XOP News and Press, SPDR S&P Oil & Gas Explor & Product From 02/28/23

Summary There is some evidence of lower consumption trends for crude oil as LNG becomes a more popular fuel. Next week’s EIA data set will examine the trends concerning this observation. The rig count belies the rising Fudge Factor in EIA data which suggests US Crude producti...

Summary The average annual increase in World C+C output over the 2005Q1 to 2024Q4 period (20 years) is about 473 kb/d. The top 10 non-OPEC oil producers as of 2022Q3 are the US, Russia, Canada, China, Brazil, Norway, Mexico, Kazakhstan, Qatar, and Oman. The EIA and OPEC have similar...

Conversion of Bonds LONDON, UK / CALGARY, AB / ACCESSWIRE / February 17, 2023 / Canadian Overseas Petroleum Limited ("COPL" or the "Company") (CSE: XOP )(LSE: COPL ), an international oil and gas exploration, production and development company with production and development operations focus...

Summary The oil macro in 2023 will likely be heavily influenced by headlines related to Russian supply and Chinese demand as the country reopens. US production growth is expected to be modest, as companies practice capital discipline and grapple with service cost inflation. Traditio...

Summary With the CPI losing the relief from cooling energy prices, this month showed a solid uptick in prices, coming in at 0.54% (~6.6% annualized). One concerning thing about the most recent print is that many categories sit above the current 12-month trend. The Fed has been reloa...

Summary October non-OPEC oil production increased by 562 kb/d to 50,565 kb/d. For frac spreads, the general trend since late February 2022 can best be described as essentially flat around the 290 level but with a hint of a slow increase toward 300 frac spreads. World oil production ...

Summary EOG is forecast to raise its payout to very high levels with strong free cash flow growth. With an upcoming earnings date, the firm confirmed the Q4 reporting date very earlier relative to its historical trend - empirically a bullish feature. I also see optimism on the chart...

Summary As oil and gas companies have shifted from survival to cash generation mode, their capital return strategies have come into focus. Some U.S. independents prioritize buybacks while others rely on dividends; few companies employ a mix of both strategies. I explore if there is ...

Summary After a year best forgotten, 2023 has started out with a bang. January was a strong month that gave equity investors a timely relief rally. While this was a welcomed development, I am concerned that equity prices are getting too disconnected from reality. We have a challenging m...

Summary U.S. November production decreased by 35 kb/d to 12,375 kb/d. Since the beginning of April 2021 through to the week ending July 29, 2022, the US added horizontal oil rigs at a rate of close to 3.82 rigs/wk, orange OLS line, and peaked at 551 rigs in the week ending July 29. ...