US DoE Crude Oil Inventories (Apr 17) W/W 5315K vs. Exp. 3200K (Prev. 1294K); Crude output reduced by 0.192% to 9.366mln bpd
- US DoE Cushing OK Crude Inventory (Apr 17) W/W 738K vs Exp. 550K (Prev. 1287K)
- US DoE Gasoline Inventories (Apr 17) W/W -2135K vs. Exp. -1000K (Prev. -2072K)
- US DoE Distillate Inventory (Apr 17) W/W 395K vs. Exp. 1100K (Prev. 2017K)
- US DoE Refinery Utilization (Apr 17) W/W -1.1% vs. Exp. 0.5% (Prev. 2.2%)
this is bullish? BSish !
Some rationalize the negative free cash flow as an expansion of capital base that will result in future profits. Over the past 4 years, tight oil negative cash flow increased and has reached a cumulative of more than -$21 billion for the representative companies. Almost half of that negative cash flow took place in 2014.
How long do the losses continue before the cheerleaders of shale plays admit that the enterprise is not profitable?
around Oct 13, 2014- oil was near $80
API data show U.S. crude supply up 5.5 mln barrelsThe American Petroleum Institute late Tuesday reported that crude supplies climbed 5.5 million barrels for the week ended April 17, according to sources. That was more than double the 2.6 million-barrel increase forecast by analysts surveyed by Platts. Sources said the API reported that gasoline stockpiles rose 1.1 million barrels, while distillate inventories climbed 1.7 million barrels. Following the data, June crude was at $56.36 a barrel in electronic trading, down from the $56.61 . The more closely watched Energy Information Administration report is due Wednesday.
Overvalued Oil Stocks, No. 3: Anadarko Petroleum Corp. (NYSE: APC) traded at nearly $95 this week. Again, the last time it was that high oil was at $87. Last year, APC had Q1 earnings of $1.26. This quarter the company is expected to lose $0.59 per share.
Sentiment: Strong Sell
i only see $60 mil cash on bal sheet, some here pumping receivables as cash? dayrates @$30K, cash flow will be neg in 2016-17/S&P says