Pinpointing the Well Spacing Sweet Spot in the Karnes Trough
Well spacing in the Eagle Ford Basin is tighter today than ever, with some wells in the Karnes Trough being drilled less than a football field apart. How did we get here? More importantly, what are the best options available to maximize production as spacing decreases? After a decade of downspacing across Eagle Ford, historical […]
Draw Smaller Than Expected, Prices Drop
[contextly_auto_sidebar] Natural gas storage inventories decreased 201 Bcf for the week ending January 24, according to the EIA’s weekly report. This was less than the expected draw of 204 Bcf. Working gas storage inventories now sit at 2.746 Tcf, which is 524 Bcf above inventories from the same time last year and 193 Bcf above […]
China Agrees to Buy $52.4B More U.S. Energy, but How is Fuzzy
China committed to buy an additional $52.4 billion in U.S. energy over the next two years under a Phase 1 trade deal signed Jan. 15. While the agreement suggests the end of a trade war that lasted more than a year, many analysts are skeptical whether China could meet that commitment. China bought $9.1 billion […]
Larger Than Expected Crude Inventory Build Keeps The Pressure on Prices
[contextly_auto_sidebar] US crude oil stocks posted an increase of 3.5 MMBbl. Gasoline inventories increased 1.2 MMBbl and distillate inventories decreased 1.3 MMBbl. Yesterday afternoon, API reported a crude oil build of 4.3 MMBbl alongside a gasoline build of 3.3 MMBbl and a distillate draw of 0.14 MMBbl. Analysts were expecting a smaller crude oil build […]
Prices Down Further as The Market Spooked on Virus Fear
[contextly_auto_sidebar] US crude oil stocks posted a decrease of 0.4 MMBbl. Gasoline inventories increased 1.7 MMBbl and distillate inventories decreased 1.2 MMBbl. Yesterday afternoon, API reported a crude oil build of 1.6 MMBbl alongside gasoline and distillate builds of 4.5 MMBbl and 3.5 MMBbl, respectively. Analysts, to the contrary, were expecting a crude oil draw […]
Natural Gas Draw In Line With Expectations
Natural gas storage inventories decreased 92 Bcf for the week ending January 17, according to the EIA’s weekly report. This was slightly larger than the expected draw of 91 Bcf. Working gas storage inventories now sit at 2.947 Tcf, which is 554 Bcf above inventories from the same time last year and 251 Bcf above […]
Prices Rise as Draw Surpasses Expectation
[contextly_auto_sidebar] Natural gas storage inventories decreased 109 Bcf for the week ending January 10, according to the EIA’s weekly report. This was larger than expected, which was a draw of 94 Bcf. Working gas storage inventories now sit at 3.039 Tcf, which is 494 Bcf above inventories from the same time last year and 149 […]
Prices Down as Tensions Dissipate with Iran
[contextly_auto_sidebar] US crude oil stocks posted a decrease of 2.5 MMBbl. Gasoline and distillate inventories increased 6.7 MMBbl and 8.2 MMBbl, respectively. Yesterday afternoon, API reported a crude oil build of 1.1 MMBbl alongside gasoline and distillate builds of 3.2 MMBbl and 6.8 MMBbl, respectively. Analysts, to the contrary, were expecting a crude oil draw […]
Iran, Knots, and Super Cold Reactions
On Jan. 2, the United States ended, forever, Qassem Soleimani’s tenure as the director of Iran’s Quds Force. As of Monday, Jan. 6, oil prices have gained about 3% as traders attempt to sort out how increased tensions in the Middle East will affect Brent and WTI prices. It’s worthwhile to look at recent oil […]
DRAW BELOW EXPECTATION, PRICES STEADY
Natural gas storage inventories decreased 44 Bcf for the week ending January 3, according to the EIA’s weekly report. This was below the market expectation, which was a draw of 52 Bcf. Working gas storage inventories now sit at 3.148 Tcf, which is 521 Bcf above inventories from the same time last year and 74 […]