Oil Detail

Oil Trades Near Three-Week High on Mideast Protests, Fed Meeting at Bloomberg.

North Dakata Bakken boom continues:  Mark Perry.  Pad drilling and rig mobility lead to more efficient drilling at the EIAEOG Says U.S. Fracking Rule to Cost $1.5 Billion a Year at Bloomberg.

Crude and gasoline inventory:  Bespoke.

“BP PLC said it wants to aggressively clean up buried oil exposed on Louisiana’s beaches by Hurricane Isaac’s churning waves.”  (Fuel Fix).  Researchers say bacteria consumed oil from Macondo oil spill (Fuel Fix).

Chesapeake’s Permian sale was disappointing.  A bit on the Permian basin (AAPG).

3 thoughts on “Oil Detail

  1. Re.: CHK Is it possible 6.9 billion was not enough? “Even $7 billion in asset sales could place Chesapeake’s covenant compliance for its revolving credit facility in some doubt, and the company would still face a significant funding gap in 2013,” wrote Moody’s analyst Peter Speer on May 31.
    Ironically CHK met the 200 dma (resistance), so I think a little patience yet. Paying off 4 billion in debt coming up is healthy. This stock has been coiling for months now and any move would be decent. Yesterday was decent volume-maybe the bears are cleaned out now. I am still cautiously bullish on this stock. Maybe I have blinders on-is any one extremely bearish on CHK now?

  2. Nathan
    Aubrey McClendon is a loose cannon and cannot be trusted. Look at his history and track record. He is now facing legal troubles and so is his company. Stay clear.

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