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Rick Perry, former Texas governor, gave his support to the US oil export ban to be lifted.

by charlie on March 30, 2015

This weekly news column is for the growing number of private investors wishing to keep their finger on the pulse of the ever changing energy business, and is provided as a free informational service.

Industry News

Schlumberger sees prudence as new normal for US shale oil
In the face of sliding oil prices, Schlumberger, the worlds number 1 oil field services provider says that financial prudence in shale projects will be the new norm. Gone are the days of the intensive CAPEX budgets. Read more

Crude oil storage at Cushing highest on record
After increasing for 15 consecutive weeks oil storage at Cushing, Oklahoma, reached over 54 million barrels on March 13, according to an EIA report. full article

Market News

Rick Perry, former Texas governor, gave his support to the US oil export ban to be lifted.
Perry, a likely candidate for the 2016 Republican  presidential nomination, said that if he won the White House,  he would propel North America into the global energy business “in a big way.” more

Hedge funds get short of US oil as storage begins to weigh
Hedge funds have turned super-bearish about U.S. oil prices as concerns about running out of storage trump the drop in the number of rigs drilling new wells.Money managers had amassed a record number of short positions in futures and options contracts linked to WTI (West Texas Intermediate) by the end of March 17, equivalent to 209 million barrels of oil, according to the U.S. Commodity Futures Trading Commission’s (CFTC) latest commitments of traders report published on Friday. more

Environmental & Safety News

New fracturing regulations will have limited affect on US oil and gas output.
The recent US ruling about hydraulic fracturing on federal and tribal lands will have limited effect on existing US oil and natural gas production, said a Barclays Research analyst in New York. read here

M&A News

Linn Energy is to manage Quantum Energy Partners new entity.
Private Equity firm Quantum Energy Partners will invest $1Billiion in a new entity focused on acquiring oil and gas assets. more

Enlink to acquire VEX pipeline from Devon Energy
EnLink Midstream Partners LP, Dallas, reported entering into an agreement to acquire the Victoria Express Pipeline (VEX) and related truck terminal and storage assets from Devon Energy Corp. for a total of $210-220 million. The transaction is expected to close by April 1. full article


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