FROM THE OIL PATCH

Exxon faces 0MM earnings hit from Texas freeze
HEADLINES OF INTEREST

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

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Germany’s Greens Vow to Abolish Russian Gas Pipeline After Election

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

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The Shale Party Is Just Getting Started

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

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Global drilling activity set for two consecutive years of growth

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

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WEEKLY UPDATE
ANALISIS & INSIGHTS

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

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