Oil and Gas by the Numbers 05/27/2011

Good afternoon everyone.  Well today it looks like we are starting to move forward again in our rig numbers.  The US total made a jump of 17 over the week.  Crude oil seems to be hovering at $100.19/barrel at the moment and natural gas is making a nice upswing $4.51 an increase of 3.56% so far today.  As we head into the holiday weekend that traditionally marks summer gasoline price increases, we are actually looking at some big changes in price on a down trend.

Rig Count

updated 05/27/11

US: 1847
TX: 835
LA:  165
OK: 173
ND:  162
PA:  110
NM:  77
CO:  72
WY:  41
CA:  44
UT:  29
AK:  05
WV: 19
MT:  10

Applications to Drill

05/20/11 thru 5/26/11

TX: 357
ND: 32
MT: 2
CA: No update
WY: 45

Gasoline Prices

05/27/2011

US average: $3.796/gal
Low: SC $3.528/gal
High: AK $4.204/gal

Development in Colorado, Utah, and Wyoming under the microscope again.

Obama's administration is making plans to have the BLM review, yet again, the environmental impact of development of shale play resources in Colorado, Utah, and Wyoming.

BLM review of oil shale development

Oil rises above $121 after a two day decline

For the latest politics behind the current oil prices please click the link below.
Oil rises above $121 - Upstream Online

Oil and Gas by the Numbers 04/08/2011

Good Afternoon!  As I sit and listen to the news today I can't help but think too many people in DC are wanting a long vacation over Easter.  However with fuel prices what they are most of us will have to be conservative.  WTI rings in at noon today at $111.82/barrel.  It seems that the trend is going to keep climbing. With summer coming in some parts of the US the demand should also increase to support the climbing prices.  For those of you interested in where the economists think that our oil costs are going make sure to check out the link: Poll predicts 130 oil in 2011.

Rig Count

updated 04/08/11

United States Total: 1782 (an increase of 6)
TX: 791
LA: 174
OK: 160
ND: 159
PA:  107
NM: 76
CO: 72
WY: 40
CA: 41
MT: 11
AK:  4
For more information and other state counts please check out: Baker Hughes Rig Count.

Permits Issued for Drilling

04/01/11 thru 04/07/11

TX: 412
ND: 36
MT: 6 new, 6 reissued
CA: no new report
CO: no new report
WY: 42

Gasoline Prices

04/08/11

National Average:  $3.727/gal
US Low:  WY $3.459
US High:  HI $4.470

Poll predicts $130 oil in 2011

If the prices at the pump are not high enough to deter you yet then just wait a month or two.  Experts are predicting that $150/barrel on the BRENT is a possibility for this year. 

Poll predicts $130 oil in 2011 - Upstream Online

ConocoPhillips executive warns of low Trans-Alaska Pipeline System flow

Low production and high taxes threaten the use of the Taps.  With little incentive to explore and invest, one of the US's major oil resources is being under produced.
Mulva warns of low Taps flow - Upstream Online

Texon cheers Leighton double

Texon cheers Leighton double - Upstream Online

Oil and Gas by the Numbers 04/01/2011

Good Afternoon!  The oil and gas industry seems to be on up swing this week.  Crude prices are up, rig counts are up, permits numbers submitted are up, and of course gasoline prices are up.  I have to wonder when we will see the top of the climb and settle in for a strong but steady pace that we can maintain. As of 11:30 AM the price of WTI crude was a whopping $107.55/barrel.  With that in mind here are the rest of the numbers for the week:

Rig Count

updated 04/01/11

• United States Total:  1776 (an increase of 38 rigs from last weeks total)
• TX:  770
• LA:  175
• OK:  175
• ND:  159
• PA:  104
• NM:  78
• CO:  72
• WY:  40
• CA:  41
• MT:  11
• AK:  6

For more information and other state counts please check out: Baker Hughes Rig Count

Permits Issued for Drilling

03/25/11 thru 03/31/11

TX:  269 (approved new drill permits)
ND: 34
MT:  2 new, 3 reissued (this is prior weeks data)
CA:  nothing new released
CO:  After a flurry of activity earlier this month there appears to be no new permits issued.
WY: 42

Gasoline Prices

04/01/11

National Average:  $3.611/gal
US Low:  WY $3.373/gal
US High:  HI $4.304/gal

EOG and Chesapeake brass see Natural Gas future in different lights

Mark Papa, EOG chief executive, and Aubrey McClendon, Chesapeake chief executive,  have more then a few things in common.  Both lead the way in large energy companies that are making news in some of the major shale plays in the US.  Both leaders have companies that handle natural gas either as the whole product or as a by-product of oil. Most importantly they both agree that the natural gas market has been oversupplied, in part due to the same shale plays in which they are both actively producing.
Still with these things in common the two executives take a very different look at the future of natural gas in the US.  EOG's CEO, Mark Papa, was quoted today saying "it is "astounding" that all of his peer competitors plan to increase production." EOG however expects a drop of 5%.  Chesapeake CEO, Aubrey McClendon, in turn is optimistic about natural gas prices and believes there will be a higher demand for natural gas in the near future.

To see the whole report and compare for yourself check out these links:
Chesapeake sees sunny outlook
EOG boss 'astounded' at gas dash

Trans Energy Inc. RESULTS ON ITS STOUT #2H

Trans Energy Inc

Hot sectors, jobs on investors' radar

Hot sectors, jobs on investors' radar - 1440 WNFL

Origins of the Marcellus gas boom

Origins of the Marcellus gas boom - Chambersburg Public Opinion

Upcoming Williston Basin Pipeline Webinar

ND Pipeline Authority - Williston Basin Update

Oil and Gas by the Numbers 03/25/2011

Good Afternoon! There are lots of new things going on in the oil and gas world this week.  The price of oil this afternoon is currently at $105.13/barrel.  I am interested to see what impact the new permits in the Gulf will have on future oil prices.  I am also watching the new list of permits requested in the Niobrara on the Wyoming side of the formation.  National rig count is up again by a total of 18 rigs. That is about twice the jump we have seen so far this month.

Rig Count

updated 03/25/11

• United States Total:  1738 (an increase of 18 rigs from last week)
• TX: 766
• LA: 176
• OK: 156
• ND: 155
• PA: 104
• NM: 77
• CO: 71
• WY: 38
• CA: 42
• AK: 6

For more information and other state counts please check out: Baker Hughes - Rig Count

Permits Issued for Drilling

03/18/11 thru 03/24/11

TX: 525 (approved new drill permits)

ND: 31 (snow storm shut down whole state, may have dropped numbers for one day)

MT: no new numbers reported

CA: no new numbers reported

WY: 85 (oil/gas and CBM)

Gasoline Prices

03/24/11

National Average: $3.556/gal

US Low: WY $3.318/gal

US High: HI $4.247/gal





New Oil and Gas Operators add

I just finished adding some more names to the producer/operator list.  I still have several more to research and add so please check often if you are looking of a specific company.  Better yet leave me a comment if there is a company you have been looking for, maybe I can help.

Rex strikes out in Niobrara (BJB 34-14H)

Rex strikes out in Niobrara - Upstream Online

Chesapeake ordered to stop work

Chesapeake ordered to stop work - Upstream Online

US Natural Gas scores oily acreage

US Natural Gas scores oily acreage - Upstream Online

Anadarko in $575.5m Colorado BP plant buy

Anadarko has agreed to pay BP $575.5m for the 93% interest in the Wattenberg processing plant that it doesn't already own. 
The following link has the whole article from Upstream Online:
Anadarko in $575.5m BP plant buy - Upstream Online

Newfield Exploration acquires new assets in Uinta Basin

Newfield announced yesterday that they have signed two separate purchase agreements for a total of 70,000 net acres in the Uinta Basin.  The mostly undeveloped acreage will border Newfields current acreage -Monument Butte.  The transaction is expected to be finished in the second quarter 2011.  A full report from Energy Pedia along with a map of the area can be found at the following link:
US: Newfield Exploration acquires Uinta Basin assets from Harvest Natural Resources