Oil & Gas

Energy investors have one final straw to possibly grasp:  Brent oil spent the previous fourteen months over $100; the 200 day moving average is $112.  Brent now having a $91 handle wouldn’t feel so good.  Perhaps the Saudi’s will cut production.  Meanwhile, US producers are suffering with a WTI price which dipped under $80 last night.  So if mid-continent realizations might be around $70, IRR’s are skinny and capex budgets are underfunded.  Natty will be depressed until injection season ends with the onset of next winter.  Incredibly, Ecana just increased 2012 capex for ‘liquids’:  Globe and Mail.

I do not expect the Iran sactions to mean squat.  Bloomberg

Oil Boom: North Dakota is the Next Hub of U.S. EnergyPopular Mechanics.  (I apologize for forgetting to whom I owe a hat tip for this one.)

Booming US production, you ask?  Did you know the Eagle Ford rig count is about 60 higher than the Bakken?  Eagle Ford Shale

On the one hand, given the opportunity, US gassers would kill LNG pricing in short order.  Yet Apache’s LNG Kitmat was just pushed back a year to get the marriage right:  Financial Post.  However, every commodity for which China becomes a large importer has seen a new higher price deck.  Perhaps natural gas is next at Oil Price.  Additionally, Statoil: Natural Gas to be Fuel of the Future at Rigzone.

Calling this ‘reseach’ on Chevron is a generous term, but perhaps worth a skim:  Turnkey Analysis.

Jaw-Dropping Panoramic Photos Of America’s Early Oil BoomBusiness Insider.

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