美帝的shale gas 和oil公司没死,油价又要低迷一阵子了。# Stock
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前几个月炒得很凶的, 银行10月份重新评估石油公司的信贷规模的事情,
根本没兑现呀。 美国的一大帮页岩油,页岩气公司, 银行并没有大规模
减少credit line, 很多公司都维持住原来的信贷规模了。
这个跟原来预想的,信贷大规模缩减,一堆公司倒闭,很有差距呀!
倒的公司少了,那低油价就能再多坚持一段。
另外,美帝冲出来说,要拍卖原油储备,就是嫌自己油太多了。
这是对市场另外一层打击。只是plan到2017年开卖,但是,是不是真要卖,
鬼知道呀。 但是,不会加大储备看起来是可能性很大的。
普京在叙利亚也打上,但是,原油还是没上涨太多。
我觉得这次,美国人真是要下狠手了。
从美伊核谈判让步,放出伊朗的石油产能,到美帝银行继续支持页岩油气产业,
到拍卖自己的原油储备,感觉美帝这一把赌注一定下的很大。
但是,到底是要赌什么呢? 目标是什么?
大家来议一下吧。
Lenders are in the midst of the second semiannual review of producer loans,
and so far cuts to borrowing limits have been “surprisingly gentle,”
according to a report last week from Jefferies Group.
Shale borrowers buy time as banks go easy on credit line cuts
http://www.expressnews.com/business/eagle-ford-energy/article/S
Photo: Courtesy Photo Junk-rated oil and gas producers have landed low-
interest loans by putting up their producing wells and prospective acreage
as collateral.
The day of reckoning for many debt-heavy oil drillers has been postponed as
lenders are giving energy producers more time to cut costs and raise cash.
Lenders are in the midst of the second semiannual review of producer loans,
and so far cuts to borrowing limits have been “surprisingly gentle,”
according to a report last week from Jefferies Group.
SandRidge Energy Inc., which has seen its shares decline 80 percent this
year, was the latest to announce that its borrowing limit will remain
unchanged at $500 million.
“It looks generally to me like it’s a sort of kick the can down the road
approach that’s being taken at this point,” David Lesar, chairman and
chief executive officer at Halliburton Co., the second-biggest oil field
service company, said during last week’s conference call. “That really
just pushes the day of reckoning into sort of the first quarter of next year
.”
Companies including Ultra Petroleum Corp., PDC Energy Inc., Rex Energy Corp.
and Abraxas Petroleum Corp. saw no change in the amount they can draw,
while Callon Petroleum Co. and RSP Permian Inc. saw their credit lines
increased.
BUSINESS
A public entrance to the Bexar County Courthouse is posted with a warning
saying licensed concealed weapon are not allowed. To ban open carry, a
second sign will need to be added. Company owners face open-carry decisions
A Tesla Model S charges at a station in Nephi, Utah, in April. Tesla opened
a temporary shop at The Shops at La Cantera this month where visitors can
take the Model S on test drives. Tesla opens temporary shop in San Antonio
CPS Energy CEO Doyle Beneby is leaving the utility to join a Chicago-based
company, New Generation Power International. CPS to choose new CEO from 8
contenders after Beneby says no Sales of new homes plunged sharply in
September to the slowest pace in 10 months, according to the Commerce
Department. U.S. new-home sales fall sharply in September Eileen Duggan, a
piano teacher and freelance writer, says, “The premium tax credit form, the
dreaded 8962, is really hard.” She adds, “It's enough to make you cry,
that form. It was almost impossible to figure out.” Health care subsidies
at risk for thousands People line up at the Alamodome in March 2014 to
enroll for health insurance under the Affordable Care Act. Texas is of
particular interest for the White House as the third enrollment period is
set to begin because it continues to lead the nation in both the number and
rate of uninsured. As signup nears, feds offer glimpse into health plan rate
Alorica hiring 1,400 local workers
Bank credit lines are a crucial source of liquidity for shale drillers hard
hit by oil’s 44 percent decline in the past year. Companies have cut
spending and laid off thousands of workers, and still outspent cash flow. Of
the 61 companies in the Bloomberg Intelligence North American Independent
Explorers & Producers index, 55 spent more money on drilling in the second
quarter than they earned selling oil and natural gas.
“We think that banks are generally giving producers more time to improve
financial health and that spring ’16 redeterminations could be much tougher
without significant commodity price improvement,” Jefferies analysts led
by Jonathan Wolff said in the report.
Junk-rated oil and gas producers have landed low-interest loans by putting
up their producing wells and prospective acreage as collateral. Banks
typically re-evaluate that collateral twice a year around April and October,
and borrowing limits rise and fall based on a lenders’ price outlook and
on how many new barrels of reserves were added since the last review.
The risk is that those credit lines can shrink when prices fall, which is
just when drillers need the money most.
Drilling cutbacks mean companies are adding to reserves at a slower pace.
Meanwhile, the price outlook for oil and gas has declined sharply. Banks are
reassessing loans using $48.17 a barrel for U.S. benchmark West Texas
Intermediate crude compared with $81 a year ago, according to a quarterly
survey from Macquarie Group Ltd.
While some borrowers have escaped cuts in this review period, others haven’
t been as fortunate. SM Energy Co., Oasis Petroleum Inc. and Emerald Oil Inc
. have had their credit lines reduced. Emerald’s lenders lowered its
borrowing limit to $120 million from $200 million, leaving the company
overdrawn by $19.6 million. The Denver-based driller, which outspent its
cash flow by $48 million in the second quarter, said it is working with
lenders to structure a repayment plan.
U.S. Plans to Sell Down Strategic Oil Reserve to Raise Cash
http://www.bloomberg.com/news/articles/2015-10-27/u-s-plans-to-
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The U.S. plans to sell millions of barrels of crude oil from its Strategic
Petroleum Reserve from 2018 until 2025 under a budget deal reached on Monday
night by the White House and top lawmakers from both parties.
The proposed sale, included in a bill posted on the White House website,
equates to more than 8 percent of the 695 million barrels of reserves, held
in four sites along the Gulf of Mexico coast. Sales are due to start in 2018
at an annual rate of 5 million barrels, rising to 10 million by 2023 and
totaling 58 million barrels by the end of the period. The proceeds will be
“deposited into the general fund of the Treasury,” according to the bill.
The sale is the second time the U.S. has raised cash from the reserve,
created as a counter-balance to the power of Arab producers after the first
oil crisis of 1973-74. The U.S. may sell also additional barrels to cover a
$2 billion program from 2017 to 2020 to modernize the strategic reserve,
including building new pipelines.
The White House on Tuesday urged lawmakers to support the budget deal,
including the proposed partial sale of the SPR, saying it was “a
responsible agreement that is paid for in a balanced way.”
Average Prices
Supporters of the sale argue the U.S. doesn’t require such a big emergency
reserve as rising domestic production on the back of the shale boom offsets
the need for imports. Critics, including oil analysts and former U.S. energy
officials, say using the underground reserve as a piggy bank makes it less
effective in meeting its intended purpose: combating a “severe energy
disruption.” What’s more, the government would be selling at a time when
oil is unlikely to have recovered from its slump over the past 18 months.
The Energy Department, which oversees the reserve, says on average the U.S.
paid about $29.70 a barrel for the oil. But after adjusting for inflation
and other items, the average cost rises to $74 a barrel, according to
ClearView Energy Partners, a Washington-based energy research firm. On
Tuesday, West Texas Intermediate, the U.S. oil benchmark, traded at less
than $44 a barrel.
At current prices, the extra sales to fund the modernization of the
strategic reserve would be equal to 45 million barrels and bring the draw-
down to almost 15 percent of the total.
China Reserves
The draft bill states that “the age and condition” of the reserve “have
diminished its value” as an energy-security asset, requiring its
modernization. “Global oil markets and the location and amount of United
States oil production and refining capacity have dramatically changed in the
40 years since the establishment of the Strategic Petroleum Reserve,” it
said.
The sale comes as countries including China and India build their own
reserves, buying crude in the market to fill up huge tank facilities. The
International Energy Agency estimates that China has already stockpiled 200
million barrels and will add nearly 20 million more this year. Beijing plans
to increase the size of its reserve to 500 million by 2020. Germany, Japan,
South Korea, France, Spain, Italy and other big importers also have their
own strategic oil reserves.
Washington has released crude from the strategic reserve three times in
supply emergencies: in 1991 during the Gulf War to liberate Kuwait from Iraq
, in 2005 after hurricane Katrina crippled Gulf of Mexico production, and in
2011 after the war in Libya cut supplies. Between 1996 and 1997, Washington
also sold 28 million barrels to reduce the federal deficit.
The U.S. imported 9.5 million barrels of crude a day in July -- the latest
monthly data available -- down 35 percent from a record of 14.7 million in
August 2006.
The Bipartisan Budget Act of 2015 will extend the government’s borrowing
authority until March 2017 and also include a two-year deal on spending,
party aides said.
根本没兑现呀。 美国的一大帮页岩油,页岩气公司, 银行并没有大规模
减少credit line, 很多公司都维持住原来的信贷规模了。
这个跟原来预想的,信贷大规模缩减,一堆公司倒闭,很有差距呀!
倒的公司少了,那低油价就能再多坚持一段。
另外,美帝冲出来说,要拍卖原油储备,就是嫌自己油太多了。
这是对市场另外一层打击。只是plan到2017年开卖,但是,是不是真要卖,
鬼知道呀。 但是,不会加大储备看起来是可能性很大的。
普京在叙利亚也打上,但是,原油还是没上涨太多。
我觉得这次,美国人真是要下狠手了。
从美伊核谈判让步,放出伊朗的石油产能,到美帝银行继续支持页岩油气产业,
到拍卖自己的原油储备,感觉美帝这一把赌注一定下的很大。
但是,到底是要赌什么呢? 目标是什么?
大家来议一下吧。
Lenders are in the midst of the second semiannual review of producer loans,
and so far cuts to borrowing limits have been “surprisingly gentle,”
according to a report last week from Jefferies Group.
Shale borrowers buy time as banks go easy on credit line cuts
http://www.expressnews.com/business/eagle-ford-energy/article/S
Photo: Courtesy Photo Junk-rated oil and gas producers have landed low-
interest loans by putting up their producing wells and prospective acreage
as collateral.
The day of reckoning for many debt-heavy oil drillers has been postponed as
lenders are giving energy producers more time to cut costs and raise cash.
Lenders are in the midst of the second semiannual review of producer loans,
and so far cuts to borrowing limits have been “surprisingly gentle,”
according to a report last week from Jefferies Group.
SandRidge Energy Inc., which has seen its shares decline 80 percent this
year, was the latest to announce that its borrowing limit will remain
unchanged at $500 million.
“It looks generally to me like it’s a sort of kick the can down the road
approach that’s being taken at this point,” David Lesar, chairman and
chief executive officer at Halliburton Co., the second-biggest oil field
service company, said during last week’s conference call. “That really
just pushes the day of reckoning into sort of the first quarter of next year
.”
Companies including Ultra Petroleum Corp., PDC Energy Inc., Rex Energy Corp.
and Abraxas Petroleum Corp. saw no change in the amount they can draw,
while Callon Petroleum Co. and RSP Permian Inc. saw their credit lines
increased.
BUSINESS
A public entrance to the Bexar County Courthouse is posted with a warning
saying licensed concealed weapon are not allowed. To ban open carry, a
second sign will need to be added. Company owners face open-carry decisions
A Tesla Model S charges at a station in Nephi, Utah, in April. Tesla opened
a temporary shop at The Shops at La Cantera this month where visitors can
take the Model S on test drives. Tesla opens temporary shop in San Antonio
CPS Energy CEO Doyle Beneby is leaving the utility to join a Chicago-based
company, New Generation Power International. CPS to choose new CEO from 8
contenders after Beneby says no Sales of new homes plunged sharply in
September to the slowest pace in 10 months, according to the Commerce
Department. U.S. new-home sales fall sharply in September Eileen Duggan, a
piano teacher and freelance writer, says, “The premium tax credit form, the
dreaded 8962, is really hard.” She adds, “It's enough to make you cry,
that form. It was almost impossible to figure out.” Health care subsidies
at risk for thousands People line up at the Alamodome in March 2014 to
enroll for health insurance under the Affordable Care Act. Texas is of
particular interest for the White House as the third enrollment period is
set to begin because it continues to lead the nation in both the number and
rate of uninsured. As signup nears, feds offer glimpse into health plan rate
Alorica hiring 1,400 local workers
Bank credit lines are a crucial source of liquidity for shale drillers hard
hit by oil’s 44 percent decline in the past year. Companies have cut
spending and laid off thousands of workers, and still outspent cash flow. Of
the 61 companies in the Bloomberg Intelligence North American Independent
Explorers & Producers index, 55 spent more money on drilling in the second
quarter than they earned selling oil and natural gas.
“We think that banks are generally giving producers more time to improve
financial health and that spring ’16 redeterminations could be much tougher
without significant commodity price improvement,” Jefferies analysts led
by Jonathan Wolff said in the report.
Junk-rated oil and gas producers have landed low-interest loans by putting
up their producing wells and prospective acreage as collateral. Banks
typically re-evaluate that collateral twice a year around April and October,
and borrowing limits rise and fall based on a lenders’ price outlook and
on how many new barrels of reserves were added since the last review.
The risk is that those credit lines can shrink when prices fall, which is
just when drillers need the money most.
Drilling cutbacks mean companies are adding to reserves at a slower pace.
Meanwhile, the price outlook for oil and gas has declined sharply. Banks are
reassessing loans using $48.17 a barrel for U.S. benchmark West Texas
Intermediate crude compared with $81 a year ago, according to a quarterly
survey from Macquarie Group Ltd.
While some borrowers have escaped cuts in this review period, others haven’
t been as fortunate. SM Energy Co., Oasis Petroleum Inc. and Emerald Oil Inc
. have had their credit lines reduced. Emerald’s lenders lowered its
borrowing limit to $120 million from $200 million, leaving the company
overdrawn by $19.6 million. The Denver-based driller, which outspent its
cash flow by $48 million in the second quarter, said it is working with
lenders to structure a repayment plan.
U.S. Plans to Sell Down Strategic Oil Reserve to Raise Cash
http://www.bloomberg.com/news/articles/2015-10-27/u-s-plans-to-
Share on Facebook
Share on Twitter
The U.S. plans to sell millions of barrels of crude oil from its Strategic
Petroleum Reserve from 2018 until 2025 under a budget deal reached on Monday
night by the White House and top lawmakers from both parties.
The proposed sale, included in a bill posted on the White House website,
equates to more than 8 percent of the 695 million barrels of reserves, held
in four sites along the Gulf of Mexico coast. Sales are due to start in 2018
at an annual rate of 5 million barrels, rising to 10 million by 2023 and
totaling 58 million barrels by the end of the period. The proceeds will be
“deposited into the general fund of the Treasury,” according to the bill.
The sale is the second time the U.S. has raised cash from the reserve,
created as a counter-balance to the power of Arab producers after the first
oil crisis of 1973-74. The U.S. may sell also additional barrels to cover a
$2 billion program from 2017 to 2020 to modernize the strategic reserve,
including building new pipelines.
The White House on Tuesday urged lawmakers to support the budget deal,
including the proposed partial sale of the SPR, saying it was “a
responsible agreement that is paid for in a balanced way.”
Average Prices
Supporters of the sale argue the U.S. doesn’t require such a big emergency
reserve as rising domestic production on the back of the shale boom offsets
the need for imports. Critics, including oil analysts and former U.S. energy
officials, say using the underground reserve as a piggy bank makes it less
effective in meeting its intended purpose: combating a “severe energy
disruption.” What’s more, the government would be selling at a time when
oil is unlikely to have recovered from its slump over the past 18 months.
The Energy Department, which oversees the reserve, says on average the U.S.
paid about $29.70 a barrel for the oil. But after adjusting for inflation
and other items, the average cost rises to $74 a barrel, according to
ClearView Energy Partners, a Washington-based energy research firm. On
Tuesday, West Texas Intermediate, the U.S. oil benchmark, traded at less
than $44 a barrel.
At current prices, the extra sales to fund the modernization of the
strategic reserve would be equal to 45 million barrels and bring the draw-
down to almost 15 percent of the total.
China Reserves
The draft bill states that “the age and condition” of the reserve “have
diminished its value” as an energy-security asset, requiring its
modernization. “Global oil markets and the location and amount of United
States oil production and refining capacity have dramatically changed in the
40 years since the establishment of the Strategic Petroleum Reserve,” it
said.
The sale comes as countries including China and India build their own
reserves, buying crude in the market to fill up huge tank facilities. The
International Energy Agency estimates that China has already stockpiled 200
million barrels and will add nearly 20 million more this year. Beijing plans
to increase the size of its reserve to 500 million by 2020. Germany, Japan,
South Korea, France, Spain, Italy and other big importers also have their
own strategic oil reserves.
Washington has released crude from the strategic reserve three times in
supply emergencies: in 1991 during the Gulf War to liberate Kuwait from Iraq
, in 2005 after hurricane Katrina crippled Gulf of Mexico production, and in
2011 after the war in Libya cut supplies. Between 1996 and 1997, Washington
also sold 28 million barrels to reduce the federal deficit.
The U.S. imported 9.5 million barrels of crude a day in July -- the latest
monthly data available -- down 35 percent from a record of 14.7 million in
August 2006.
The Bipartisan Budget Act of 2015 will extend the government’s borrowing
authority until March 2017 and also include a two-year deal on spending,
party aides said.