MIDSTREAM & MORE:
Tulsa Heaters Midstream is focused on providing useful and informative content to our customers, suppliers, and anyone else that wants to follow along. Each Wednesday, we will post links to interesting articles from around the web relating to the midstream oil and gas industry and more. Posts could include articles that talk about one or more aspects of the industry, including:
- State of oil and gas industry/pricing
- Oil and gas companies and their businesses
- Major news releases
- Gas processing plants
- Pipeline/infrastructure projects
- Many others
WEDNESDAY, MAY 4, 2016:
So we took another week off, but we all need a vacation, right?! Quite a bit going on the last several weeks. First quarter results are being reported by many of the oil and gas companies. I'll spare you the links to every report, but as you would guess, they don't look very good. One in particular did catch our attention, and that was Enbridge. After their first quarter losses, and their internal (and external) projections, they are looking to possibly shed their U.S. natural gas business.
Along with the down first quarter results, we also had two more news-worthy bankruptcies from Ultra Petroleum and Midstates Petroleum.
Among all of this, there was an article from a few weeks ago pointing a bright spot in the industry - Pioneer Natural Resources. With a really strong balance sheet, and aggressive growth plans, Pioneer is poised for a strong future.
Within the article on Pioneer, the author makes reference to $50/barrel oil. Over the last several weeks, this number has been floating around a lot, and it seems to be a consensus that the market could stabilize and possibly grow at that level.
- Is $50 oil the new $100 oil?
- Oil's magic number becomes $50 a barrel
- The age of cheap oil and natural gas is just beginning
Finally this week, a couple of interesting maps. The U.S. Energy Information Administration has recently released new maps that show the structure, thickness, and geologic setting of the Utica Shale play and the location of production wells.
That's it for this week. Check back next week to see what's going on in the midstream industry and more.
CONCLUSION:
Tune in next week (same bat time, same bat channel) to see what else we have dug up from across the web.
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Legal note: The views expressed in the linked content does not reflect the views of THM or its employees.