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Review: Cabot: This Oil And Gas King Could Jump $10 By 2014 - The Mumbai Times

Sun, 20 May 2012 08:10:08 +0000

The 24 analysts offering 12-month price forecasts for Southwestern Energy Co have a median target of 35.50, with a high estimate of 63.00 and a low estimate of 23.00. The median estimate represents a +21.95% increase from the last price of 29.11.

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Cabot Oil & Gas (COG) . Cabot is all about not only learning new ways to conduct business, but the company acts quickly, taking advantage of great opportunities. Chesapeake Energy (CHK) , Cabot does not fear change. After presenting gains of 100% last year, even with much lower natural gas prices, the company steams full throttle ahead seeking new plays for oil and liquids while maintaining a supply of natural gas awaiting rising prices. Because of the way this fearless giant embraces change, I believe this to be a company that will be profitable for the long-term investor.

Review: Cabot: This Oil And Gas King Could Jump $10 By 2014 - The Mumbai Times

In Spotlight: Xtreme Oil & Gas Inc. (XTOG) - The Mumbai Times

Sat, 19 May 2012 10:37:30 +0000

The 24 analysts offering 12-month price forecasts for Baker Hughes Inc have a median target of 54.00, with a high estimate of 80.00 and a low estimate of 42.00. The median estimate represents a +30.91% increase from the last price of 41.25.

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SAN FRANCISCO (MarketWatch) — Crude-oil futures have lost nearly 12% so far this month, putting a dent in the confidence of even the most bullish of investors and analysts, but there are still some potential price-lifting factors for oil lurking in the backdrop.

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CLM2 -0.35% settled at $92.56 a barrel, down 25 cents for its 11th loss in 12 sessions. Month to date, futures prices have dropped over $12.

In Spotlight: Xtreme Oil & Gas Inc. (XTOG) - The Mumbai Times

Xtreme Oil & Gas Inc. (XTOG) - MarketWatch

Fri, 18 May 2012 20:38:11 +0000

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CLM2 -0.50% settled at $92.56 a barrel, down 25 cents for its 11th loss in 12 sessions. Month to date, futures prices have dropped over $12. So this past month, the market “took a step back and refocused on the actual fundamentals now, rather than some possibility of future supply disruptions,” he said.

Xtreme Oil & Gas Inc. (XTOG) - MarketWatch

Canada pledges oil and gas pollution rules by 2013 at climate conference - Montreal Gazette

Fri, 18 May 2012 06:25:41 +0000

The Suncor oilsands mine near Fort McMurray, Alberta, is shown in this September 24, 2010, file photo. Canada pledged to crack down on oil and gas pollution and is working on a set of draft regulations by next year, climate change ambassador Guy Saint-Jacques told a climate conference in Germany Thursday.

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Facing questions about its upcoming withdrawal from the Kyoto Protocol and "gaps" in its existing policies, Canada told international climate change talks in Germany Thursday that it planned to crack down on oil and gas pollution through draft regulations by next year. Guy Saint-Jacques, Canada's chief negotiator and climate change ambassador, said that the Canadian government was "working towards draft regulations for 2013" in the oil and gas sector as it continued efforts to meet commitments made by Prime Minister Stephen Harper to reduce annual greenhouse gas emissions by 2020 to 17 per cent below 2005 levels.

Canada pledges oil and gas pollution rules by 2013 at climate conference - Montreal Gazette

First India Shale Gas Seen in 4 Years, China Output Nears - Bloomberg

Thu, 17 May 2012 16:38:05 +0000

Oil & Natural Gas Corp. (ONGC) of India and competitors may drill for at least four years before producing the first commercial shale gas in the nation as China expects to commence output next month and Australia boosts reserves.

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ONGC, India’s biggest explorer, is studying data for shale- gas deposits and awaiting a government policy on commercial drilling for gas trapped in shale rock, Sudhir Vasudeva, chairman of the state-run company, said in a telephone interview yesterday. China Petrochemical Corp. will start pumping the nation’s first shale gas from a project in Sichuan province next month, according to a report on Caixin’s website on May 15, citing the company. Companies from France’s Total SA to Australian mining giant BHP Billion Ltd. began shale-gas projects around the world after a surge of production in the U.S. turned that fuel-importing nation into the world’s biggest producer of natural gas. The U.S. produced 96 billion cubic meters in 2009, overtaking Russia as the largest provider of the fuel.

First India Shale Gas Seen in 4 Years, China Output Nears - Bloomberg

Operation to kill gas leak on North Sea oil platform is 'complete success' - The Independent

Thu, 17 May 2012 02:38:48 +0000

Work to "kill" the leak started yesterday on Total's Elgin platform, around 150 miles (241km) from Aberdeen, with heavy mud being pumped into the well.

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At one point about 200,000 cubic metres of gas was leaking every day but this was said to have been reduced by two-thirds when workers started drilling a relief well last month.

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Total was granted approval from the Department of Energy and Climate Change almost two weeks ago to carry out the "kill" operation.

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Operation to kill gas leak on North Sea oil platform is 'complete success' - The Independent

Gas from KG-D6 drops to about 32 mmscmd: Reliance Industries - Economic Times

Wed, 16 May 2012 12:38:38 +0000

NEW DELHI: Reliance Industries has reported that natural gas production from its eastern offshore KG-D6 fields has dropped to about 32.66 million standard cubic meters per day.

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Gas output from KG-D6 in the week ended May 6 dropped to 32.66 mmscmd from 33.89 mmscmd in April, according to a status report filed by the company with the Oil Ministry. KG-D6, where water and sand ingress coupled with drop in pressure has led a drastic fall in per-well output, had produced 34.62 mmscmd in the beginning of March.

Gas from KG-D6 drops to about 32 mmscmd: Reliance Industries - Economic Times

US may offer shale gas in liquefied form to India - The Hindu

Tue, 15 May 2012 22:38:03 +0000

India and the U.S., on Tuesday, held talks on weaning New Delhi away from dependence on Iranian oil and while both sides stated their known positions on the issue, one positive outcome of the talks, which were wide ranging in nature and not focussed just on Iran, was the possibility of India importing shale gas in liquefied form from the U.S.

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Indian officials, during their meeting with U.S. Special Envoy on Energy Carlos Pascual, explained the long-term projections of India's energy needs, including key suppliers of oil and natural gas and possible external energy sources in Africa, North America and Southeast Asia.

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India is, at present, importing crude oil from 30 countries spread across different continents, the U.S. team was told. From the trend of discussions, officials said the possibility of the U.S. exporting shale gas to India should be seen positively.

US may offer shale gas in liquefied form to India - The Hindu

Oil and Natural Gas Part Ways - Forbes

Mon, 14 May 2012 18:37:59 +0000

Now that this country is winding its way out of the dark tunnel from which it has been, it will require more oil to fuel everything from cars to industry. If supplies are constant, the increased demand will cause those oil prices to rise. But such simple economics can be distorted, namely by increased “speculation” by those who funnel large sums into and out of investments.

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Traditional thought has held that commodity prices all correlate with oil. In fact, the Federal Reserve Bank of Dallas authored a study in 2007 that said the prices of oil and gas tend to move in tandem by a factor of 10 to 1, or $100 a barrel would mean $10 per million Btus. Now, with the advent of the shale gas boom — unconventional natural gas — those commodity prices have been decoupled. The price of a barrel of oil is now about $94. A week-and-half ago, it was $10 more. The drop can be attributed to political and economic uncertainty in Europe, which causes investors to flee that commodity.

Oil and Natural Gas Part Ways - Forbes

Devesh Kapur: Riding the shale gas revolution - Business Standard

Mon, 14 May 2012 04:37:40 +0000

With growing reports of shale gas discoveries and probable recoveries in diverse locations including Argentina, China, East Europe and (especially) the United States, India needs to consider the possible ways it can leverage the strategic implications of this major new development in global energy markets.

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For one, if the recoverable shale gas in China and the US proves to be as large as some estimates project, their dependence on Middle East energy will drop. This could reduce the strategic importance of the Middle East to American interests. And Indian strategic thinkers who had thought (or hoped) that dependence on Middle East oil would make Chinese supply lines through the Indian Ocean vulnerable might have to dampen these expectations. On the other hand, the shift to domestic gas sources by two of the world’s largest energy consumers will by itself attenuate projected increases in energy prices, especially in substitutes like oil and coal, which would mitigate India’s burgeoning energy import bill. But this will not change the fundamental reality that India faces: a growing demand-supply energy imbalance whose implications for economic growth and national security are profound.

Devesh Kapur: Riding the shale gas revolution - Business Standard

Iran row fuels hunt for new oil sources - Times of India

Sun, 13 May 2012 14:38:07 +0000

NEW DELHI: An unstable Persian Gulf and West Asia, coupled with the US pressure on India to cut oil imports from Iran , is driving New Delhi to make diversification a major plank of its energy policy. Now, India is looking at Canada, Nigeria, Venezuela and even Brazil as new sources of oil and gas.

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In the past year, as India's oil demand grew, the sources of oil that India has traditionally depended on are either caught in the throes of what is popularly known as Arab Spring, or in varying degrees of political unrest. This may augur well for the ultimate spread of democracy among these authoritarian nations, but in the short term, many of these countries will remain unstable. The assessment among Indian policymakers is veering to something that the nation should have thought of long ago - to diversify sources of energy. Canada is emerging as a significant suitor for India's energy needs, oil, gas and uranium. With gas reserves of an estimated 62 trillion cubic ft, and the third largest oil reserves in the world (much of it in tar sands) Canada is an attractive energy option.

Iran row fuels hunt for new oil sources - Times of India

Hype over East Africa's oil, gas discoveries requires dose of reality - East African

Sun, 13 May 2012 00:38:05 +0000

In the past 50 years, East Africa has never been completely off the radar screen of the international oil and gas industry, but apart from some small gas discoveries in Tanzania in the 1970s and ‘80s, exploration efforts in the region were unsuccessful until the discovery of commercial quantities of oil in Uganda in 2006.

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Since 2010, we have also seen major gas discoveries offshore of Tanzania and Mozambique and on March 26, this year, Tullow Oil announced an oil discovery in the Kenyan Rift Basin (though this is not confirmed as a commercial deposit despite the hype after the announcement).

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Coupled with this exploration success there has also been a good deal of M&A activity in the region’s oil and gas sector, culminating in the ongoing sale of Cove Energy plc, whose assets in Mozambique and Kenya have attracted the attention of many companies.

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Hype over East Africa's oil, gas discoveries requires dose of reality - East African

Russian, Italian, French companies among 15 bidding for oil and gas drilling ... - Washington Post

Sat, 12 May 2012 10:26:19 +0000

NICOSIA, Cyprus — Major oil and gas companies such as Russia’s Novatec, Italy’s ENI, France’s Total, and Malaysia’s Petronas are among 15 firms and consortiums that are seeking to carry out exploratory drilling for gas deposits off southern Cyprus, the island’s commerce minister said Friday, despite Turkey’s strong objections.

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The minister, Neoklis Sylikiotis, said the companies that applied for a license to drill by Friday’s deadline also include ones from Canada, the UK, Norway, Israel, South Korea and the U.S., surpassing the government’s hopes. The bids come as the small east Mediterranean island nation is reeling from Europe’s financial crisis. It economy is projected to shrink by half a percentage point of GDP this year, and unemployment is hitting record highs.

Russian, Italian, French companies among 15 bidding for oil and gas drilling ... - Washington Post

Qatar buys 'major' stake in oil giant Shell - Livemint

Sat, 12 May 2012 02:10:47 +0000

London: Gas-rich Qatar is ploughing more of its commodity wealth back into the sector with the purchase of a major stake in Royal Dutch Shell while also reportedly eyeing a chunk of Italian oil major ENI.

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A Shell spokeswoman confirmed the purchase while declining to detail its size but the Middle East Economic Survey (MEES) reported earlier that Qatar’s sovereign wealth fund (QIA) was looking at a 3-5% stake.

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The Gulf nation’s massive gas supplies have made it rich, allowing it to create a sovereign wealth fund that has been buying up assets, including stakes in listed companies, around the world.

Qatar buys 'major' stake in oil giant Shell - Livemint

Underweight on oil & gas sector, bearish on ONGC: Saurabh Mukherjea, Ambit Capital - Economic Times

Fri, 11 May 2012 11:58:39 +0000

Underweight on oil & gas sector, bearish on ONGC: Saurabh Mukherjea, Ambit Capital
Economic Times
In an interview with ET Now, Saurabh Mukherjea, Head of Equities, Ambit Capital shares his views about the oil and gas sector outlook. ET Now: Is there a merit in revisiting oil marketing stocks given the way how crude has cracked in last 10 days?

and more »

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Underweight on oil & gas sector, bearish on ONGC: Saurabh Mukherjea, Ambit Capital - Economic Times