Oil and Gas Investor Magazine - November 2015
Cover Story
Unleashing Appalachia's Gas
Though constrained by takeaway capacity, the Marcellus and Utica gas plays are poised to disrupt the U.S. gas marketplace once infrastructure falls in line.
Feature
Commodity Price Whiplash
Upstream companies often react irrationally to extreme oil price fluctuations, in the process destroying long-term business value. Heed these warning signs.
DUCs In A Row
Operators in the Bakken, Eagle Ford and Permian have made strides in well completion efficiencies. At low prices, delaying completions has become another important strategy.
Monetizing Midstream
In today’s tough times, E&Ps are moving to capture step-ups in valuation by spinning off or selling midstream assets.
Move Over, OPEC?
After Citi said recently that oil might go as low as the $20 range, we checked in with the bank’s award-winning energy economist on this, OPEC’s new role and other factors.
Private Players On The Hunt
Some private operators are optimistic despite the downturn, and are thriving by playing to their strengths.
Russia's Strategic Mistake In Syria
Despite thousands of U.S. air sorties and about 3,500 U.S. military advisors providing similar support, Iraqi ground forces have lost control of major cities just an hour’s drive outside the capital.
US Fortunes In China
Service companies have built businesses in China more successfully at this point than have upstream firms.
A&D Trends
Private Equity Changes Strategy
Murphy Markham said at Hart Energy’s A&D Strategies and Opportunities conference that, until oil prices crashed, onset of “resource play revolution” meant lease-and-drill accounted for roughly 80% of private-equity activity.
At Closing
Freeport-Mac Retract
Rather than putting $12 billion in the coffers, this year through the second half Freeport watched $5 billion evaporate in operating losses, largely attributed to its oil and gas division.
Bright Spots
Meet Emily Newport
She graduated from Rice University with a degree in economics and managerial studies before joining Jefferies as an analyst in 2007.
Completions
Conventional Assets Offer Their Own Attractions
RAM’s thesis is that the shale revolution has obscured the merits of many low-decline conventional assets and left them starved for capital.
E&P Momentum
Standing In Tall Cotton
The Lower Cotton Valley play, and specifically the Terryville Field in Louisiana, continues to place single, high-rate natural gas wells among the nation’s Top 100, based on 30-day Mcfe production.
From the Editor-in-Chief
No Pain, No Gain
Most experts think sustainable price relief isn’t coming until the second half of 2016. That belief is predicated on U.S. oil production declining enough to make a difference on the world stage.
Legends
Chatting With King Kirchner
King P. Kirchner co-founded what is now Tulsa-based Unit Corp. and was CEO until he retired in 2001.
On the Money
When Less Becomes More
Various conflicts in the Middle East are collectively, gradually wearing down the energy industry’s global capacity. There are at least four effective wars being waged in the region.