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Oil Drilling Slowdown: Texas Oil Drilling Permits Fall 50% In One Month
- Texas drilling permits declined substantially in November.
- Drilling permit declines should lead to drilling activity declines.
- Drilling activity declines should lead to less oil production growth.
- This is bullish for the price of oil.
The Rising Marginal Cost Of Oil Production Highlighted By Kashagan Expense Escalation
- Kashagan pipes leaking, will cost an additional $3.6 billion to fix.
- The latest in a series of delays and expense escalations in the $50 billion oil project.
- Highlights issues the oil majors are having ramping up oil production.
- Tangible evidence of the rising marginal cost of production of oil.
Athlon Deal Highlights Exxon Permian Steal
- Encana bought Athlon for $7.1 billion.
- Paid $65,000 per BOEPD and $37,600 per acre.
- Positive read-through for recent Exxon Permian acquisition from Linn Energy.
- Implies Linn paid $278,000 per BOEPD for California acquisition.
MLPs Overpaying For Assets? Atlas May Have Overpaid Versus Cabot In Recent Eagle Ford Transactions
- Atlas and Cabot bought similar assets in a similar time frame.
- Atlas paid approximately $1.5 million per undeveloped location.
- Cabot paid approximately $600,000 per undeveloped location.
Linn Energy Overpaid For Exxon's California Production
- Linn is effectively paying $232,000 per barrel per day.
- The company is sacrificing core land with substantial upside potential.
- It is also buying assets in a politically fraught market.
Conoco North Sea Asset Sale: Surprisingly Good News For BP And An Independent Scotland
- FT reports that Conoco is putting its North Sea assets up for sale.
- Implies rumors of massive recent discovery are false.
- Negative implications for BP, the operator of the block.
- Negative implications for potential tax and economic base for Scotland if it votes for independence - the field is in Scottish waters.
Magnum Hunter And Spartan Surge After Equity Offerings
- Magnum Hunter up 8% and Spartan up 3% the day of the offerings.
- Unusual for stocks to perform well subsequent to "secondary" equity offerings.
- Different uses of capital, but both apparently seen as accretive by the market.
Monterey Shale Is A Bust - Negative For Occidental Spin-Off And Other Implications
- The EIA wrote down 96% of the estimated recoverable oil from the resource.
- This could negatively impact the anticipated spinoff of OXY's California operations.
- Other companies are affected, including CHK's acreage position and VQ's LBO debt.
- Could in theory negatively affect California muni bonds.
Spartan Energy May Double: Stellar Management Track Record, Cheap Valuation, And Production Outperformance
- Among the best track records of any public company management team.
- Already outperforming in the third entity they are running, with more to come.
- Trading below analyst estimates despite beating guidance and projections - an unusual bargain!
- Recent set of 10 wells produced 3x as much as expected in their first 30 days of production.
MLP Suspends Distributions - Second MLP To 'Blow Up' In 2014
- Eagle Rock has suspended its distributions until after the close of a midstream asset sale.
- EROC had already traded down substantially in the past 12 months.
- Second MLP to "Blow Up" in 2014.
The Next MLPs To Crash? Hedgeye Targets Another Pipeline MLP
- Hedgeye targeting another set of MLPs, already down.
- Last MLPs Hedgeye targeted traded down substantially.
- This time may be different, and Hedgeye was not as vocal about the big MLP blowup of 2014.
3 Oil Companies Surprise The Stock Market With Gusher Wells
- Certain oil and gas plays are substantially outperforming production expectations.
- The stock prices of these companies are rising.
- Spartan wells outperform the most of these three, but US investors still don't know the name.
- Tuscaloosa Disappointment Validates Investment Thesis, Negative Implications For Other TMS Players
- Baytex Bids To Buy Out Aurora Oil: Investment Implications
- Boardwalk Blows Up - $3 Billion Of Market Value Evaporates In One Day
- Pipeline Delay Kills, Benefits Railroads
- Exxon, Chevron, Conoco And Shell Disappoint
- 3 Battleground Growth Stocks: Facebook, Tesla And Netflix
- Antero Resources' Massive Utica Well Results
- Seeking Alpha Top Idea Explained In Non Technical Language - AusTex Oil
- Is Herbalife Regulatory Risk Too High To Invest? Nu Skin Aftermath
- Sell Shell And Oil Majors, Buy High Growth Undervalued Juniors
- Five Of The Fastest Growing E&P Companies
- Two Reasons Why Herbalife Was Not Bought Out In The Midst Of A Bear Raid - A Theory
- The Next Great Investment Idea: AusTex Oil Is Trading At 1/3 Of Proved Reserve Value, Growing 300% Per Year
- High Yield, High Risk: Royalty Trust Wealth Destruction And Opportunity Update
- GeoMet Preferred: The Little Preferred Issue That Has Outperformed Linn And Magnum Hunter
- Brutal Weather Hurting Oil Producers, Benefiting Natural Gas Producers
- Troubling Developments For These 2 Companies In The Energy Business
- Natural Gas Prices Surging, Driving Return Potential For This Leveraged Natural Gas Liquidation Play
- Is Alexander Energy The Next Magnum Hunter Or Halcon?
- Barron's Doubles Down On Approach Resources Despite Poor Well Results And Valuation