Macro/Headlines/Events BKR U.S. Land Rig Count: Declined 10 rigs this week with rig count now below 700 rigs for the first time since May 2022. Stepping back and looking at the decline relative to the Q4 peak, the biggest percentage decline has occurred…
Macro/Headlines/Events Baker Hughes U.S. onshore rig count was down 18 last week to 707 rigs. FT- Oneok to buy Magellan Midstream in $19bn US pipeline deal – Link WSJ-Turkey’s Election: What Does it Mean for Oil Prices? Link WSJ- Rusty Old Oil…
Macro/Headlines/Events BKR U.S. Land Rig Count: Down 8 rigs w/w to 725 rigs. WSJ- Big Oil Has $150 Billion in Cash and Investors Want a Share Link FT-Falling crude prices and recession fears bring US oil and gas rally to…
Macro/Headlines/Events Exciting Monday as OPEC surprises the energy world with 1MM BBL/day cut to production and a nice size M&A transaction in the market. BB- Ovintiv to Buy EnCap Permian Oil and Gas Assets for $4.3B ($3.1B cash and 32.6MM shares) Deal…
DEP Update: Grab a coffee as this evening’s note is a tad long, a function of all the market noise this past week. We kick off with the 30,000-foot macro view and then look at things from a micro-perspective. The blend of the two,…
Macro/Headlines/Events BKR U.S. Onshore Rig Count +3 rigs w/w to 739 rigs. WSJ-How Options-Hedging Turbocharged Oil Volatility- Link WSJ- The House GOP Moves on Energy Link FT- Italy’s shift away from Russian gas clashes with its climate targets- Link Bloomberg- Energy Transfer…
Macro/Headlines/Events Baker Hughes Rig Count- The U.S. onshore rig count was down 1 rig w/w to 731. WSJ- Clean and Cheap Oil Is a Heavy Lift- Link FT- The rare earths race entails difficult choices- Link WSJ- Biden Declares U.S. Arctic Ocean…
Macro/Headlines/Events Baker Hughes Rig Count down 2 rigs w/w to 734. February was down 22 rigs month/month. Source: DEP/Baker Hughes WSJ- Energy Industry Wrestles Over Going Green Too Fast- Link WSJ- How Gas From Texas Becomes Cooking Fuel in…
Macro/Headlines/Events Baker Hughes Rig Count- The US onshore rig count was down 7 rigs from 741 to 734 last Friday. At our Thrive Energy Conference last week, most panelist took the under on the US onshore rig count being 800 by the end…