Oil and Gas by the Numbers 08/26/2011

I start by apologizing for such a long absence.  There are still parts of rural America that broadband is a long way from reaching. The telephone poles and pipelines are however continuing to cross more of once bare land as the domestic oil push continues.  The oil prices seem to be holding today at $85.33/barrel on the WTI, and natural gas currently sits at $3.92.  The next couple of months will be interesting to watch with our seasonal changes in the markets coming up and the government involvement in a lot of things oil and gas.  Some of you might also be interested to see a small flurry of activity in the permit department in MT this last week.

Rig Count

USA Total: 1975    +1 from last week
TX             896     +3
OK            195
ND            179     +3
LA             158
PA             113     +3
NM             88
CO              76
WY             51
CA              49
UT               27
WV             20
AK                7    +1
MT                6

Approved Permits

08/19/11 thru 08/25/11

TX      320

ND       66

MT       10 New, 5 reissued

CA        No update since 08/13/11

WY       55 (4 in the Niobrara formation)

Gasoline Prices

08/26/2011

US Average:  $3.604/gal

US Low: AZ  $3.329/gal

US High:  HI   $4.110/gal

For a printer friendly copy of the report above please go to: Oil and Gas by the Numbers 08/26/11

McMoRan beats Street Estimates

Gas prices help company to cut losses from last years numbers.
McMoRan beats Street - Upstream Online

Montana State announces the Sale date for State Leases

Montana state's quarterly oil and gas lease sale is scheduled for June 7, 2011 in Helena.  For a full write up on DNRC Montana's sale: Montana quarterly sale of Oil and Gas leases.

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

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





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

Natural Gas Hopes- US Truck fleets consider converting

Oil Companies show faith in Natural Gas