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Month: May 2018

Oil Price Perfect Storm | OutPut by Rig Lynx

May 16, 2018
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Brought to you from OutPut by Rig Lynx – Oil prices are on the cusp of $80 a barrel, and all market signals point to further increases. Get ready for $100 oil, perhaps as early as this summer. Brent, the international oil- benchmark, reached a record $147 a barrel in 2008 before the financial crisis reversed its meteoric rise. Challenging that level –

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25,000 BPD Worldwide Oil Demand Increase | OutPut by Rig Lynx

May 15, 2018
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  Brought to you from OutPut by Rig Lynx – OPEC revised up on Monday its forecast for global oil demand growth this year, but noted that sanctions, tariffs, and the U.S. withdrawal from the Iran nuclear deal point to rising uncertainty over the global economic growth momentum. In its closely watched Monthly Oil Market Report out today, OPEC revised up its global oil

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4 Big Factors with US Oil and Gas | OutPut by Rig Lynx

May 15, 2018
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Brought to you from OutPut by Rig Lynx –Here are four big factors influencing the domestic oil and gas industry as the week begins: The rig count continues to escalate steadily.  The DrillingInfo daily rig count sits at 1105 as of May 13, up 25 from two weeks before.  This is not surprising at all – crude oil prices remain strong, making

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Country Reserves Depleting? | OutPut by Rig Lynx

May 15, 2018
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Brought to you from OutPut by Rig Lynx –The Australian government has ordered a review of fuel security after experts warned the country only has weeks of petrol, diesel and aviation fuel supplies left in its reserves. The country’s energy minister, Josh Frydenberg, said it was the “prudent and proper thing to do†but should not be interpreted as Australia

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Rig Count Tick Up for 6th Straight Week | OutPut by Rig Lynx

May 14, 2018
| Weekly Rig Count

  Brought to you from OutPut by Rig Lynx – May 11 (Reuters) – U.S. energy companies added oil rigs for a sixth week in a row as crude prices continue to soar to multi-year highs after new sanctions on Iran are anticipated to take some supply out of the market, further supporting U.S. drilling and pushing production to record highs. Drillers

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Geologist Slams Permian Growth but Keeps Company Stock? | OutPut by Rig Lynx

May 14, 2018
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  Brought to you from OutPut by Rig Lynx – Geologist Arthur Berman, who has been skeptical about the shale boom, warned on Thursday that the Permian’s best years are gone and that the most productive U.S. shale play has just seven years of proven oil reserves left. “The best years are behind us,†Bloomberg quoted Berman as saying at the Texas

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$32 Million to Remove the Word Oil From Company Name? | OutPut by Rig Lynx

May 14, 2018
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Brought to you from OutPut by Rig Lynx – Norway’s biggest petroleum company, will change its name to Equinor as it seeks to broaden its energy reach beyond oil and gas production. “The world is changing, and so is Statoil,†said Chairman Jon Erik Reinhardsen in a statement. “The biggest transition our modern-day energy systems have ever seen is

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600,000 BPD Pipeline Plan for the Permian | OutPut by Rig Lynx

May 12, 2018
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Brought to you from OutPut by Rig Lynx – Energy Transfer Partners plans to build a 600,000-bpd oil pipeline from the Permian to the Houston Ship Channel and Nederland, Texas, as midstream operators race to add takeaway capacity in the fastest-growing U.S. shale play. The planned ETP pipeline could be “easily expandable†to 1 million bpd, company executives said on the conference call

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Venezuela and Conoco, Troubled Love Story | OutPut by Rig Lynx

May 12, 2018
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Brought to you from OutPut by Rig Lynx – While the oil market is understandably on edge about the potential supply outages in Iran, there are real outages going on in Venezuela, losses that could grow significantly worse in the near future. ConocoPhillips’ decision to go after some assets owned by PDVSA could spell deeper trouble for the oil company and for

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Red Dog Drilling Sold To Matrrix Energy | OutPut by Rig Lynx

May 11, 2018
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* TO ACQUIRE OIL AND GAS DRILLING ASSETS FROM RED DOG DRILLING INC. * PURSUANT TO AGREEMENT, MATRRIX WILL ACQUIRE PURCHASED ASSETS FOR A PURCHASE PRICE OF $5.7 MILLION * MATRRIX ENERGY TECHNOLOGIES- DEAL TO BE PAID WITH ISSUANCE OF 1.6 MILLION COMMON SHARES OF CO AT $0.45 PER COMMON SHARE AND $5 MILLION IN CASH * MATRRIX ENERGY TECHNOLOGIES-

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