From riding high to bankruptcy, Chesapeake Energy Corporation’s decline will shock many in the industry. Evaluate Energy tracks Chesapeake’s cash and financing gap over 10 years.
June 29, 2020, 11:23 AM MDT
Mohammad bin Salman’s (MBS) primary method of stoking the embers of secular Saudi nationalism has been his regional Cold War with Iran, as he has long cast the Islamic Republic as the root of all problems in the Middle East, arguing political — the battle for regional hegemonyand theological — with the Saudis primarily Sunni Muslims and Iranians despised Shiite ones — differences make negotiations between them impossible. MBS has compared Iran’s supreme leader, Ayatollah Ali Khamenei, to Adolph Hitler and threatened to instigate violence within Iran’s borders.
June 24, 2020, 6 AM MDT
The COVID-19 pandemic has driven a number of both private and publicly-held Canadian oil and natural gas companies into insolvency proceedings.
June 24, 2020, 9:50 AM MDT
King Salman has painted his kingdom into a corner by concentrating power in his matrilineal line of the royal family, and his young and inexperienced son Mohammad bin Salman (MBS) in particular, since ascending the throne in January 2015. By making MBS crown prince in June 2017, after pushing aside two previous princes from other lines of the family, and making his son de facto ruler of Saudi Arabia, the king has inadvertently made the House of Saud brittle.
June 23, 2020, 7:32 AM MDT
The impact of demand destruction and oversupply resulting in negative oil prices was realized in April when western Canadian operators began to shut in oil production. Oil production fell to 2.144 million bbls/d in April, a 22 per cent or 591,000-bbl/d reduction from December levels of 2.736 million bbls/d.
June 23, 2020, 11:05 AM MDT
Premier Jason Kenney backstopped TC Energy’s Keystone XL (KXL) pipeline with $7.5 billion of Alberta’s money at the end of March to ensure a positive final investment decision (FID) and construction on the project to start in April.
May 28, 2020, 5:49 AM MDT
A total of $5.4 billion in capital was raised by the Canadian oil and natural gas industry in 2019, up one per cent from the $5.3 billion raised in 2018.
May 27, 2020, 7:08 AM MDT
The devastating effects of the pandemic-forced production shut-ins could put Canada and the United States on a regressive path toward dependency on “foreign oil,” a historically disparaging term.
May 21, 2020, 7:25 AM MDT
Irving Oil Limited’s recent move to source western Canadian crude oil for its 320,000 bbl/d Saint John refinery, the largest in the country, using foreign tanker ships rather than rail or non-existent pipeline is nothing short of genius and an indictment on Canadian energy policy (see Irving Oil Applies To CTA For Tankers To Ship Canadian Crude To Its Saint John Refinery).
May 13, 2020, 6:23 AM MDT
In an article penned by Sayer Energy Advisors in April of 2018 we posed the question; “Will Increased Strategic Alternatives Processes Kick-Start Consolidation?”.
April 29, 2020, 7:20 AM MDT
What does our energy future look like? Right now, I feel like I’m already in the future, in some sci-fi movie. You know the genre, where people are trapped in a cyber-stoked parallel reality.
April 21, 2020, 6 AM MDT
Like many concerned Canadians in this time of unprecedented disruption, I’ve been thinking often of my grandparents, who lived through a Great Depression and a World War.
April 20, 2020, 6 AM MDT
California is home to two of North America’s highest cost oil producers by far according to latest data from Evaluate Energy.
April 16, 2020, 10:36 AM MDT
Evaluate Energy, the leading provider of essential data to Oil & Gas and Renewable Energy markets, is launching a new forecasting tool to assess the impact of COVID-19 on global petroleum demand.
April 15, 2020, 10:49 AM MDT
North Dakota’s Bakken formation, the Permian Basin and the Eagle Ford shale are home to some of North America’s lowest cost oil producers according to the latest data from Evaluate Energy.
April 15, 2020, 7:55 AM MDT
Despite misplaying his hand horribly, and rather remarkably being outsmarted by both Saudi Crown Prince Mohammed bin Salman (MBS) and U.S. President Donald Trump, Russian President Vladimir Putin made virtue of adversity by agreeing to the historic OPEC+ deal finalized on April 12. This has allowed him to relay the groundwork for his strategy to win the price war against the U.S. shale industry.
April 14, 2020, 7:59 AM MDT
A handful of North American oil companies were happy to take on significantly more risk in 2019 in their pricing strategy per barrel – and would have suffered greatly in the price drop of early 2020.
April 14, 2020, 8:55 AM MDT
Canadian oil and gas companies are rapidly adjusting their cost structures to remain viable as the collapse in oil prices resulting from the drop in demand from the COVID-19 pandemic hammers cash flows, according to the results of the Daily Oil Bulletin Pandemic Survey.
April 9, 2020, 9:22 AM MDT
Canada will likely shut-in more than 1.1 million bbls/d of production in Q2 2020 as COVID-19 devastates global oil demand and producing countries fail to agree on output cuts, says Rystad Energy AS.
April 9, 2020, 9:24 AM MDT
The 2020 Olympics have been deferred, but the Geopolitical Oil Games are full on. Who will stand on the gold podium? Saudi Arabia, Russia or the United States? Will countries like Canada, Brazil or Norway even place?
April 8, 2020, 6 AM MDT
Everybody in the world (this statement has meaning like it never did before) understands that humanity faces a real, immediate crisis — the COVID-19 pandemic. And world economies face another less deadly but still profound crisis caused by the pandemic and the Russia / OPEC price war that has upset global oil markets.
March 31, 2020, 12 AM MDT
In the first two articles of this series I put forth the thesis that the current oil price war was instigated by Russian President Vladimir Putin with the goal of causing substantial permanent damage to the U.S. shale industry, and the third article discussed three possible wildcards related to my thesis.
March 30, 2020, 6:52 AM MDT
The first two articles in this series explained the rationale for Russian President Vladimir Putin’s oil price war, the second article in more detail than the first. Before delving into three major wildcards that could impact Putin’s price war, both in a positive and negative manner, I have one matter I wish to discuss related to the central thesis, based on comments by a few friends and colleagues over the past week.
March 27, 2020, 4:52 AM MDT
The total enterprise value of merger and acquisition (“M&A”) transactions in the Canadian oil and natural gas industry dropped 34 per cent, falling to approximately $8.0 billion in 2019 from the $12.1 billion recorded in the previous year.
March 25, 2020, 8:31 AM MDT
Industry must cut Western Canada’s crude production by some 11 per cent for April, says Rystad Energy AS, as the country is days away from running out of available storage capacity given the large global supply surplus created by the COVID-19 demand deconstruction and an ongoing Saudi-Russia oil price war.
March 25, 2020, 8:30 AM MDT