Meanwhile, U.S. output rose by 25,000 barrels per day last week to 9.7 million barrels per day - the most since the EIA started maintaining weekly data in 1983.
Range Resources (RRC) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Oil rose to a two-year high on Wednesday boosted by Keystone pipeline outage and expectations that oil producing countries will agree to extend a production cut deal.
Occidental Petroleum's (OXY) third-quarter 2017 earnings beat the Zacks Consensus Estimate by 63.6%, misses revenue by 1.3%.
Murphy Oil's (MUR) loss in the third-quarter was narrower than expected while total revenues beat the Zacks Consensus Estimate.
Devon Energy's (DVN) third-quarter earnings surpass estimates and its strong U.S. production might help it deliver 30% year-over-year-growth in current-year's total production.
Anadarko Petroleum's (APC) loss was wider than expected in third quarter and contribution from its natural gas sales was lower due to divestiture of assets.
The energy sector is expected to lead the S&P 500 index this earnings season.
Higher-than-expected oil and gas equivalent production supported the Q3 numbers of Range Resources (RRC).
Southwestern Energy's (SWN) third-quarter 2017 results are expected to gain from investments in high-return areas.
Top Stock Reports for NIKE, Cisco Systems & Gilead Sciences
Williams Partners (WPZ)has commenced construction on the greenfield portion of the Atlantic Sunrise pipeline project in Pennsylvania.
Valero (VLO) and Plains All American have decided to cancel the agreement relating to the acquisition of two petroleum storage and distribution terminals.
Shell's (RDS.A) Canada unit compelled to shut partial operations at Waterton complex owing to wildfire.
Kinder Morgan (KMI) receives approval from Canada's National Energy Board to commence construction on the Burnaby marine terminal.
The agreement is well aligned with Chevron's (CVX) strategy to improve cash flow in 2017 and streamline its portfolio.
Крупный европейский производитель нефтехимической продукции компания Ineos Olefins & Polymers Europe и ее партнер - компания Evergas, специализирующаяся на морских перевозках сжиженных газов, готовятся к началу импорта во второй половине 2015 года сжиженного этана из США.Сжиженный этан будет поставляться с Восточного побережья США из газа сланцевых формаций Marcellus и Utica на основании 15-летнего контракта с американской компанией Range Resources.28 мая 2015 года принят первый из заказанных в Китае восьми танкеров класса Dragon для транспортировки сжиженного этана (а также других СУГ, в том числе и СПГ)Подробнее:http://www.eia.gov/naturalgas/weekly/archive/2015/06_11/index.cfm
Using a geology-based assessment methodology, the U.S. Geological Survey estimated meansof 86 billion barrels of oil and 336 trillion cubic feet of undiscovered natural gas resources inthe Arabian Peninsula and Zagros Fold Belt.Twenty-three assessment units within seven petroleum systems were quantitatively assessed in this study, which represents a reassessment of this area last published in 2000 (U.S. Geological Survey World Energy Assessment Team, 2000) (fig. 1).The seven TPSs and the main geologic elements used to define them are as follows: (1) Huqf–Paleozoic TPS―petroleum generated from Precambrian–Cambrian shales of the Huqf Supergroup in three Oman basins; (2) Paleozoic Composite TPS―petroleum generated from Silurian (and possibly Ordovician) marine source rocks over much of the Arabian Peninsula; (3) Paleozoic–Mesozoic Composite TPS includes the Euphrates Graben of Syria in which petroleum from Triassic source rock is present in addition to that from Paleozoic source rocks; (4) Mesozoic Composite TPS―petroleum generated from synrift Triassic and other Mesozoic source rocks in the Palmyra and Sinjar areas; (5) Madbi–Amran–Qishn TPS of Yemen―petroleum generated from Upper Jurassic marine source rocks; (6) Middle Cretaceous Natih TPS―petroleum from the Natih Formation trapped in the Fahud Salt Basin of Oman; and (7) Mesozoic–Cenozoic Composite TPS―petroleum generated from Middle and Upper Jurassic and Lower and Upper Cretaceous source marine rocks over a wide area of the eastern Arabian Peninsula and Zagros. The 23 AUs that were defined geologically and assessed within these TPS are listed in table 1.The USGS assessed undiscovered conventional oil and gas resources in 23 AUs within seven petroleum systems, with the following estimated mean totals: (1) for conventional oil resources, 85,856 million barrels of oil (MMBO), with a range from 34,006 to 161,651 MMBO; (2) for undiscovered conventional gas, 336,194 billion cubic feet of gas (BCFG), with a range from 131,488 to 657,939 BCFG; and (3) for natural gas liquids (NGL), 11,972 MMBNGL, with a range from 4,513 to 24,788 MMBNGL (table 1).Of the mean undiscovered conventional oil resource of 85,856 MMBO, about 92 percent (78,747 MMBO) is estimated to be in six AUs within the Mesozoic–Cenozoic Composite Total Petroleum System (fig. 1B); most of this oil is estimated to be in the Zagros Fold Belt Structures AU (mean of 38,464 MMBO), the Mesopotamian Basin Anticlines AU (mean of 26,856 MMBO), the Arabian Platform Structures AU (mean of 6,626 MMBO), and the Horst Block and Suprasalt Structural Oil AU (mean of 5,300 MMBO).For the undiscovered conventional gas resource mean of 336,194 BCFG, 96 percent is in two total petroleum systems: Paleozoic Composite TPS (mean of 189,273 BCFG) and the Mesozoic–Cenozoic Composite TPS (mean of 132,876 BCFG). In the Paleozoic Composite TPS, 56 percent (106,180 BCFG) of the undiscovered gas is estimated to be in the Zagros Fold Belt Reservoirs AU (table 1).Similarly, 64 percent (85,610 BCFG) of the undiscovered gas in the Mesozoic–Cenozoic Composite TPS is in the Zagros Fold Belt Structures AU.- - - - -conventional oil resourcesСреднее 85,856 million barrels of oil (MMBO) = 11.7 млрд. тrange 34,006-161,651 = 4.64 - 22.05 млрд. тconventional gas336,194 billion cubic feet of gas (BCFG) = 9.4 трлн. м3range 131,488-657,939 = 3.7 - 18.4 трлн. м3- - - - -BP Statistical Review of World Energy June 2012Запасы нефти 765 млрд.барр = 104 млрд. тгаза 80 трлн. м3Отношение средних неоткрытых ресурсов к известным запасам нефть = 11.7/104 =11.3%газ = 9.4/80 = 11.8%Почти все открыто. Если использовать более скептичный подход и разделить на 3 неоткрытые ресурсы, то получается 3.8-3.9% от известных запасов.