Crude Production To Soar Just As Storage Runs Out

The Perfect Storm For Oil Hits In Two Months: US Crude Production To Soar Just As Storage Runs Out thumbnail

Less than two weeks ago we warned that based on the current oil production trend, the US may run out of storage for crude as soon as June. This is what we said back in early March when the BTFDers were hoping WTI in the low $40s would never again be seen: Come June, when […]

The Ins and Outs of Cushing

The Ins and Outs of Cushing thumbnail

During last week’s monthly joint web chat for subscribers of The Energy Strategist and MLP Profits, readers asked a number of questions about the crude oil storage situation that is currently dragging down prices. Some wanted to know who might benefit from the growing inventories of stored crude. One of my answers was that, since Cushing […]

Are The Good Times Over For Growth In US Shale Gas?


U.S. natural gas production could decline in 2016 for the first time in 10 years, driven by low oil prices after a decade of gangbusters growth from shale plays. While most analysts forecast gas production will continue growing year-over-year, albeit at a slower pace, a couple of outlier analysts believe low oil and gas prices […]

Will The Oil Markets Capitulate Before Demand Recovers


Is the U.S. shale industry at a tipping point? Oil prices fell to a six-week low on Friday after the International Energy Agency warned that the U.S. may soon run out of room to store all the oil being pumped out of shale plays across the country. As oil starts to back up, the worry […]

The gold:oil ratio is speaking

The gold:oil ratio is speaking thumbnail

As a believer in the power of diversification and inflation protection a basket of commodities can provide in a passive index framework, it is hard to grasp how much investors love oil and gold. It must be that oil is the biggest, most economically significant commodity, and gold is the shiniest, most prized metal – […]

The U.S. Oil Bust Just Got Worse

The U.S. Oil Bust Just Got Worse thumbnail

The price of oil did today what it has been doing for a while: it waits for a trigger and plunges. As I’m writing this, West Texas Intermediate is down 4.4%, trading at $44.99 a barrel, less than a measly buck away from this oil bust’s January low. It’s down over 20% from the peak […]

Shale sub-prime and the Ides of March


“Sub-prime” is the term by which became known the debt market segment that served low quality housing in the US. Essentially these were products supporting mortgages to low-middle class families, that in 2006/07, up against the simultaneous rise in interest rates and commodities prices, produced a wave of defaults that lead to the 2008 financial […]

BP CEO: ‘It’s going to be very painful’

BP CEO: ‘It’s going to be very painful’ thumbnail

“We’re back into the normal world of volatility for oil and gas prices,” he said on a CNBC-hosted panel. “Anything that happens that fast can have unintended consequences.” BP was the first European major to sound the alarm on tumbling oil prices – on December 10, it warned that it was implementing a cost-cutting program […]

North America will continue to build market share in global oil market

North America will continue to build market share in global oil market thumbnail

“Today’s low prices will encourage consumption” Today’s global oil market collapse is eerily reminiscent of the dot com crash of 2000. Like the 1995-99 hype accompanying the rise in internet stocks, over the last several years there has been enormous promotion of the “game changing” unconventional technologies used to develop North American shale and oil […]

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