FROM THE OIL PATCH
Exxon faces $800MM earnings hit from Texas freeze
Exxon Mobil expects first-quarter earnings to be reduced by as much as $800 million due to the deep freeze that plunged Texas into darkness last month. Even so, the oil giant probably returned to profit after four straight losses. Rebounding oil and natural gas prices increased earnings by as much
U.S. operators working down DUC backlog
The drilled-but-uncompleted well count, which documents questionable capital expenditures by U.S. shale companies, was essentially unchanged during the last year.
Industry Group Says Biden’s Infrastructure Plan Misses Opportunity for Pipelines
U.S. President Joe Biden plans to pay for his $2 trillion infrastructure plan with higher corporate taxes, which is facing
Germany’s Greens Vow to Abolish Russian Gas Pipeline After Election
Germany’s Greens have enshrined in their election program plans to abolish the contested Nord Stream 2 pipeline to ship Russian gas to Europe’s biggest economy, creating a hurdle to a potential alliance with the conservatives. Chancellor Angela Merkel’s conservatives, who have backed the Nord Stream 2 pipeline opposed by the
The Shale Party Is Just Getting Started
The shale industry is making it rain for investors, generating record free-cash-flow (FCF) on the back of pandemic-related cost-cutting and rising oil prices. And the party is just getting started. Oil prices are expected to continue to rise as the year progresses, and the global economy recovers with Covid-19 vaccinations
Global drilling activity set for two consecutive years of growth
After a challenging 2020, oil and gas demand recovery—supported by COVID-19 vaccination efforts and OPEC+ supply cuts—is proving good for drilling activity. Rystad Energy expects around 54,000 wells to be drilled worldwide in 2021, a 12% increase from 2020 levels. In 2022 drilling is set to increase even more, by
CRUDE OIL WEEKLY UPDATE (Week Ending 04-09-21)
Crude Oil Summary (EIA): U.S. crude oil refinery inputs averaged 15.0 million barrels per day during the week ending April 2, 2021 which was 103,000
NATURAL GAS WEEKLY UPDATE (Week Ending 04-09-21)
In the News (EIA): EIA forecasts that U.S. natural gas consumption will decline through 2022: U.S. natural gas consumption, after having reached an annual average
Zekelman Industries Steel Snapshot for March 2021
(by Mike Mechley, Executive VP of Strategic Procurement, www.ZekelmanIndustries.com) Platts March HR Coil is $1,243, up $53 from Feb. Lost production in the south due
Preston Pipe Report – March 2021
(by Paul Vivian and Rick Preckel, www.prestonpipe.com) Market Monitor <= 16” Diameter – In the OCTG section we noted that domestic HRB prices were increasing
Pipe Logix Line Pipe Report – March 2021
(by Kurt Minnich, www.pipe-logix.com) Line pipe prices increased nearly 6% in March with strong gains in ERW pricing. Domestic ERW prices were up 8.7% and
AISI – Press Release on Latest U.S. Imports of Steel Products – April 2021
(American Iron and Steel Institute, www.steel.org – April 7, 2021) Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the
NASPD Summer Conference
The Westin Denver Downtown Hotel
Denver, Colorado
NAPCA Summer Workshop
Houston, Texas
OCTG & LINE PIPE FORECASTING SUMMIT 2021
Hyatt Regency Houston
NAPCA Annual Convention
JW Marriott Hill Country Resort
San Antonio, Texas
