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.
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.
It’s beginning to sound like a song stuck on repeat, but natural gas and NGL prices continued to tumble the week of Dec. 10 as they followed the downward trajectory of crude oil prices.
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.
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.
Key North American Hub Prices: December 18, 2014
Americans continue to use more natural gas as the nation’s unconventional shale plays provide a larger share of domestic gas needs.
Keyera Corp. agreed to participate as a 60% owner in the Zeta Creek gas plant being built by Velvet Energy in the West Pembina area of Alberta, the company said in a statement.
Meritage Midstream Services II LLC announced that operations on the first 108-mile leg of the Thunder Creek NGL Pipeline will begin in January 2015.
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.
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.