The analysts changed their 2015 to 2016 U.S. oilfield cash flow, activity and spending assumptions in calculating the price needed to balance oil markets.
Crude, NGL and gas prices are exected to experience headwinds for the foreseeable future.
The impact on the U.S. energy industry of the worldwide crude oil price drop cannot be denied. But results will vary widely by segment and—in the case of some well-positioned midstream players—may create investor opportunities.
Crude oil prices continue to fall as geopolitical issues impact both the West Texas Intermediate (WTI) and Brent markets. The WTI price fell below $75 per barrel (/bbl), nearing a level that could halt some U.S. unconventional production.
As hydrocarbon prices crash, NGL prices are trying to find their floor value.
Colder temperatures and snowfall drove heating demand and improved gas prices, but NGL prices dropped through mid-November.
The Northeast oil and gas industries have been transformed in a way usually reserved for the movies, but more hard work is necessary to achieve full stardom.
John Hofmeister, formerly of Shell Oil Co., advises riding out the oil price correction and looking to a natural gas changeover in the coming decades at Privcap’s Houston conference.
U.S. producers battling OPEC for market share may increase output further from the highest rate in more than three decades as costs decline almost as fast as oil prices, according to Goldman Sachs Group Inc.
Medallion Pipeline Co. LLC announced the successful close of the binding open season for the Midkiff Lateral and for the capacity expansion of its existing Wolfcamp Connector pipeline.
Key North American Hub Prices: December 17, 2014
Key North American Hub Prices: December 16, 2014
Enterprise Products Partners LP announced the start of a binding open season to seek shipper support for a proposed expansion of the portion of its Panola Pipeline Co. LLC NGL system.
ONEOK Partners LP completed the acquisition of NGL pipelines and related assets from affiliates of Chevron Corp. for approximately $800 million.
Williams Partners LP announced its expanded Geismar plant is in the final stages of commissioning and now expects ethylene production for sale to begin in December.
BP plans to invest more $200 million to upgrade its purified terephthalic acid (PTA) plants at Cooper River, S.C., and Geel, Belgium, the company said in a statement on Nov. 17.
Shell Chemical LP exercised its option to acquire land in Monaca, Pa., which could be used to build a $4 billion world-scale ethane cracker in the heart of the Marcellus Shale, from Horsehead Holding Corp.
Williams Partners LP announced Oct. 29 it expects its expanded Geismar Olefins plant to begin manufacturing ethylene for sale in November. That time line is consistent with the financial guidance the partnership provided in July.