PXD
Ignore the short-term oil volatility and continue to hold Pioneer Natural Resources for the long-term story
So much near-term noise. Since Pioneer Natural Resources (PXD) reported earnings on May 2--the company beat Wall Street estimates on earnings by 16 cents a share and reported revenue in-line with projections and up 56.5% year over year--there's been so much noise in...
Israel’s Prime Minister announces major statement Monday night on Iranian nuclear program
Israeli Prime Minister Benjamin Netanyahu has announced that he will make a statement at 8 p.m. Tel Aviv time tonight on a “significant development” regarding the Iranian nuclear pact. (8 p.m. in Tel Aviv is 1 p.m. in New York.) Israeli news sources are saying that the government has obtained documents that government sources say prove Iran has misled the world about its nuclear program.
Oil continues to move higher on Middle East fears
Oil futures in New York settled at their highest since December 2014. U.S. benchmark West Texas Intermediate climbed 0.35% to close at $68.88 a barrel. International benchmark Brent crude rose 0.88% to $74.71 a barrel. The gains were unusual in that the U.S. dollar strengthened today. But the markets had news of another missile attack on Saudi Arabia–again unsuccessful–by Houthi rebels in Yemen. The Houthis are backed by Iran and Yemen has become a proxy war for power in the Middle East between Iran and Saudi Arabia (and by extension, Russia and the United States.)
Oil prices up again on inventories, Middle East fears, OPEC price goals
West Texas Intermediate climbed 3.16% today to $68.80. Futures for May delivery moved over $68 a barrel for the first time in three years. Yesterday the American Petroleum Institute reported a 1.05 million barrel draw down in U.S. inventories. Today the U.S. Energy Information Administration reported a drop in crude inventories of 1.1 million barrels. Energy analysts had projected an increase in inventories for the week ended April 13. But it’s not just near-term supply and demand figures that are pushing oil priced higher.
How much can Pioneer Natural Resources increase production?
When West Texas Intermediate crude was struggling to stay above $50 a barrel, the important issues for a U.S. oil shale producer such as Pioneer Natural Resources (PXD) were How much of production in 2018 was hedged above $50 a barrel? and How quickly the company...
Sector Monday: Norway’s wealth fund moves to get out of oil–should you follow? My five rules for thinking about investing in oil and natural gas now.
Norges Bank Investment Management, the entity that runs Norway’s $1 trillion sovereign wealth fund, has recommended that the fund, which invests the country’s take from oil and gas revenue from production from its own reserves, sell off its shares in oil and gas stocks. The fund owns $35 billion in oil and gas shares. Should you follow suit?
Oh no! for oil prices–U.S. shale producers hedge above $50 a barrel
U.S. oil producers have hedged more of their oil production in the last two weeks than in the last four to five months. In August a sample of 43 large and small U.S. producers had hedged just 23% of 2018 production. But now with West Texas Intermediate back above $52 a barrel, producers have rushed to finish hedging 2017 production, and the bulk of their 2018 production, and started to establish hedges for 2019.
Today it’s all about oil–again
Today’s moves take oil to a 7-month low. And oil is now in an official bear market for 2017 with West Texas Intermediate down 20% from its February 23, 2017 high at $54.45 a barrel. Why the tumble?
Permian Power! Pioneer Natural crushes production guidance
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...The technology revolution in the Permian Basin points to stock picks in the oil shale sector
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...You’ve heard of the low cost oil shale plays in the Permian Basin, right? Time to start watching the Niobara too
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Jim’s Stock Alerts
Download Jim’s eBook for Free
