OPEC production curbs collapse in Russia-Saudi fight
It’s over. The three-year marriage of convenience between Saudi Arabia and Russia is done. The Saudi’s argued that Russia and OPEC producers must cut production further in response to falling demand for oil in the face of the coronavirus outbreak. Russia...
Oil rallies on U.S. inventory drawdown, record U.S. exports, slip in U.S. production–and, oh yes, those pesky tensions with Iran
U.S. benchmark West Texas Intermediate crude is now up 10% for the week following on a 2.44% jump in price to $59.24 a barrel today. International benchmark Brent crude gained 1.94% to $66.31 a barrel. Continued tensions between the United States and Iran, of course,...
Two more oil tankers attacked in Gulf of Oman; here’s how financial assets moved and which might be interesting ahead
For the second time in a month two oil tankers came under attack in international waters near the strategic Strait of Hormuz. One ship, a Japanese-owned tanker carrying methanol, was apparently attacked by limpet bombs attached to its hull or by a mine. The second...
Oil and oil stocks take double hit today
The combination of a big build in U.S. crude inventories this week and fears that the escalating U.S.-China trade war will slow global economic growth (and global oil demand) took a big whack out of oil prices and oil stocks today. The U.S. Energy Information...
Pioneer Natural Resources gains on earnings beat, production increase, and asset sales
A complicated but very positive quarter for Pioneer Natural Resources (PXD.) The stock, a member of my long-term 50 Best Stocks Portfolio, climbed 3.92% today to $153.77. First, after the close on May 6, the company announced earnings of  $1.83 a share, 20 cents a...
Renewed bid from Occidental for Anadarko adds heat to Permian M&A
The battle for control of Anadarko Petroleum (APC) and its huge position in the oil shale geologies of the Permian Basis isn’t over. Yesterday, Wednesday,  Occidential Petroleum (OXY) made a renewed bid to acquire Anadarko. The 50%/50% stock and cash offer from...
Permian goes from tepid to red hot again on Chevron bid for Anadarko
Chevron (CVX) has agreed to buy Anadarko Petroleum (APC) for $33 billion in cash and stock. On the news shares of Anadarko are up 32.5% to $61.85. Shares of Chevron are off 4.91% to $119.81.Meaured by oil and natural gas production, the deal puts Chevron neck-and-neck...
Pioneer authorizes huge increase in buyback program in note of confidence on cash flow
We all know that companies can authorize stock buybacks and never carry them out, but, nonetheless the big new buyback program authorized by Pioneer Natural Resources (PXD) is a significant sign that of the company’s confidence in its cash flow. (As well as an...
Oil gains on Trump-Xi “success, Russia-Saudi “deal,” and actual production cuts from Alberta
As of 2:30 p.m. New York time U.S. benchmark West Texas Intermediate was up 3.04% to $52.48 a barrel. International benchmark Brent crude gained 2.84% to break back above $60 a barrel at $61.15. Part of the reason for the gain is a general sigh of relief that the...
50 Best Stocks Portfolio pick Pioneer Natural Resources gives back a bit of its post earnings pop
On Monday, after the close of the New York market, Permian Basin oil shale power Pioneer Natural Resources (PXD) reported third quarter earnings of $2.07 a share, 39 cents a share above the Wall Street consensus projection. Revenue climbed 112.2% year over year to...
Oil sells off as Hurricane Michael goes from “rumor” to “fact”
Today’s drop in oil prices looks to me to be a classic buy on the rumor sell on the fact trade. U.S. benchmark West Texas Intermediate dropped 2.81% today to $72.85. International benchmark Brent crude fell 2.68% to $82.72 a barrel. Yesterday oil moved up as...
Oil moves higher today on Hurricane Michael, IEA supply warning
U.S. benchmark West Texas Intermediate crude climbed 0.7% today to close at $74.81 a barrel. International benchmark Brent crude rose 1.23% to $84.94 a barrel. The International Energy Agency warned of what it termed a “risky situation; the oil markets are...
Oil surges on no action at OPEC meeting
Today oil prices breached levels that have oil traders talking about $100 a barrel oil again on OPEC’s decision at its weekend meeting not to boost oil production. U.S. benchmark West Texas Intermediate climbed 2.15% as of noon today, September 24, to move...
Pioneer Natural Resources signs deal to cut fracking sand costs by 50%
It’s always important to see who has the leverage–customers or suppliers–when costs start to rise. On the recent agreement between Pioneer Natural Resources (PXD), perhaps the dominant oil shale producer in the Permian Basin, and fracking sand...
Do you have the patience for the Permian? Should you?
It hasn’t exactly been a great few months oil shale producers in the Permian Basin. Shares of Pioneer Natural Resources (PXD), the biggest pure play on Permian oil, closed at $169.97 a share today, August 29, down from $212.31 a share on May 18. That’s a...
No surprise: Oil moves higher on day after U.S. pulls out of Iran nuclear deal
Some days you need to search for an explanation for a market move. Other days the explanation hits you over the head. Today crude oil is up, in a strong but orderly move. Two catalysts. First, yesterday President Donald Trump announced that the U.S. would pull out of...
Ignore the short-term oil volatility and continue to hold Pioneer Natural Resources for the long-term story
So much near-term noise. Â 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...
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...
Oil prices up again on inventories, Middle East fears, OPEC price goals
West Texas Intermediate crude climbed 3.16% today to $68.80 a barrel. 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...
Little spillover (yet) from Concho acquisition of Permian producer RSPP
Today Concho Resources (CXO) announced the acquisition of RSP Permian (RSPP) to create the biggest  oil and natural gas producer from the shales of the Permian Basin. The $9.5 billion all stock deal represents a 29% premium to the Tuesday close for RSP Permian. That...
Saudis push OPEC to go for $70 a barrel
The goal was to cut production enough to reduce global oil inventories to their five-year average. The hope of the coalition of OPEC and Russia that reduction in production would get oil prices up to $60 a barrel. Now with that inventory reduction just about in place...
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...
Pioneer earnings got the whole oil shale worry thing started
Back on August 1 Pioneer Natural Resources (PXD) reported second quarter earnings of 21 cents a share, beating the Wall Street consensus by 10 cents a share. Revenue climbed 107% year over year to $1.63 billion, way ahead of the Wall Street consensus at $1.06 billion....
Permian Power! Pioneer Natural crushes production guidance
Update: February 8, 2017. Shares of Pioneer Natural Resources (PXD) closed up today, February 8, by 3.85% after this big player in the low-cost Permian Basin blew past earnings estimates and released aggressive guidance on future production growth. The company’s...
Pioneer Natural Resources updates production plans; I’d look to buy if OPEC/Non-OPEC meeting this weekend disappoints
Update December 6, 2016. Pioneer Natural Resources (PXD), one the biggest oil shale producers in the low cost Permian Basin, filled in some details on its post-OPEC agreement on reducing production today at the Cowen & Co. Energy Conference. The company said it...
After the big oil rally: Winners from OPEC’s agreement to cut production
This post originally ran on my subscription site JubakAM.com on December 1. The entire energy sector was up Wednesday on OPEC’s agreement to cut production–but not every stock rose to the same degree. I think these themes defined the way that the market...
Oil continues to rally but oil stocks run out of fuel and tech stocks take down S&P
After yesterday’s surprise agreement to cut production from OPEC, oil prices have continued to climb–West Texas Intermediate was up 3.07% to $50.96 as of 3:15 p.m. New York time this afternoon–but oil stocks have stalled with such leaders from...
What oil glut? Pioneer announces that it will add 5 rigs, increasing production by 13% to 17%
Update September 22. At the Johnson Rice energy conference yesterday, Pioneer Natural Resources (PXD) announced that it plans to add 5 new horizontal drilling rigs to the 12 already at work on its leased acreage in the northern Spraberry/Wolfcamp area of the Permian...Jim’s Daily Email Alerts:
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