Just curious on your thoughts on how the bond deal will help smaller companies operating in Argentina in need of financing
If the large increase in imports over this time last year was removed USA petroleum products in inventory would have fallen by over 12 million barrels over the last month.
That is the best indication I can find of what is happening in the US for production vs demand
Refinery input was up by 414,000 bbl per day yet gas and distillate inventory fell by 3.6 million bbl for the week. Total inventory was up but remains totally attributed to the large increase in imports over last year
The question now is do I sell off TPLM Monday or keep and hope they can ride it out. I really do believe a big bump in price of oil is coming. That said i Don't believe it can get much above $65 or $70 as Shale boys will ramp up production quickly.
Rockpile could be a real cash cow when the market turns but right now I think they have serious debt issues.
Caliber. This should be combined with Whitings pipeline and process co and spun off. the 2 companies assets compliment each other. With TPLM not completing any wells flow rates on the pipeline have to be hurting
TPLM. Triangle quit drilling and completing wells back in July of 2015. Depletion has to be kicking in big time BUT they have 16 to 18 drilled but uncompleted wells. A nice bump in Oil and cash can roll in quickly
From oil price web site today. Why we could see an oil price shock in 2016. Now consider if the 800,000 barrels of over reported production is real.
"Rystad Energy estimates that the crash in oil prices has cut into upstream investment so severely that natural depletion rates will overwhelm the paltry new sources of supply in 2016. Existing fields will lose about 3.3 million barrels per day (mb/d) in production this year, while new fields brought online will only add 3 mb/d. This does not take into account rising oil demand, which will soak up most of the excess supply by the end of the year.
But the 3 mb/d of new supply in 2016 will mostly come from large offshore projects that were planned years ago, investments that were made before oil prices started crashing. The EIA sees four offshore projects starting up in 2016 – projects from Shell, Noble Energy, Anadarko, and Freeport McMoran – plus two more in 2017. The industry completed eight projects in the Gulf in 2015. U.S. Gulf of Mexico production will climb from 1.63 mb/d in 2016 to 1.91 mb/d by the end of 2017."
Good points, particularly on the financing. thanks
I do agree with the comments on Mr Mark. Makes it sound like the company is in trouble and of course I do not believe they are.
Maybe getting someone to look at these PRs wouldn't hurt
I agree on the CEO, what concerned me was going on and on about the new guy and his specialty of working on restructuring and turnarounds of distressed companies. Are you saying that Madalena is a distressed company. I don't put them in that category but the news release certainly implies it
EIA says 800,000 bbl of the worlds daily production is unaccounted for or in other words missing. To understand this know that the EIA numbers are in the end estimates based on past performance. If production is truly 800,000 bbl less then how big is the oversupply and how soon will prices turn.
I think the 800,000 number is high but the EIA production numbers are in my opinion seriously wrong.
I would point to the USA oil imports. Last week US imports were 1.2 million bbl per day above the 2015 four week running average. Think about that. Imports are badly distorting the USA oil storage issue and show how quickly those numbers can turn around. Why are we importing all that oil? Its cheap and the buyers know the price is going to turn up and likely sooner than expect. And guess what, they can now export that oil in storage
Anyone else see the EIA announcement on the missing barrels, Thoughts?
I am of the opinion that the over supply situation is being greatly manipulated. In addition to the missing barrels take a hard look at the US oil imports. Last week we import 1.2 million bbl per day over the 2015 4 week running average. If the world is in such massive oversupply why the huge imports.
To me the answer is simple. The traders know the price will be moving up soon and are loading up with cheap oil. Smells of manipulation
Just two months ago, the International Energy Agency warned that the global oil market could “drown in oversupply.” But according to a Wall Street Journal report, a large portion of the problematic oversupply that is worrying traders and potentially holding down oil prices is also nowhere to be found.
The IEA was unable to account for 800,000 barrels of crude per day last year—the highest level of missing crude in 17 years.
The tone of the announcement makes it sound like company is in deep trouble. Sure would be nice to get a little added color on the changes
With big drop in refined gasoline total petro products in inventory up 6.9 million bbl last week. Take away the big increase in imports and inventory was down. These numbers need a hard look to see what is really up