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A few things...
Cool model of that giant Sakhalin Island rig a few pages ago
7 slides from Schlumberger's CEO
E&P Spending Down 10-15% This Year, North America Recovery Will Be Late & Shallow
NAM Oil Supply Capacity Growing, Rest Of World Flat
We Are Not In A Real Global Overcapacity Situation
The Global Oil Market Is Heading For A Tightening, Brent Prices Could Increase In 2H15
The Industry's Challenges Are Structural In Nature
Reducing Cost Per Barrel Has Become The Key Priority In O&G
New Well Drilling Set To Grow In Lower Drilling-Intensity Markets
Two more quotes from T. Boone:
Estimates are that Iran has somwhere between 7 million and 35 million barrels of oil stockpiled ready to dump on the market if sanctions are lifted.
"US government officials told Bloomberg that it would take three to six months following an end-of-June deadline on a final deal for the Iranian oil to hit the global market. The talks this week center on reaching an agreement on a framework for the deal by the end of March. "
And a trajectory of Al's shitliner headed to port
Cool model of that giant Sakhalin Island rig a few pages ago
7 slides from Schlumberger's CEO
E&P Spending Down 10-15% This Year, North America Recovery Will Be Late & Shallow
NAM Oil Supply Capacity Growing, Rest Of World Flat
We Are Not In A Real Global Overcapacity Situation
The Global Oil Market Is Heading For A Tightening, Brent Prices Could Increase In 2H15
The Industry's Challenges Are Structural In Nature
Reducing Cost Per Barrel Has Become The Key Priority In O&G
New Well Drilling Set To Grow In Lower Drilling-Intensity Markets
Two more quotes from T. Boone:
"I think you could very well be at $100 a barrel by the end of 2016"
"The Republicans will win in 2016,"
Estimates are that Iran has somwhere between 7 million and 35 million barrels of oil stockpiled ready to dump on the market if sanctions are lifted.
North America continues to put a million barrels a day of 'excess' oil into storage. Iran may add, abruptly, an additional 0.8 million barrels of additional oil into the system. If prices are struggling with the North American "excess", what will prices do when the system tries to accommodate an added quantity of a similar magnitude?
The perspective that I visualize is similar to the panic that ensues when I see the commode overflowing.
- William Edwards, President at Edwards Energy Consultants
The perspective that I visualize is similar to the panic that ensues when I see the commode overflowing.
- William Edwards, President at Edwards Energy Consultants
And a trajectory of Al's shitliner headed to port
Bloomberg Intelligence analyzed 10 years of maintenance-season data and found that if 2015 follows an average year of refinery maintenance, the current glut should never be more than a nuisance. But if 2015 matches up with the worst period in a decade, there will be trouble in the two biggest storage regions: Cushing, Oklahoma, and the U.S. Gulf Coast.
Worth noting: the analysis above assumes oil production is unchanged. So far, that hasn't been the case. Despite all of the pressures on U.S. oil, production continues to increase unchecked. And the storage tanks keep filling.
Worth noting: the analysis above assumes oil production is unchanged. So far, that hasn't been the case. Despite all of the pressures on U.S. oil, production continues to increase unchecked. And the storage tanks keep filling.
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