I am calculating $89 million for the Quarter...compared to $80 mil last Q and $73.9 Q1 2015
Based on $57,500 spot rate estimate by looking at the April Presentation.
Hard to figure what new ships bring in to start.
Just my number...anyone else want to try and guess closer?
After they have been wrong, so many times, seems they would learn something.
I would be embarrassed.
There are reasons to not reverse split.
1)It is looked at as unfavorable
2) It hurts trading volumes
Why do you say there is no reason?
“Nature doesn’t give us a stable, safe climate that we make dangerous. It gives us an ever-changing, dangerous climate that we need to make safe. And the driver behind sturdy buildings, affordable heating and air-conditioning, drought relief, and everything else that keeps us safe from climate is cheap, plentiful, reliable energy, overwhelmingly from fossil fuels.”
Think about it...how many lives does heating and air conditioning save each year?
March was a record month for gasoline consumption.
You can bet that this summer will break records also.
It will be many years until fossil fuels can be replaced.
Apr 22, 2016 3.92 4.02 3.65 3.78----- 3,030,800 3.78
Apr 21, 2016 4.08 4.19 3.80 3.93------4,676,200 3.93
Apr 20, 2016 3.89 4.17 3.66 3.72------ 7,207,600 3.72
Apr 19, 2016 3.32 3.85 3.31 3.82------ 4,921,900 3.82
Big volume increases
Pengrowth Energy Corporation (PGF.TO) (PGH) today announced that it intends to release its first quarter results after the close of equity markets on Tuesday, May 3, 2016.
A conference call and listen only audio webcast will be held, beginning at 6:15 A.M. Mountain Time (MT) on Wednesday, May 4, 2016, during which management will review Pengrowth's results and respond to questions from the analyst community.
See headlines tab for more details for the conference call.
Kuwait City (AFP) - Thousands of Kuwait's oil workers began an open-ended strike on Sunday in protest at plans to cut their wages, action which saw the emirate's crude production plunge.
A spokesman for the Kuwait Oil Co. (KOC), Saad al-Azemi, said on Twitter that "average production reached 1.1 million" barrels in Kuwait on Sunday.
Daily production in OPEC's fourth largest producer is normally around 3.0 million barrels per day.
Azemi also said natural gas production was at 620 million cubic feet, down from Kuwait's daily average of more than 1.3 billion cubic feet.
The strike comes as world oil producers gathered in Qatar aiming to negotiate an output freeze to boost prices.
That is a big drop....doubt the country can stand it for long.
OPEC said global oil production outside the cartel is falling more sharply than expected, as producers continue to retrench almost two years after crude prices started what has been its sharp descent.
The Organization of the Petroleum Exporting Countries, a group of some of the world’s biggest producers, on Wednesday forecast that a long-expected contraction in non-OPEC oil supply was shaping up to be steeper than expected. In March, it forecast non-OPEC output would fall by 700,000 barrels a day this year. It is now estimating that drop will be 730,000 barrels a day.
You can search on the title to see the full article.
Last week's output of 8,977,000 barrels a day is the lowest since October 2014, a month before OPEC stunned the energy world with a new market-based policy that sent prices crashing.
The goal of the Organization of the Petroleum Exporting Countries at the time was clearly to slow the output of high-cost producers — such as the upstart U.S. shale industry .
Now shale's struggles are a gift to producing countries. "They're buying time," said Andrew Lipow, president of Lipow Oil Associates. "It's going to fall off another 300,000 or 400,000 barrels a day by the end of the year."
Lipow, unlike some analysts, expects the producers meeting in Doha, Qatar, to take action to freeze output this weekend. Expectations of a deal have been pushing oil prices higher — up some 60 percent since February. Lipow said the decline in U.S. production also helped support prices Wednesday, even though U.S. inventories continue to rise.
I can't imagine that Saudi Arabia thought all this would take this long and cost them this much money.
They will never recover, as shale producers will always be ready to start producing when prices rise.
Schlumberger to limit Venezuela operations on payment problems
Venezuela: A Burden For U.S. Oil Services?
Their production will be dropping like everyone else without the oil service companies performing their work.
There is a train wreck looming in the future for oil production.