---
title: "More Energy"
url: https://independentstockanalysis.com/more-energy/
description: "Oil Rebounds as Norway Strike Looms at Bloomberg . Statoil Prepares to Shut Down Production As Strike Continues at the WSJ . “Problem is, the rebound last…"
published: 2012-07-09
updated: 2012-07-09
---

# More Energy

Published 2012-07-09

Posted on

by

J.J. Butler

Oil Rebounds as Norway Strike Looms at [Bloomberg](http://www.bloomberg.com/news/2012-07-09/oil-rebounds-as-norway-strike-looms.html). Statoil Prepares to Shut Down Production As Strike Continues at the [WSJ](http://online.wsj.com/article/BT-CO-20120709-703493.html?mod=WSJ_Energy_middleHeadlines).

“Problem is, the rebound last year was fuelled at least in part by an average deficit of 800,000 barrels a day for the year as a whole. This year, that has reversed with an average surplus of 1.9 million barrels a day during the first five months of the year.” At least shoulder season is over. [Financial Post](http://business.financialpost.com/2012/07/06/if-youre-hoping-for-oil-to-bounce-back-like-last-year-dont-hold-your-breath/)

Opec’s gift to oil sands producers: high oil prices also at the [Financial Post](http://business.financialpost.com/2012/07/06/opecs-gift-high-oil-prices-2/). Gulf OPEC States Oppose Prices Meeting at the [WSJ](http://online.wsj.com/article/SB10001424052702303567704577514240066352670.html?mod=WSJ_World_LEFTSecondNews).

Raymond James Energy Stat of the Week addresses NGL’s: [Raymond James](http://www.raymondjames.com/Branches/c2c/7ho/Whittakercooper/resource.asp?page=energy_stat.htm). The rig count from [Haynesville Play](http://www.haynesvilleplay.com/2012/07/us-rig-count-6-to-1965.html).

The [EIA](http://205.254.135.7/forecasts/aeo/chapter_executive_summary.cfm#economicgrowth) is wildly underestimating horizontal drilling:

The oil price will determine the pace of development, but looks like a million barrels in the Bakken by 2015: [Prairie Business](http://www.prairiebizmag.com/event/article/id/12796/) Certainly the Eagle Ford production will higher than the Bakken under every oil price scenario with 60 more rigs running on more productive land commanding premium pricing ([Gonzales Cannon](http://www.gonzalescannon.com/node/10127)). Plains just announced quarter over quarter oil production up 17%, no doubt driven by the Eagle Ford ([Yahoo](http://finance.yahoo.com/news/pxp-provides-second-quarter-operational-105800866.html)). With the weather cooperating and the industry backlog under control, growth with be a big theme as the E&P’s announce second quarter results. Utica, Mississippi lime, and the smorgasbord of wolf/dog/bone Permian plays? Anyone?

Bakken down-spacing at [Ryder Scott](http://www.ryderscott.com/Newsletters/612nsltr.pdf) with a hat tip to [Million Dollar Way](http://www.milliondollarwayblog.com/). I do not follow Triangle Petroleum in the Bakken: [AMP 2012](http://amp2012.com/2012/07/06/triangle-petroleum-rising-bakken-star-target-11/).

Pick you stocks, and countries, carefully. Why Brazilian Oil Struggles to Catch Fire at the [WSJ](http://online.wsj.com/article/SB10001424052702303684004577510961395608768.html).