Archive for the ‘Uncategorized’ Category

The price-cost squeeze, and the impact on energy cash flow

The latest from Steven Kopits of Princeton Energy Advisors, who posts here from time to time. Steven is the Managing Director of Princeton Energy Advisors.  He is currently writing a book on supply-constrained oil markets analysis and can be reached at steven.kopits@prienga.com

From late 2011, my presentations posed a simple question: “What if E&P costs continue to rise, and oil prices don’t?”

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Cairn-Vedanta stuck in Indian bureaucratic impasse

No one in India seems to want to be the one to make a decision on the $9 billion Cairn-Vedanta deal.

Eight months after Cairn Energy announced its intention to sell its stake in Cairn India to Vedanta Resources, the fate of the deal still hangs in balance.

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Some fence mending may be needed in the West Virginia natural gas fields

The natural gas industry in West Virginia was rocked March when 20 members of the 100-member West Virginia House of Delegates asked Governor Earl Ray Tomblin to impose a moratorium on new Marcellus Shale drilling permits.

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Shell Australia upbeat on Prelude LNG; focus now turns to Timor

The mood was buoyant among the 120 or so Shell employees and external stakeholders who gathered Sunday in the company’s hospitality suite to watch the Australian Formula 1 Grand Prix in Melbourne, despite the fact that both drivers from the oil giant’s sponsored team, Ferrari, failed to make the podium.

The source of the excitement? Certainly not the prospects for Shell’s two Australian oil refineries at Clyde and Geelong, whose long-term future in the highly competitive Asia Pacific refining sector is generally conceded to be bleak.

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With ICE not talking, CME points Boca spotlight to WTI crude

The really big fireworks show expected to kick off this week’s Futures Industry Association conference fizzled quickly Tuesday when Jeff Sprecher, CEO and president of IntercontinentalExchange, turned down repeated requests to comment on reports that ICE was teaming with Nasdaq OMX Group in a hostile bid for NYSE Euronext.

“I’m not commenting on anything,” Sprecher said Tuesday on the sidelines of the conference in Boca Raton, Florida, a theme Sprecher seemed to repeat to several reporters throughout the day.

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What’s going on with the Japanese nuclear reactors: a primer

Platts nuclear group, led by Tom Harrison and William Freebairn, published a story early Monday Japan time on just what is and might be happening with the damaged nuclear reactors in Japan. We are publishing it for Barrel readers below.

 

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US oil rig count still on the up-and-up … and appears headed up more

Oil rigs are at it again.

According to the latest Baker Hughes rig count March 11, oil-directed rigs broke another record this past week, with more of them working in the US than at any time in the previous nearly 24 years.

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Trying to find an explanation for the oil price volatility

When I started my career as a journalist a quarter century ago, mainstream news was the glamour child. It was where you unearthed stories that people read, the scoops, the articles that won you awards. The business pages were dry, unattractive, and the finance desk was where geeks got a job.

But today, in the aftermath of the Great Recession, business and financial news is mainstream.

For journalists covering oil, it’s been enhanced by the up-and-down price of crude (though it’s all been up most recently). And this has brought the researchers, the analysts, the data watchers and number crunchers into the limelight. For everyone wants to know: what the heck is going on?

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Some things to watch for in the deepwater US Gulf permit lineup

The US oil industry breathed a collective sigh of almost palpable relief earlier this week when the federal Bureau of Ocean Energy Management, Regulation and Enforcement green-lighted the first deepwater drilling permit since two back-to-back moratoria hit the Gulf of Mexico last May.

Noble Energy and three partners were the lucky recipients of the BOEM’s stamp of approval on a well at the independent E&P company’s Santiago prospect, at Mississippi Canyon Block 519 in 6,500 feet of water. That is about 20 miles south of BP-operated Macondo, the well whose blowout last April 20 has complicated permitting for deepwater drilling ever since.

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Gasoline prices in the US: rather odd reactions

Two quick observations about gasoline demand in the US, one scientific, the others completely antecdotal:

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