American Petro Hunter - Industry Commentary

Investing In The Mississippi Lime - Is It The 'New Bakken'?

Wed, 25 Jan 2012 00:00:00

North Dakota Bakken Shale has enriched thousands of investors, land holders, and oil companies. Horizontal drilling and improved fracking technology have been the key to unlocking the Bakken's oil riches. For North Dakota, a state previously known mostly for frigid winters and desolate, wide-open spaces, the boom times are especially astounding.

Now, the good fortune may be spreading south to Kansas and Oklahoma. Horizontal drilling and fracking are now being applied to the Mississippi Lime region in northwestern Oklahoma and southern Kansas. The Tulsa World quotes Eagle Energy's CEO Steve Antry as saying: "It's probably the hottest play going in the country. [more]

Industry third-quarter earnings climb with higher oil prices, refining margins

Mon, 12 Dec 2011 00:00:00

(Oil&Gas Journal) -- Oil and natural gas companies based in the US and Canada reported a collective surge in earnings during the third quarter compared with year-earlier results.

A sample of US-based producers and refiners combined for a 35% increase in third-quarter earnings, and a sample of Canadian firms combined to post a 16% earnings increase from a year earlier.

Many operators reported improved results due to higher crude oil and gas realizations and generally stronger refining margins. But 13 of the US-based companies posted a net loss for this year's third quarter.

Oil prices were higher than those recorded during third-quarter 2010 on slightly greater worldwide demand along with geopolitical tensions and a decline in Libya's oil output.

The front-month futures price of West Texas Intermediate crude on the New York Mercantile Exchange averaged $89. [more]

Oil's up, gas is down. Why?

Thu, 1 Dec 2011 00:00:00

NEW YORK (CNNMoney) -- Those anxiously watching the rally in U.S. oil prices over the past few weeks have received a pleasant surprise at the pump: while oil has shot upward, gasoline is moving in the opposite direction.

The moves may seem counter-intuitive, since crude oil is used to produce gas. But while the two are closely related, there are a number of factors that can push their prices apart in the short term.

U. [more]

Technological advances revive Kansas oil fields

Thu, 29 Sep 2011 00:00:00

MEDICINE LODGE (The Wichita Eagle) � There's a new land rush on the Oklahoma state line, but this time it's not settlers stampeding south, it's oil companies flowing north.
Expensive new technologies that bring new life to old oil fields have prompted several large oil companies to buy up leases on hundreds of thousands of acres in Kansas.

In what may be the most significant move, Shell Oil bought two very large lease tracts in Kingman, Harper and Barber counties from Wichita oilman Wayne Woolsey, the first time the company has been back in Kansas in two decades.

Chesapeake Energy and SandRidge Energy, major independents based in Oklahoma City, have also entered the state in a big way. Others are said to be here already or rumored to be on their way.

Oil company landmen have swarmed landowners and county offices in the bottom two tiers of Kansas counties. [more]

JPMorgan Boosts 2011 Oil-Price Forecasts as Producers Not Matching Demand

Sat, 7 May 2011 00:00:00

JPMorgan Chase & Co. (JPM) raised its oil- price forecasts because OPEC and other producers aren�t matching rising demand and consumers will take time to react to higher prices.

The bank boosted its 2011 Brent crude forecast to $120 a barrel from $110, and changed its estimate for West Texas Intermediate crude to $109.50 from $99. Forecasts for 2012 prices were raised to $120 and $114, respectively.

�While financial bushfires or perhaps a rapid resolution to the Libyan civil war could radically alter market dynamics, the balance of both risks and fundamentals still points to a supply-constrained world,� JPMorgan analysts led by New York- based Lawrence Eagles wrote in a report yesterday. [more]

IMF hikes oil price forecast by 20%

Mon, 11 Apr 2011 00:00:00

This year's oil price spike has dragged the IMF kicking and screaming into the world of overstressed energy markets.

The International Monetary Fund said Monday that it expects the global oil price to average $107 a barrel this year and $108 next. That's 20% above its previous forecast, thanks to stronger-than-expected global petroleum growth in 2010 and a less than enthusiastic supply response.

Global oil demand rose 3.4% last year, the IMF said in the latest release of chapters from its semiannual World Economic Outlook report. That's the fastest pace since 2004 and double the rate IMF forecasters projected at the start of 2010. [more]

Oil Surges to Highest Year-End Price Since 2007 on Dollar

Sun, 2 Jan 2011 00:00:00

Oil surged to its highest year-end price since 2007 as the dollar weakened and gasoline and heating oil futures climbed.

Crude capped its second consecutive year of gains as the dollar dropped against the euro, boosting commodities� appeal as an alternative investment. Oil settled above $91 a barrel after testing technical support near $89. Gasoline and heating oil advanced before the January contracts expired today.

�A weaker dollar and stronger product prices are all bolstering crude,� said Jason Schenker, president of Prestige Economics LLC, an Austin, Texas-based energy consultant.

Oil for February delivery climbed $1. [more]

Oil Trades Near Two-Year High as U.S. Inventories Decline, Economy Expands

Thu, 23 Dec 2010 00:00:00

Crude oil rose to the highest level in more than two years as confidence among U.S. consumers advanced to a six-month high, signaling that fuel demand will increase in the biggest oil-consuming country.

Oil jumped as much as 0.9 percent after the Thomson Reuters/University of Michigan final index of consumer sentiment for December climbed to 74.5 from 71. [more]

Oil Inventories Decline in Survey on Demand From Refiners: Energy Markets

Tue, 7 Dec 2010 00:00:00

U.S. oil supplies probably fell for the first time in three weeks on increased demand from refiners as they boosted production, a Bloomberg News survey showed.

Inventories dropped 1.5 million barrels, or 0.4 percent, in the seven days ended Dec. [more]

Oil hits 25-month high on U.S. stocks draw

Wed, 10 Nov 2010 00:00:00

Oil prices soared to the highest level in 25 months on Wednesday, rising for the seventh time in eight sessions as U.S. government data showed an unexpected heavy drawdown in crude inventories last week.

The day's price surge broke oil's recent strong inverse correlation with the dollar, which rose to a one-month high against the euro.

Oil traded higher after data from the U.S. [more]