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Post Info TOPIC: Oil, and gas news...
Uke


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Oil, and gas news...
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So rig count is below a year earlier. Why drill when prices won't support active exploration? And 'miscellaneous,' what's that all about anyway?

Number of active oil rigs falls by 12
June 05, 2009 2:17 PM EDT

HOUSTON - The number of rigs actively exploring for oil and natural gas in the United States fell by 12 this week to 887, down roughly 1,000 from a year ago.

Of the rigs running nationwide, 700 were exploring for natural gas and 179 for oil, Houston-based Baker Hughes Inc. reported Friday. Eight were listed as miscellaneous.

A year ago, the rig count stood at 1,886. The U.S. count is down 56 percent since the end of August as weak energy demand has hampered oilfield activity.

Oil prices peaked at almost $150 a barrel in July before plunging. They've been on the rise of late. Benchmark crude for July delivery rose 2 cents to $68.83 in trading Friday on the New York Mercantile Exchange after climbing above $70 a barrel earlier, the highest price since October.

Of the major oil- and gas-producing states, Louisiana lost 11 rigs, Texas lost three, North Dakota lost two and New Mexico and Wyoming each lost one. Arkansas added two, California and Colorado each added one and Alaska and Oklahoma were unchanged.

Baker Hughes has tracked rig counts since 1944. The tally peaked at 4,530 in 1981, during the height of the oil boom. The industry posted several record lows in 1999, bottoming out at 488.

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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Hmmm, then why is the price of gas rising so dramatically here?

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BlackDog wrote:

Hmmm, then why is the price of gas rising so dramatically here?




Because they gamble that the lucky people that have jobs will
still pay what it costs to travel and the unfortunate unemployed 
will be staying  close to home if they still have one ?
Pumping us at the pumps here, too.

 



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Ain't that a shame...

Uke


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Same here Blackie. While it's been proven that people are taking fewer long trips, and consuming less at the pump, prices have risen at least a buck in the past three months.

Summer driving season? Perhaps. But who knows for sure...

The API [American Petroleum Institute] reports prices per bbl. have declined because of lower demand [?] and higher supplies of unrefined crude stored.

How 'bout dat?


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Uke


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Factoids. From API. Just in case...

http://www.api.org/


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Uke


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More. And IF ya dig deeper...you'll find even more. I'm tryin' ta drive as little as possible. But I'm an addict...

http://www.oilnergy.com/


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The Forum Celestial Advisor

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I have enough gas.



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Uke


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Holy shit! Oil prices per barrel just hit a record at $60.30 per barrel! But prices at the pump haven't shown much upward movement.

At the end of the year, that's the biggest surprise of all!



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Force Majeure

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Astrobuck10 wrote:
BlackDog wrote:

Hmmm, then why is the price of gas rising so dramatically here?



Because they gamble that the lucky people that have jobs will
still pay what it costs to travel and the unfortunate unemployed 
will be staying  close to home if they still have one ?
Pumping us at the pumps here, too.

 


 Quoted jusr because.



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The Forum Celestial Advisor

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I need a "memory jog" on Astrobuck10. Last posted 8 yrs ago.

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Force Majeure

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The Krink wrote:

I need a "memory jog" on Astrobuck10. Last posted 8 yrs ago.


 He been on the wagon since.

 



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Uke


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The latest: Uke owns five of the stocks listed in a Roth IRA, and a regular stock account.

You don't hafta be rich to own stocks. Just open an account, then buy a few shares of a stock you know about.

r

philipVanDoorn_100.png

By

Philipvan Doorn

Investing columnist

Oil companies, buoyed by the rising price of crude oil, are set for major profit recoveries over the next two years, which means patient investors could finally make money again in the once-beleaguered sector.

The stalling of the oil rally last year sent energy stocks reeling, but what many investors may not realize is that most of the biggest energy companies swung to profits.

Looking ahead, we have put together a list of those expected by analysts to show double-digit increases in earnings for 2018 and 2019.

This chart tells the 2017 tale of woe for investors who were looking to make a quick gain on the rising tide of oil:

MW-GB379_oiland_20180109090802_NS.png?uuFactSet

If we confine ourselves to 2017, the market showed no faith in oil companies, even though West Texas intermediate crude oil CL1, +0.50%  (WTI) eventually rallied to produce a 12.5% gain for the year. Despite that significant increase for the commodity on which its success is based, the S&P 500 energy sector was down 3.9%, while the broader S&P 500 Index SPX, +0.13%  rose 19.4%.

Of 32 companies in the S&P 500 energy sector, 24 posted negative earnings per share for 2016, while one company broke even and only seven booked profits. With three quarters of 2017 earnings data available, analysts polled by FactSet expect 19 of the 25 companies that were unprofitable in 2016 to post for all of 2017.

So theres plenty of good news. The average price of WTI during 2017 was $50.80, and 26 of the 32 S&P 500 energy companies are expected to show profits for the year.

With WTI trading around $62, it may come as a surprise to see that the mean 2018 price target for analysts is $57.40, while the 2019 target is $59.87. Then again, analysts have a way of trailing a volatile market. But even with those price estimates, analysts expect vast improvements in earnings for the industry in 2018 and 2019.

So analysts expect a steady recovery in earnings, even if oil prices dont rise over the next two years. And investors have become more enthusiastic. The S&P 500 energy sector is up 4.5% for 2018 through Jan. 8, second only to the information-technology sector, which is up 4.6%. The broader index is up 2.8%.

For profitable oil companies, price-to-earnings ratios are still high, because industry earnings have been depressed. So if you expect oil prices to remain stable, or to go up over the next few years, your best way to play the rising tide may be to consider stocks of companies that are expected to show the largest increases in earnings.

Here are all 32 S&P 500 energy companies, with estimated EPS for 2017, 2018 and 2019, sorted by how much analysts expect their 2018 EPS to increase:

NameTickerConsensus EPS estimate - 2017Consensus EPS estimate - 2018Consensus EPS estimate - 2019Expected EPS increase - 2018Expected EPS increase - 2019
Noble Energy Inc.NBL, -1.29%-$0.01$0.19$0.57N/A200%
National Oilwell Varco Inc.NOV, -1.21%-$0.42$0.31$1.08N/A253%
Apache Corp.APA, +0.61%$0.12$0.86$0.90614%4%
ConocoPhillipsCOP, +0.82%$0.59$1.87$2.37217%27%
Baker Hughes, a GE Co., Class ABHGE, +1.51%$0.36$1.08$1.73196%61%
EOG Resources Inc.EOG, -0.89%$0.87$2.20$3.35152%52%
EQT Corp.EQT, -0.05%$0.92$2.16$3.18135%48%
Pioneer Natural Resources Co.PXD, -0.32%$1.68$3.62$5.39115%49%
Occidental Petroleum Corp.OXY, -0.40%$0.84$1.78$2.12112%19%
Halliburton Co.HAL, -0.34%$1.17$2.16$2.8985%33%
Cabot Oil & Gas Corp.COG, +0.73%$0.52$0.96$1.3785%43%
Schlumberger NVSLB, +0.13%$1.46$2.20$3.0850%40%
Phillips 66PSX, -0.33%$4.45$6.68$7.2950%9%
Range Resources Corp.RRC, +0.23%$0.52$0.73$1.0241%40%
Cimarex Energy Co.XEC, -0.49%$4.50$6.19$7.8238%26%
Devon Energy Corp.DVN, -1.64%$1.81$2.46$2.9136%18%
Concho Resources Inc.CXO, -0.67%$1.90$2.57$3.8036%47%
Valero Energy Corp.VLO, -0.13%$4.93$6.69$7.2336%8%
AndeavorANDV, +0.04%$6.88$9.18$10.5433%15%
Chevron Corp.CVX, -0.54%$4.21$5.59$6.1433%10%
Newfield Exploration Co.NFX, -0.80%$2.13$2.80$3.7332%34%
Williams Cos.WMB, +0.46%$0.72$0.91$1.0227%11%
ONEOK Inc.OKE, -0.26%$1.74$2.21$2.4127%9%
Marathon Petroleum Corp.MPC, -0.56%$3.84$4.63$4.9821%7%
Exxon Mobil Corp.XOM, -0.42%$3.65$4.30$4.5218%5%
Chesapeake Energy Corp.CH, -1.38%$0.72$0.79$0.9110%15%
Kinder Morgan Inc., Class PKMI, +0.42%$0.64$0.70$0.778%11%
TechnipFMC PlcFTI, -1.25%$1.42$1.30$1.50-8%15%
Anadarko Petroleum Corp.APC, +0.23%-$2.22-$0.25$0.43N/AN/A
Helmerich & Payne Inc.HP, -0.53%-$1.27-$0.39$0.16N/AN/A
Hess Corp.HES, +0.55%-$4.47-$3.04-$2.09N/AN/A
Marathon Oil Corp.MRO, +0.33%-$0.37-$0.03$0.07N/AN/A
Source: FactSet

You can click the tickers for price ratios, as well as news coverage, financials and filings. Were only looking at one data point here earnings growth so its best to do your own research and consider a companys condition and strategy to form your own opinion about whether its worth a long-term commitment as an investment.



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Uke


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Holy shi...crap! Oil prices are on the rise again. Could prices at the pump be far behind? Care ta venture a guess...

On the New York Mercantile Exchange, May West Texas Intermediate crude CLK8, +3.67%  tacked on $2.09, or 3.3%, to settle at $65.51 a barrel. The settlement was the highest since March 26, according to FactSet data.

This is the 'benchmark' for US crude when it is shipped to refiners, by pipeline, rail, or truck.

Uke ove it! Are ya ready for $4/gallon again? Maybe by the 'summer driving season' again!.

Crude prices at the end of last week closed down roughly 2%, capping their worst week in two months, as the U.S. threatened new tariffs on Chinese imports and Beijing responded in kind. But prices began to retrace losses Monday afternoon after American and Chinese officials moved to soften their rhetoric over the trade spat.



-- Edited by Uke on Tuesday 10th of April 2018 01:31:16 PM

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Force Majeure

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I'm guessing you haven't bought gas lately.

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Uke


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This morning. Remains just below $3/per. Filled @ 12.7 gal. @ $2.89/per. Shell at  Safeway Supermarket.



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