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NaturalGasPrices posts

Energy Department Admits Numbers on Natural Gas Production Are Wrong

Posted Apr 5th 2010 9:30AM by Connie Madon (RSS feed)
Filed under: Forecasts, Industry, Economic Data, Commodities, Headline News

The Energy Department said that its statistics on natural gas production are wrong.

The Energy Information Administration, the statistical arm of the Energy Department, regularly issues its 914 report which is used by the industry and analysis as guide for everything from making capital investments to predicting future natural gas prices and stock recommendations.

Continue reading Energy Department Admits Numbers on Natural Gas Production Are Wrong

Devon at this price level is nearly divine

Posted Jan 25th 2008 1:30PM by Joseph Lazzaro (RSS feed)
Filed under: Technical Analysis, Oil, Stocks to Buy

Devon Energy (NYSE: DVN) is an oil/natural gas exploration company, with operations in the U.S., Canada, and abroad.

Readers of this space know that one argument forwarded here is that in the era of elevated energy prices, oil/natural gas companies are likely to remain promising plays for the foreseeable future, baring the discovery of a cheap, widely-available, alternative energy. And among oil/natural gas companies, Devon Energy is worth an evaluation.

Analysts like DVN's sizable proved oil/gas reserves of 2.34 billion barrels of oil equivalent. Production volume should increase 4-5% in 2007 and 7-11% in 2008. Analysts also like Devon's strategy decision to sell international assets with lower growth prospects. Meanwhile, the company's overall costs remain reasonable.

Continue reading Devon at this price level is nearly divine

Oil falls below $90 as inventories rise, yet IEA maintains demand estimate

Posted Jan 16th 2008 1:06PM by Joseph Lazzaro (RSS feed)
Filed under: International Markets, Other Issues, Oil

Oil plummeted $2.38 to $89.52 in early trading Wednesday after the U.S. Energy Information Agency announced that weekly crude oil inventories rose 4.3 million barrels to 287.1 million barrels, well above the 1.25 million barrel increase consensus estimate.

Heating oil fell 4 cents to $2.49, unleaded gasoline fell about 5 cents to $2.26, and natural gas fell about 4 cents to $8.15 per million BTUs.

However, despite the prospect of a U.S. recession that could lower oil demand, the International Energy Agency maintained its 2008 global oil demand forecast at 87.8 million barrels per day, a 2.3% increase from 2007, the organization announced Wednesday in a statement.

Still, the IEA qualified its 2008 oil demand projection by saying the estimate would be adjusted downward if evidence indicated the U.S. economy continues to slow.

Continue reading Oil falls below $90 as inventories rise, yet IEA maintains demand estimate