Anna's Feed
Apr 20, 2015

‘Ducks’ and oil: no need to fear US crude supply deluge

HOUSTON, April 20 (Reuters) – Conventional wisdom holds that
come June a pending $5.3 billion tax break in the No. 2 U.S. oil
producing state, combined with a modest uptick in oil prices,
will unleash a tsunami of new shale crude supply so big that
prices may slump again.

Just one problem with that scenario: oil producers say this
is not going to happen.

Apr 8, 2015

Analysis – Shell’s BG purchase could be catalyst needed for U.S. shale deals

HOUSTON (Reuters) – Royal Dutch Shell Plc’s $70 billion (47 billion pounds) agreement to buy BG Group Plc (BG.L: Quote, Profile, Research) may be just the signal that other dealmakers need to make their own energy takeover bets, particularly in the U.S. shale sector.

Bankers and analysts say that Shell’s move is telling potential acquirers that one of the biggest players is now confident enough to make a big play – that the fears of a further big slide in oil and gas prices may be fading.

Apr 8, 2015

Shell’s BG purchase could be catalyst needed for U.S. shale deals

HOUSTON (Reuters) – Royal Dutch Shell Plc’s $70 billion agreement to buy BG Group Plc (BG.L: Quote, Profile, Research, Stock Buzz) may be just the signal that other dealmakers need to make their own energy takeover bets, particularly in the U.S. shale sector.

Bankers and analysts say that Shell’s move is telling potential acquirers that one of the biggest players is now confident enough to make a big play – that the fears of a further big slide in oil and gas prices may be fading.

Mar 23, 2015

Forget the next movie, now you can crowdfund Texas oil wells

HOUSTON, March 23 (Reuters) – Would be wildcatters and
investors hoping to strike it rich in oil can now turn to
crowdsourcing, a way to raise money more synonymous with
aspiring filmmakers than roustabouts in West Texas.

Equity crowdfunding, or raising capital directly from a
large group of investors, is widely used for projects from
technology to fashion. Now, at least two small Texas firms are
testing the concept in the oil and gas industry.

Mar 18, 2015

U.S. shale oil firms brace for more pain as crude resumes slide

By Anna Driver and Ernest Scheyder

HOUSTON/WILLISTON, N.D. (Reuters) – With the prospect of another plunge in crude prices CLc1LCOc1 looming after two months of stability, U.S. shale oil producers may face another round of spending cuts to conserve cash and survive the downturn.

A deeper retrenchment would have far-reaching effects.

Additional cutbacks would further gut the already-hemorrhaging oilfield services industry and may heighten expectations for a steeper drop in U.S. crude output later this year.

Mar 4, 2015

Exxon may delay spending after 2017 if down market persists

NEW YORK (Reuters) – Exxon Mobil Corp, the world’s largest publicly traded oil company, said on Wednesday its output would rise slowly through 2017 and it may delay some investments thereafter if crude prices stay low.

Oil prices have halved since June, and major oil companies have been trimming budgets for projects to bring expensive and hard-to-find new discoveries online.

Mar 4, 2015

Exxon sees oil and gas output rising slowly through 2017

NEW YORK, March 4 (Reuters) – Exxon Mobil Corp said
on Wednesday its oil and gas output would rise 2 percent this
year and 3 percent in each of the following two years as it
spends about $34 billion in 2015, down from a peak.

In 2014, the world’s largest publicly traded oil company
produced 4 million barrels oil equivalent per day (boed) and it
plans to ramp up to 4.3 million boed in 2017.

Feb 25, 2015

Chesapeake profit falls short; company to slash spending

Feb 25 (Reuters) – Chesapeake Energy Corp on
Wednesday said it would slash its 2015 spending and rig count in
response to low crude oil prices that also pushed its
fourth-quarter profit below Wall Street expectations.

Shares of Chesapeake fell more than 11 percent, hurt by the
earnings miss and a disappointing production outlook, analysts
said.

Feb 23, 2015

Insight: U.S. shale oil’s crash diet likely to bring forward output dip

HOUSTON (Reuters) – Shale oil producers are throttling back so quickly on drilling that U.S. crude output could fall sooner than expected, within months, executives say as they slash costs to cope with tumbling crude prices and compete with Persian Gulf rivals.

About a dozen chief executives who talked to Reuters or who spoke publicly, acknowledged they were taken aback by the scale and speed of the cutbacks, noting how this oil price downturn was different from several previous episodes in their careers.

Feb 23, 2015

US shale oil’s crash diet likely to bring forward output dip

HOUSTON, Feb 23 (Reuters) – Shale oil producers are
throttling back so quickly on drilling that U.S. crude output
could fall sooner than expected, within months, executives say
as they slash costs to cope with tumbling crude prices and
compete with Persian Gulf rivals.

About a dozen chief executives who talked to Reuters or who
spoke publicly, acknowledged they were taken aback by the scale
and speed of the cutbacks, noting how this oil price downturn
was different from several previous episodes in their careers.

    • About Anna

      "I currently cover large U.S. oil and gas companies including Exxon Mobil and ConocoPhillips as part of the equities desk's Raw Materials Team. I am based in Houston, Texas."
    • Follow Anna