Drilling in North America s Low Oil Price Environment
|
|
- Cleopatra West
- 6 years ago
- Views:
Transcription
1 Drilling in North America s Low Oil Price Environment AMM 8 th Steel Tube & Pipe Conference March 10, 2015 Nicole Leonard, Bentek Energy 2014 Platts, McGraw Hill Financial. All rights reserved.
2 Key Takeaways Falling oil prices are a result of growing production, particularly from the US, and weakening demand around the globe. Drilling activity has declined but existing rigs are more efficient they can drill faster and produce more oil. North American production expected to continue to grow despite the low-price environment. Oil prices will have to fall further to incentivize producers to stop drilling. 2
3 Bentek Energy is a leader in energy market fundamentals 40% Majors, producers, marketers, industrials 22% Pipelines, utilities, midstream 33% Financial entities and Hedge Funds 5% Government, associations, consultants 3
4 Price drop driven by global supply growth, weakening demand $/bbl MMb/d $140 $120 $100 Platts Spot Price Assessment and Global Supply $80 $60 $40 $20 $ Total Global Crude Supply WTI Brent Source: Bentek, Platts, IEA, Data as of February
5 Brent and WTI have fallen to less than half the 2014 high by mid-january $ $ $ $90.00 $80.00 $70.00 $60.00 $50.00 $40.00 Growing cargo glut 2014 Price Forecast Libyan IEA Forecast ReboundRevision Saudi cuts OSP to US Japan enters recessionopec meeting WTI Brent Source: Bentek, Data as of January
6 $/MMbtu High value of liquids drives persistent oil-focused drilling $30.00 $25.00 $20.00 $15.00 $10.00 $5.00 $0.00 Gas, Oil and NGL Price Comparison: MMBTU Equivalent WTI HH MB NGL Brent CAPP Source: Bentek, Data as of March
7 Crude oil production continues to grow at unprecedented rates MMb/d Crude Oil Production US Field Production of Crude Oil (since 2012) Jan 2012 Apr 2012 Jul 2012 Oct 2012 Jan 2013 Apr 2013 Jul 2013 Oct 2013 Jan 2014 Apr 2014 Jul 2014 Oct 2014 Jan 2015 MMb/d US Field Production of Crude Oil (since 1983) ~ 8.7 MMb/d Source: Bentek, Data as of March
8 Prices rebound slightly in February as rig activity subsides WTI/Brent Spot Prices $ $ $ $90.00 $80.00 $70.00 $60.00 $50.00 $40.00 US producers cut rig activity WTI Brent Source: Bentek, Data as of March
9 Rig count had fallen 60% from October peak 19/+1 ALASKA Rig Increases 29/-69 CALIFORNIA 12/-21 11/-15 OTHER ROCKIES 9/-12 0/-1 5/-5 19/ /-43 POWDER RIVER WIND RIVER GREEN RIVER UINTA SAN JUAN 6/-8 PICEANCE 0/-1 RATON PERMIAN 335/-206 WILLISTON 46/-17 D-J ANADARKO 145/ /-28 FT WORTH OTHER MIDCONTINENT 45/-35 EAST TX 165/-52 34/-6 28/-60 5/-2 ILLINOIS 79/-14 5/-14 ARK FAYETTEVILLE TX GULF Rig Declines EAGLE FORD Source: BENTEK, March /-1 ARK WOODFORD ARKLA 33/-1 AL-MS-FL 9/-16 LA GULF TX GULF MICHIGAN 1/-4 37/-8 16/-9 UTICA OFFSHORE 37/-2 33/-13 3/+2 OTHER APPALACHIAN MARCELLUS DRY MARCELLUS WET TOTAL 1326 CHANGE -777 Active rig count: Mar 6, 2015 / Change in rig count from Nov 7,
10 Horizontal rigs gain market share over less efficient vertical rigs Total US Rig Counts by Orientation 75% 70% 65% 60% 55% 50% 45% 40% Source: Bentek, RigData, Data as of March 2015 DIR VER HOR % HOR 10
11 # of active rigs Rig declines primarily from less efficient rigs Permian Rig Counts by Orientation Permian Rig Count October 2014: 549 rigs March 2015: 335 rigs Vert/Dir rigs decrease 65% Horz rigs decrease 21% Directional Vertical Horizontal Source: Bentek, Data as of March
12 Permian producers continue to realize horizontal drilling efficiencies # of horizontal rigs Average IP rate (b/d) Permian Horizontal Rig Count and Average IP Rates Source: Bentek, Data as of March 2015 Horizontal Rig Count Avg. Horizontal IP Rate (b/d) 12
13 # of rigs Top basins account for 50% of active rigs in February, versus 35% in ,200 1, Rig Count by Area Other US Anadarko Eagle Ford Permian Bakken Source: Bentek, Data as of March
14 Lateral Length (feet) Lateral lengths and total depths of wells expected to increase 20,000 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 Lateral Lengths in Colorado Source: Bentek, Data as of March 2015 Average Lateral Length 14
15 Days Producers can drill more wells per month with existing rigs Average Drill Time 4 days 8 days days Q32012-Q42013-Q12013-Q22013-Q32013-Q42014-Q12014-Q22014-Q32014-Q4 Anadarko Permian Williston Source: Bentek, Data as of March
16 Mb/d North American crude to grow nearly 40% from 12.3 MMb/d in 2014 to 16.3 MMb/d in 2020 US Crude Oil Production Projection Bakken Eagle Ford Permian Offshore DJ Basin Other US Canada Previous Production Outlook Source: Bentek Oil & Gas Production Monitors, Data as of February
17 MM bbls Crude stocks build on low refining demand, oversupply US Crude Stocks 5 Year Min-Max Range Avg Source: EIA, Data as of March
18 $/bbl Current forecast implies need for further capex and drilling reduction Mb/d $105 $95 $85 Bentek s Crude Oil Price Forecast and Supply/Demand Balance $ $65 $55 $45 $35 At currently drilling activity. 2015: $41.67/bbl 2020: $61.46/bbl 2025: $67.97/bbl North American Crude Balance WTI Source: Bentek s Crude Oil Market Call, Bentek s PADD Balances, Data as of February
19 Key Takeaways Falling oil prices are a result of growing production, particularly from the US, and weakening demand around the globe. Drilling activity has declined but existing rigs are more efficient they can drill faster and produce more oil. North American production expected to continue to grow despite the low-price environment. Oil prices will have to fall further to incentivize producers to stop drilling. 19
20 Thank You BENTEK is an energy market analytics company, focused on the natural gas, NGL and crude oil markets. Nicole Leonard Energy Analyst, Crude Oil DISCLAIMER. THIS REPORT IS FURNISHED ON AN AS IS BASIS. BENTEK DOES NOT WARRANT THE ACCURACY OR CORRECTNESS OF THE REPORT OR THE INFORMATION CONTAINED THEREIN. BENTEK MAKES NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE USE OF ANY INFORMATION CONTAINED IN THIS REPORT IN CONNECTION WITH TRADING OF COMMODITIES, EQUITIES, FUTURES, OPTIONS OR ANY OTHER USE. BENTEK MAKES NO EXPRESS OR IMPLIED WARRANTIES AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANT- ABILITY OR FITNESS FOR A PARTICULAR PURPOSE. RELEASE AND LIMITATION OF LIABILITY: IN NO EVENT SHALL BENTEK BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, OR CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFIT) ARISING OUT OF OR RELATED TO THE ACCURACY OR CORRECTNESS OF THIS REPORT OR THE INFORMATION CONTAINED THEREIN,WHETHER BASED ON WARRANTY, CONTRACT, TORT OR ANY OTHER LEGAL THEORY. 20
Stronger than the others
Stronger than the others Natural gasoline demand, markets, and pricing Maria Mejia, NGL Analyst September 29, 2014 2014 Platts, McGraw Hill Financial. All rights reserved. Bentek Energy is a leader in
More informationPREVIEW FundamentalEdge Report October 2018
GLOBAL CRUDE OIL SUPPLY AND DEMAND PREVIEW FundamentalEdge Report October 2018 learn more at drillinginfo.com Key Takeaways This is a PREVIEW of a 20+ Page Report Global Crude Oil Supply and Demand is
More informationCrude Oil Markets, Structures, and Mechanisms. Jenna Delaney, Senior Energy Analyst, Platts Bentek Products May 2017
Crude Markets, Structures, and Mechanisms Jenna Delaney, Senior Energy Analyst, Platts Bentek Products May 2017 Disclaimer Restrictions on Use: You may use the prices, indexes, assessments and other related
More informationAdam Bedard, CEO ARB Midstream, LLC Midstream View on Rail. June 2, 2015
Adam Bedard, CEO ARB Midstream, LLC Midstream View on Rail June 2, 2015 ARB Midstream Overview Growth oriented, infrastructure development company focused on early stage, organic development projects Provide
More informationRecent Developments in EU Refining and in the Supply and Trade of Petroleum Products
Recent Developments in EU Refining and in the Supply and Trade of Petroleum Products Third Meeting of the EU Refining Forum Brussels, 22 May 2014 Toril Bosoni, International Energy Agency OECD/IEA 2014
More informationFor Region 5 and Region 7 Regional Response Teams Meeting April 22, 2015 St. Charles, Missouri via video/teleconference
For Region 5 and Region 7 Regional Response Teams Meeting St. Charles, Missouri via video/teleconference By Grant Nülle, Upstream Oil & Gas Economist, Exploration and Production Analysis Team U.S. Energy
More informationU.S. Rail Crude Oil Traffic
U.S. Rail Crude Oil Traffic Association of American Railroads November 215 Summary U.S. crude oil production has risen sharply in recent years, with much of the increased output moving by rail. In 28,
More informationMay 2018 Short-Term Energy Outlook
May 2018 for Williston Basin Petroleum Conference Bismarck, N.D. by Dr. Linda Capuano Administrator U.S. Energy Information Administration Independent Statistics & Analysis www.eia.gov Brent crude oil
More informationNGLs and Feedstock Market Overview
NGLs and Feedstock Market Overview Platts Inaugural Petrochemical Seminar Kelly Van Hull Manager Energy Analytics Processing & Fractionation Additions 45 129 1778 1845 553 232 6 4 17 695 * Expansions Through
More informationRice Global E&C Forum August 9, 2013
Rice Global E&C Forum August 9, 2013 Midyear Forecast: July 1, 2013 Conglin Xu, Senior Editor-Economics Laura Bell, Statistics Editor Alan Petzet, Chief Editor-Exploration Forecast & Review: Jan. 7, 2013
More informationU.S. Rail Crude Oil Traffic
U.S. Rail Crude Oil Traffic Association of American Railroads May 217 Summary U.S. crude oil production has risen sharply in recent years, with much of the increased output moving by rail. In 28, U.S.
More informationThe Shale Boom Heard Around the World
The Shale Boom Heard Around the World Ben Montalbano Director of Research and Operations Energy Policy Research Foundation, Inc. (EPRINC) Clingendael Institute November 5, 2013 Is this the wrong question?
More informationEnergy Outlook. U.S. Energy Information Administration. For EnerCom Dallas February 22, 2018 Dallas, TX
Energy Outlook For EnerCom Dallas Dallas, TX Jeff Barron Industry Economist, U.S. Energy Information Administration U.S. Energy Information Administration Independent Statistics & Analysis www.eia.gov
More informationWyoming: At the Crossroads of the Boom
Wyoming: At the Crossroads of the Boom Trisha Curtis Director of Research, Upstream and Midstream Energy Policy Research Foundation, Inc. (EPRINC) Wyoming Pipeline Authority October 15th, 213 Thousand
More informationNorth American Storage and Transportation Trends
North American Storage and Transportation Trends Brian Busch Director, Oil Markets and Business Development www.genscape.com 2016 Genscape Incorporated. All rights reserved. What we do 2 Current State
More informationDefining the Debate: Crude Oil Exports
Defining the Debate: Crude Oil Exports Trisha Curtis, Director of Research Upstream and Midstream Energy Policy Research Foundation, Inc. (EPRINC) Brookings Task Force February 28th, 214 About EPRINC www.eprinc.org
More informationENERGY SLIDESHOW. Federal Reserve Bank of Dallas
ENERGY SLIDESHOW Updated: January 16, 2019 ENERGY PRICES www.dallasfed.org/research/energy Brent & WTI & Crude Brent Oil Crude Oil Dollars per barrel 140 120 100 Brent (Jan 11 = $58.64) WTI (Jan 11 = $50.78)
More informationU.S. Total Crude Oil Supply and Demand
MMbbl U.S. Total Crude Oil Supply and Demand Mbbl/d U.S. Total Crude Oil Supply and Demand Table: A Previous Current ly Previous Forecast Change Estimate Estimate 4/13/18 4/20/18 4/20/18 4/20/18 4/27/18
More informationRegional Refining Outlook
Regional Refining Outlook Implications for Crude Demand Platts Crude Summit 15 May 213 David Wech JBC Energy GmbH 13 th May 213 Research - Energy Studies - Consulting - Training Disclaimer All statements
More informationEmerging Trends in Petroleum Markets
Emerging Trends in Petroleum Markets For Defense Logistics Agency, Worldwide Energy Conference Washington, D.C. By T. Mason Hamilton, Petroleum Markets Analyst U.S. Energy Information Administration Independent
More informationA summary of national and global energy indicators. FEDERAL RESERVE BANK of KANSAS CITY
THE U.S. Energy DATABOOK A summary of national and global energy indicators JULY 1, 17 FEDERAL RESERVE BANK of KANSAS CITY SUMMARY OF CURRENT ENERGY CONDITIONS The number of total active drilling rigs
More informationThe Impact of Shale Oil Production Growth in the US
The Impact of Shale Oil Production Growth in the US Presentation to IMSF, Copenhagen By Selena Yan, Senior Analyst www.clarksons.com Disclaimer The material and the information (including, without limitation,
More informationENERGY SLIDESHOW. Federal Reserve Bank of Dallas
ENERGY SLIDESHOW Updated: March 13, 2018 ENERGY PRICES www.dallasfed.org/research/energy Brent & WTI & Crude Brent Oil Crude Oil Dollars per barrel 140 Brent (Mar 9 = $65.12) WTI (Mar 9 = $61.65) 120 100
More informationBakken Well Economics & Production Forecasting
Bakken Well Economics & Production Forecasting House Energy and Natural Resources January 9, 2015 Justin J. Kringstad Geological Engineer Director, North Dakota Pipeline Authority Rebuilding Oil & Gas
More informationRESEARCH & KNOWLEDGE MANAGEMENT. Oil & Gas Updates: US Shale Industry
RESEARCH & KNOWLEDGE MANAGEMENT FEBRUARY 218 Key highlights US crude oil and condensate proved reserves amounted to 35.2bln barrels (-12% YoY) in 215, based on the latest available data. The share of tight
More informationUS Crude Oil Reshaping International Crude Oil Flows. Olivier Jakob,
US Crude Oil Reshaping International Crude Oil Flows Olivier Jakob, ojakob@petromatrix.com www.petromatrix.com Claimer Petromatrix publishes since 2006 a daily market note on the oil markets Our reports
More informationImplications of the U.S. Shale Revolution
Implications of the U.S. Shale Revolution For October 17, 214 Chicago, Illinois By Adam Sieminski, Administrator U.S. Energy Information Administration U.S. Energy Information Administration Independent
More informationOil Markets into Peter Davies Chief Economist, BP plc British Institute of Energy Economics London. 24 January, 2006
Oil Markets into 26 Peter Davies Chief Economist, BP plc British Institute of Energy Economics London. 24 January, 26 Outline Oil and energy today How did we get to here? Prospects for 26 Into the medium
More informationThe effects of increasing access to the U.S. Gulf Coast on global and North American price spreads
The effects of increasing access to the U.S. Gulf Coast on global and North American price spreads Presented by: John Homan Marketing and Logistics Representative, Laricina Energy Ltd. Crude Oil Markets,
More informationGas & electricity - at a glance
$/barrel /tco 2 e p/therm /MWh Gas & electricity - at a glance Week-on-Week Annual Gas Price Changes Short-term gas contracts jump Cold snap forecast for the first half of February, lifting demand Longer-dated
More informationThe Shifting Ground in US Crude Markets. Houston, TX April 15, 2013
The Shifting Ground in US Crude Markets Houston, TX April 15, 2013 Agenda Will production growth in Texas, Bakken, etc. overwhelm domestic demand? New Markets Eagle Ford, Permian to the USGC, Bakken to
More information05/17/2011
RETAIL DIESEL FUEL OUTLOOK A Fundamental Petroleum Trends Weekly Report Lehi German Tel: 816.505.0980 www.fundamentalpetroleumtrends.com Tuesday, May 17, 2011 Diesel Fuel Price Trends U.S. retail diesel
More informationU.S. Natural Gas Outlook The 3rd London Gas & LNG Forum September 26 and 27, 2016 The Rag Army & Navy Club London
U.S. Natural Gas Outlook The 3rd London Gas & LNG Forum September 26 and 27, 216 The Rag Army & Navy Club London Lucian Pugliaresi Energy Policy Research Foundation, Inc. Washington, DC 1 About EPRINC!
More informationPetroleum and Natural Gas Situation
Petroleum and Natural Gas Situation John C. Felmy Chief Economist and Director Statistics Department American Petroleum Institute Felmyj@api.org www.api.org www.gasolineandyou.org www.naturalgasfacts.org
More informationTight Oil: A Solution to U.S. Import Dependence?
Tight Oil: A Solution to U.S. Import Dependence? Geological Society of America Denver, Colorado October 28, 213 J. David Hughes Global Sustainability Research Inc. Post Carbon Institute The Shale Revolution
More informationJanuary 2018 Monthly Update North Dakota Pipeline Authority Justin J. Kringstad January 16, 2018
January 2018 Monthly Update North Dakota Pipeline Authority Justin J. Kringstad January 16, 2018 US Williston Basin Oil Production - 2017 JJ Kringstad - North Dakota Pipeline Authority 2 Monthly Production
More informationChanging Crude Qualities and Their Impacts on U.S. Refinery Operations AM-14-42
Changing Crude Qualities and Their Impacts on U.S. Refinery Operations Presented to: AFPM 2014 Annual Meeting March 25, 2014 by John M. Mayes International consulting practice since 1971 Downstream focus;
More informationTurmoil in Refining The Shakeout Continues
Turmoil in Refining The Shakeout Continues OPIS National Supply Summit Las Vegas, Nevada October 22 24, 2012 John B. O Brien Executive Chairman Baker & O Brien, Inc. All rights reserved. Conclusions from
More informationBakken Investor Conference North Dakota Pipeline Authority Justin J. Kringstad April 25, Minot, ND. March 8,
Bakken Investor Conference North Dakota Pipeline Authority Justin J. Kringstad April 25, 2013 - Minot, ND March 8, 2013 1 April 22, 2013 187 Drilling Rigs North Dakota Pipeline Authority 2 ND Drilling
More informationCRUDE BY RAIL REFINER S PERSPECTIVES. Presented by Joseph Israel, February 2013
CRUDE BY RAIL REFINER S PERSPECTIVES Presented by Joseph Israel, February 2013 2 Background Profitability Profile Refinery profitability profile is driven by: Location Feedstock and production parity points
More informationU.S. Crude Exports and Impact on Trade
U.S. Crude Exports and Impact on Trade 32 nd Annual Asia Pacific Petroleum Conference Dr. Helen Currie Senior Economist September 7, 2016 Cautionary Statement The following presentation includes forward-looking
More informationDiesel prices finally ease Winter weather and international events could determine your fuel bill for 2018 By Bryce Knorr, senior grain market analyst
Diesel prices finally ease Winter weather and international events could determine your fuel bill for 2018 By Bryce Knorr, senior grain market analyst After rallying to their highest level in nearly three
More informationWEEKLY REFINING INDICATORS REPORT WEEK ENDING 06/17/2016
WEEKLY REFINING INDICATORS REPORT WEEK ENDING 06/17/2016 Blake Fernandez, Analyst 713.393.4524 blakef@howardweil.com Quick Take: Somewhat bearish stats on the refining side as we had hoped for some gasoline
More informationThursday, March 6, 2014 Houston, TX. 8:30 9:40 a.m. AN ECONOMIST S-EYE VIEW OF THE ENERGY INDUSTRY: HYDROCARBON HAT TRICK
Thursday, March 6, 214 Houston, TX 8:3 9:4 a.m. AN ECONOMIST S-EYE VIEW OF THE ENERGY INDUSTRY: HYDROCARBON HAT TRICK Presented by Jesse Thompson Business Economist Federal Reserve Bank of Dallas, Houston
More information02/02/2011
www.fundamentalpetroleumtrends.com 2/2/211 WEEKLY GASOLINE FUNDAMENTAL-PRICE-BASIS OUTLOOK A Fundamental Petroleum Trends Weekly Report Lehi German Tel: 816..98 www.fundamentalpetroleumtrends.com Wednesday,
More informationThe Changing composition of bunker fuels: Implications for refiners, traders, and shipping
Platts 4 th European Refining Markets Conference The Changing composition of bunker fuels: Implications for refiners, traders, and shipping Wade DeClaris, EVP Marine World Fuel Services Corp. Agenda: Role
More informationNEU Electric and Natural Gas Price Update
$ / MWH Jan-11 May-11 Sep-11 Sep-12 Jan-13 Electric: Short-Term Outlook The NYMEX Northern Illinois Hub 12-month forward price at the end of August 2016 for the September 2016 to August 2017 period was
More informationThe Changing Face of Global Refining
The Changing Face of Global Refining OPIS National Supply Summit Las Vegas, Nevada October 24-26, 2010 John B. O Brien, Executive Chairman Baker & O Brien, Inc. All rights reserved. The Changing Face of
More informationRecent Developments in EU Refining and in the Supply and Trade of Petroleum Products
Recent Developments in EU Refining and in the Supply and Trade of Petroleum Products Second Meeting of the EU Refining Forum Brussels, 27 November 2013 Toril Bosoni, International Energy Agency OECD/IEA
More informationPetrochemical Feed Stock, Global Olefin & Polyolefin Outlook
Feed Stock, Global Olefin & Polyolefin Outlook Paul Joo S&P Global Platts Paul.joo@spglobal.com Strategic Accounts APAC July 2017 Asian Petrochemical Industry = The Cow in the middle? Still be In a Fix
More informationERGMed Coastal. Refining
ERGMed Coastal Refining 11 Refining Industry Trend: Capacity World total oil products demand and crude runs increasing, faster than refining capacity. World Source: International Energy Agency (IEA), Oil
More informationPrecios del Petróleo, la OPEP y los Mercados
Precios del Petróleo, la OPEP y los Mercados Javier Díaz Manager, Energy Analysis & Consulting S&P Global Platts August 23, 2017 X Feria y Congreso International BOLIVIA GAS & ENERGIA 2017 Key Themes in
More informationENERGY & FEEDSTOCKS OUTLOOK Global Plastics Summit
SEPTEMBER 2016 ENERGY & FEEDSTOCKS OUTLOOK Global Plastics Summit Mark Eramo, Vice President IHS Chemical +1 281-752-3202 mark.eramo@ihsmarkit.com Energy & Feedstocks Agenda Chemical Value-Chain & The
More informationU.S. Crude Oil: The Upside & The Other Side
U.S. Crude Oil: The Upside & The Other Side Greg Haas ghaas@hartenergy.com Director of Research, Integrated Oil & Gas Houston, Texas March 13, 2014 Disclaimer Reports by Hart Energy Research & Consulting,
More informationSasha Weintraub Duke Energy
Fueling Up within the Game Changer Sasha Weintraub Duke Energy The Game Changer is Happening Definition of game changer Completely changing the way something is done, thought about, or made Time Magazine
More informationWhat is the Future of Competitive Markets? Some Fundamental Preliminaries and View from Events in the PJM Market
What is the Future of Competitive Markets? Some Fundamental Preliminaries and View from Events in the PJM Market Paul M. Sotkiewicz, Ph.D President December 7, 2016 What are the ideal properties of competitive
More informationOil Market Outlook 100 dollar oil In the cards again?
Oil Market Outlook 100 dollar oil In the cards again? Geopolitical events, a global bunker spec change plus the effect of CAPEX cuts in 2014-16 makes for a potent mix in 2020 DNB oil story in pictures
More informationMeasuring the Quality of the Crude Oil Supply and its Impact on Basis Differentials
Measuring the Quality of the Crude Oil Supply and its Impact on Basis Differentials Quality Flexibility Relationship Innovation Information = Advantage Ali AL-SUMAITI PhD Candidate, Colorado School of
More informationB A K E R & O B R I E N
B A K E R & O B R I E N I N C O R P O R A T E D Q3 : U. S. Refining Margins Remain Robust Special Topic: Domestic Light Oil Processing in the U.S. Gulf Coast Have We Hit the Limit? Houston, October 30,
More informationMarket Report Series Oil 2018
Market Report Series Oil 218 Norwegian Ministry of Energy, 17 April 218 Neil Atkinson, Head of Oil Industry and Markets Division Toril Bosoni, Senior Oil Market Analyst, Oil Industry and Markets Division
More informationFuel Focus. Understanding Gasoline Markets in Canada and Economic Drivers Influencing Prices. Issue 20, Volume 8
Fuel Focus Understanding Gasoline Markets in Canada and Economic Drivers Influencing Prices Issue 20, Volume 8 October 18, 2013 Copies of this publication may be obtained free of charge from: Natural Resources
More informationCurrent Oil Market Issues. Energy Training Week Paris, April 2013
Current Oil Market Issues Energy Training Week Paris, April 2013 Short and Medium-Term Analysis & Forecasting: Current Oil Market Issues Antoine Halff Crude oil prices retreat from recent highs $/bbl 130
More informationIndustrial Commission Update. Justin J Kringstad Geological Engineer Director North Dakota Pipeline Authority
Industrial Commission Update Justin J Kringstad Geological Engineer Director North Dakota Pipeline Authority January 24, 2018 US Williston Basin Oil Production - 2017 JJ Kringstad - North Dakota Pipeline
More informationIEA Refinery Outlook European Recovery in Sight?
IEA Refinery Outlook European Recovery in Sight? Platts 6 th Annual European Refining Markets Conference Brussels, 24-25 September 2012 Toril Bosoni, International Energy Agency Subdued Global Oil Demand
More informationThe Fuel and Vehicle Trends Report August 31, 2016
ISSN 1948-2388 The Fuel and Vehicle Trends Report August 31, 2016 This report is a summary of the latest fuel prices and other oil industry key statistics. In addition, this report provides the latest
More informationFundamental Oil Market Outlook
Fundamental Oil Market Outlook ICE Forum David Wech JBC Energy GmbH 13 November 2012 Research - Energy Studies - Consulting - Training 21 November 2012 Slide 1 Disclaimer All statements other than statements
More informationTANK BARGE OPPORTUNITIES RELATED TO CRUDE OIL PRODUCTION & MOVEMENT
TANK BARGE OPPORTUNITIES RELATED TO CRUDE OIL PRODUCTION & MOVEMENT Third Edition A SPECIAL INDUSTRY STUDY Prepared by: November 2014 775 Ridge Lake Boulevard, Suite 400 ~ Memphis, Tennessee 38120-9403
More informationDOWNSTREAM PETROLEUM 2017 DOWNSTREAM PETROLEUM
DOWNSTREAM PETROLEUM International and Asian Refining The global refining industry is fundamentally changing as emerging and maturing trends re-shape the global supply and demand patterns for crude oil
More informationКонференция «Глобальные и локальные рынки нефти, газа и нефтепродуктов»
Конференция «Глобальные и локальные рынки нефти, газа и нефтепродуктов» МИРОВЫЕ РЫНКИ НЕФТИ СОСТОЯНИЕ ПЕРСПЕКТИВЫ И РИСКИ В УСЛОВИЯХ ВОЗРАСТАЮЩЕЙ КОНКУРЕНЦИИ ПРОИЗВОДИТЕЛЕЙ Артём Чен Старший Аналитик,
More informationGlobal Monthly February 2018
Global Monthly February 18 3 1-year Treasury yields 1-year breakeven inflation rate 1 1 15 16 17 18 February 18 5 3 Global GDP growth Composite PMI (RHS) Index 56 5 5 1 5 1 13 1 15 16 17 18 3..5. 1.5 1.
More informationA perspective on the refining industry. Platts European Refining Summit Brussels, 29 September2016 Kristine Petrosyan, International Energy Agency
A perspective on the refining industry Platts European Refining Summit Brussels, 29 September2016 Kristine Petrosyan, International Energy Agency OECD/IEA 2016 mb/d European refiners: busy 2015 OECD Europe
More informationWhy U.S. Natural Gas Prices Should Double
http://blogs.forbes.com/arthurberman/?p=243 DOW to Drop 80% in 2016 80% Stock Market Crash to Strike in 2016, Economist Warns. Art Berman Contributor I write about plays and trends in the oil and gas business.
More informationINTERTANKO Istanbul Tanker Event. Demand Developments. David Martin Oil Industry & Markets Division OECD/IEA
INTERTANKO Istanbul Tanker Event Demand Developments David Martin Industry & s Division david.martin@iea.org - Istanbul, April 20-23, 2008 Medium-Term Outlook What is driving oil prices? Fundamentals or
More informationTrends in U.S. crude oil and petroleum product exports
Trends in U.S. crude oil and petroleum product exports For ENERCOM Oil & Gas Conference August 21, 218 Denver, Colorado By T. Mason Hamilton, Petroleum Markets Analyst, Office of Energy Markets and Financial
More informationBB&T Capital Markets Transportation Conference. Marta R. Stewart Executive Vice President Chief Financial Officer February 12, 2014
BB&T Capital Markets Transportation Conference Marta R. Stewart Executive Vice President Chief Financial Officer February 12, 2014 1 Norfolk Southern Update 2013 Overview First Quarter Update Business
More informationQ Analyst Teleconference. 9 August 2018
9 August 218 Disclaimer This presentation contains forward-looking statements that reflect the Company management s current views with respect to certain future events. Although it is believed that the
More informationGrowing U.S. Oil and Gas Production Set to Reshape Competitive Position of U.S. Refineries
Growing U.S. Oil and Gas Production Set to Reshape Competitive Position of U.S. Refineries Prepared by: Charles G. Kemp March 2013 Baker & O Brien, Inc. 12001 N. Central Expressway, Suite 1200 Dallas,
More informationMarket Report Series: Oil 2018 Analysis & Forecasts to Energy Community 10 th Oil Forum, Belgrade, 25 September 2018
Market Report Series: Oil 218 Analysis & Forecasts to 223 Energy Community 1 th Oil Forum, Belgrade, 25 September 218 Short term update: crude prices (excl. WTI) up strongly Aug/Sep $/bbl 8 Benchmark Crude
More informationSulphur Market Outlook
Sulphur Market Outlook The Outlook for the future Supply and Balance of the Global Sulphur Market Joanne Peacock, CRU International/BSC Creon Moscow December 2009 LONDON RALEIGH WASHINGTON MINNEAPOLIS
More informationPerspectives on US Energy Outlook, Cocktail Party Issues and Impacts on E&C Players
Perspectives on US Energy Outlook, Cocktail Party Issues and Impacts on E&C Players October 4, 211 1 World Oil Outlook 2 US Refining and Gasoline Outlook 3 US Natural Gas Outlook 4 US NGL Outlook Wood
More informationThe Supply of Oil. Projections to Oil and the Macroeconomy in a Changing World Federal Reserve Bank of Boston June 9, 2010 Boston, MA
The Supply of Oil Projections to 2035 Oil and the Macroeconomy in a Changing World Federal Reserve Bank of Boston June 9, 2010 Boston, MA Howard Gruenspecht, Deputy Administrator Near-term oil price uncertainty
More informationHigh fuel costs could last Diesel and propane may not get much cheaper in 2019 By Bryce Knorr, senior grain market analyst
High fuel costs could last Diesel and propane may not get much cheaper in 2019 By Bryce Knorr, senior grain market analyst In July I recommended using a dip in the energy market to lock in propane for
More informationFeaturing: Tom Kloza, Oil Price Information Service (OPIS) SPONSORED BY.
THE OUTLOOK OF FUEL Featuring: Tom Kloza, Oil Price Information Service (OPIS) SPONSORED BY TH E NATSO SHOW 2013 FEB 3-7 SAVANNAH, GA. www.opisnet.com tkloza@opisnet.com 1 Presentation By: Tom Kloza OPIS,
More informationEvolving Global Oil Trade Flows. IEA-IEF-OPEC Joint Meeting Vienna, March 2018
Evolving Global Oil Trade Flows IEA-IEF-OPEC Joint Meeting Vienna, March 2018 SHIFTING FLOWS: WHAT HAS THIS MEANT IN PRACTICE? US/Europe crude imports & exports Saudi crude to Poland Chinese teapots importing
More informationHotel Performance Outlook North Dakota Travel Industry Conference
Hotel Performance Outlook North Dakota Travel Industry Conference Kelsey Waite Business Development Executive, Destinations kwaite@str.com @Kelsey_STR 2017 STR, Inc. All Rights Reserved. Any reprint, use
More informationND Pipeline Authority Web Presentation
ND Pipeline Authority Web Presentation Bakken Well Economics Justin J Kringstad Geological Engineer Director North Dakota Pipeline Authority Please view replay video on the Pipeline Authority website for
More informationDownstream. Mike Wirth. Executive Vice President Downstream Chevron Corporation
Downstream Mike Wirth Executive Vice President Downstream What We Delivered in 2006 Base Business Record safety Record utilization Record energy efficiency Record earnings - $4 Billion Selective Growth
More informationNEU Electric and Natural Gas Price Update
Exelon s $24 Billion Energy Bill Senate Bill 2814 Short-Term Energy Price Outlook On November 15, 2016, Exelon, through its legislative supporters, introduced Senate Bill 2814, a massive 446 page document
More informationPERMIAN MASSIVE POTENTIAL, INFRASTRUCTURE COMMITMENTS NEEDED SOON
PERMIAN MASSIVE POTENTIAL, INFRASTRUCTURE COMMITMENTS NEEDED SOON Copyright 217 Cornerstone Macro. All rights reserved. This report is prepared exclusively for the use of Cornerstone Macro institutional
More informationMonthly Hog Market Update United States Hog Production
This information is provided as a resource by Saskatchewan Agriculture staff All prices are in Canadian dollars unless otherwise noted. Please use this information at your own risk. Monthly Hog Market
More informationShort - Term Outlook for the World Oil Market and Oil Price
Short - Term Outlook for the World Oil Market and Oil Price Supplement to the Short-term Energy Supply and Demand Outlook Presented at the 376th Regular Meeting of Research Briefings 1. Background of recent
More informationLight-Heavy Crude Oil Outlook: Implications for Coker Margins
Light-Heavy Crude Oil Outlook: Implications for Coker Margins Argus U.S./Canada Asphalt 2009 April 1, 2009 Ben Schrader ben.schrader@bakerobrien.com BAKER & O BRIEN Incorporated, All Rights Reserved Disclaimer
More informationGlobal Monthly March 2019
Global Monthly March 19 Percent of world bonds outstanding 3 5 15 5 Jan-1 Jun-1 Nov-1 Apr-15 Sep-15 Feb-1 Jul-1 Dec-1 May-17 Oct-17 Mar-1 Aug-1 Dec-1 Mar-19 March 19 Percent, year-on-year 7 5 3 1 1Q1 1Q
More informationThe Game Has Changed The Influence Of Shale Development On The Global Petrochemical Industry
The Game Has Changed The Influence Of Shale Development On The Global Petrochemical Industry Bill Hyde, Senior Director Olefins and Elastomers Foro Pemex Petroquimica June 7, 2012 Presentation Agenda Outlook
More informationTanker Market Outlook
Tanker Market Outlook 4 th Maritime Indonesia Simon Chattrabhuti, Director, Head of Tanker Market Analysis Jakarta, 22 March 212 Disclaimer THIS PRESENTATION IS CONFIDENTIAL AND IS SOLELY FOR THE USE OF
More informationEnergy Briefing: US Petroleum Products Supplied
Energy Briefing: US Petroleum Products Supplied December 29, 217 Dr. Edward Yardeni 516-972-7683 eyardeni@ Mali Quintana 48-664-1333 aquintana@ Please visit our sites at www. blog. thinking outside the
More informationWeek Letter. Latest on the Oil& Gas market. January the 21th - January the 25th
Week Letter Latest on the Oil& Gas market January the 21th - January the 25th Headlines this week US oil and gas firms are ready to spend as confidence grows Iran Looks To Boost Oil, Gas Production Capacity
More informationCERI Commodity Report Crude Oil
1-Jun-10 1-Jul-10 1-Aug-10 1-Sep-10 1-Oct-10 1-Nov-10 1-Dec-10 1-Jan-11 1-Feb-11 1-Mar-11 1-Apr-11 1-May-11 1-Jun-11 1-Jun-10 1-Jul-10 1-Aug-10 1-Sep-10 1-Oct-10 1-Nov-10 1-Dec-10 1-Jan-11 1-Feb-11 1-Mar-11
More informationFuel Focus. Understanding Gasoline Markets in Canada and Economic Drivers Influencing Prices. Issue 24, Volume 8
Fuel Focus Understanding Gasoline Markets in Canada and Economic Drivers Influencing Prices Issue 24, Volume 8 December, Copies of this publication may be obtained free of charge from: Natural Resources
More informationNorth Dakota Department of Mineral Resources. 600 East Boulevard Ave. - Dept 405 Bismarck, ND (701) (701)
North Dakota Department of Mineral Resources http://www.oilgas.nd.gov http://www.state.nd.us/ndgs 600 East Boulevard Ave. - Dept 405 Bismarck, ND 58505-0840 (701) 328-8020 (701) 328-8000 Wells 14,457 active
More information