By Bill Powers Natural gas production in Texas in Q1 2015 declined 1.5 billion cubic feet per day (bcf/d), results from the Texas Railroad Commission (RRC) show.   That’s a 5.5% decline on the 22 bcf/d Texas produces—a full one third of all natural gas production in the USA. Conservatively, I expect...
By Bill PowersOne of the little spoken truths of the shale gas industry over the past three years has been that most of America’s gas fields are now experiencing production declines with one large exception: the Marcellus Shale in Pennsylvania.And that narrow reliance on one play gets even more...
What’s the most important factor for the oil price in 2018? Would you believe me if I told you it was the US natural gas price? As a minimum, the US natural gas price is one of, if not the most under-appreciated factor in the price of WTI—for one simple reason: There...
Poseidon Concepts executive Kostelecky Is Criminally Charged Editors Note:  Calgary's Poseidon Concepts was a market darling in 2011-2012, rising from $2.65 - $16 on the Toronto Stock Exchange.  The company proclaimed it was so profitable making and selling frac water tanks, it started a dividend.  But doubts in the Market...
Tanker stocks around the globe were crushed on Thursday as the TeeKay group--with six US listed equities and bonds--reduced their dividend to shore up their balance sheet. That was my oppotunity--and for OGIB subscribers. I've been following another tanker group--Golar (GLNG-NASD) and Golar Partners (GMLP-NASD) for years.  I knew the companies, I had...
We are now into Round 2 of the Global Oil War—where the Saudis maximize their revenue, and keep US shale producers—and their lenders—under the Saudi thumb. But there are a few very smart men—and I’ll tell you about a few of them in a minute—who think the price war will...
What did Chevron accomplish in 2015 by outspending cash flow by $19 billion? Increase production a paltry 2%. Barely replace reserves--107% of production. That is what Chevron managed to achieve in 2015 by spending $31 billion while generating just $19 billion of cash flow.  And that is actually incredibly bullish, despite...
Two catalysts just ratcheted up investor interest in west coast LNG—Liquefied Natural Gas. One was the re-election of the centre-right Liberal party in British Columbia in May.  The second catalyst came in mid-June, when Malaysia’s Petronas announced it wants to spend $16 billion—as fast as government approvals will allow—to ship...