BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[A good year for oil discoveries]]>http://www.bloggingstocks.com/2009/09/24/a-good-year-for-oil-discoveries/http://www.bloggingstocks.com/2009/09/24/a-good-year-for-oil-discoveries/http://www.bloggingstocks.com/2009/09/24/a-good-year-for-oil-discoveries/#commentsFiled under: , , , , , , , , ,

oil industryThe oil industry has been working hard to find new oil reserves, and so far this year the efforts have been paying off.

It has been a year with some major discoveries that have put the oil industry in a good position to make it the year with the highest level of new discoveries since 2000.

A big reason for the increase in discoveries is improvements in technology that has allowed oil hunters to drill deeper and break through tougher rocks than they were previously able to do.

Continue reading A good year for oil discoveries

A good year for oil discoveries originally appeared on BloggingStocks on Thu, 24 Sep 2009 10:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>AustraliafeaturedGulf of MexicoGulfOfMexicoIranIraqIsraeloiloil explorationoil pricesOilExplorationOilPricesThu, 24 Sep 2009 10:30:00 EST<![CDATA[Schlumberger: 'Best of breed' in oil services]]>http://www.bloggingstocks.com/2009/02/16/schlumberger-slb-best-of-breed-in-oil-services/http://www.bloggingstocks.com/2009/02/16/schlumberger-slb-best-of-breed-in-oil-services/http://www.bloggingstocks.com/2009/02/16/schlumberger-slb-best-of-breed-in-oil-services/#commentsFiled under: , , , , ,

"Long term, supply remains the key issue to watch in the crude oil market; depressed prices continue to force producers to scale back on exploration and development spending," says energy expert Elliott Gue.

In The Energy Strategist, he says, "I watch oil service giant Schlumberger (NYSE: SLB) as a gauge of overall health in energy markets; it has its hands in just about every imaginable oil- or gas-producing market on the planet."

"Schlumberger's fourth quarter earnings release and conference call were far and away the most bearish from the company in at least five years.

"CEO Andrew Gould was notably downbeat, particularly during the analysts' question and answer (Q&A) session. Predictably, earnings estimates have plummeted since that call.

Continue reading Schlumberger: 'Best of breed' in oil services

Schlumberger: 'Best of breed' in oil services originally appeared on BloggingStocks on Mon, 16 Feb 2009 16:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>elliott gueElliottGueenergy stocksenergy strategistoil drillingoil explorationoil productionoil servicesoil technologyOilDrillingOilExplorationOilProductionOilTechnologyschlumbergerslbthestockadvisors.comMon, 16 Feb 2009 16:00:00 EST<![CDATA[No one will feel sorry for Exxon Mobil]]>http://www.bloggingstocks.com/2008/05/01/no-one-will-feel-sorry-for-exxon-mobil/http://www.bloggingstocks.com/2008/05/01/no-one-will-feel-sorry-for-exxon-mobil/http://www.bloggingstocks.com/2008/05/01/no-one-will-feel-sorry-for-exxon-mobil/#commentsFiled under: , , ,

Exxon Mobil Corp. (NYSE: XOM), whose huge profits have made it one of the most vilified companies in America, was brought down to earth today after posting disappointing earnings.

Net income at the world's largest oil company rose 17% to $10.9 billion, or $2.03 per share, from $9.3 billion, or $1.62 per share, a year earlier. Revenue rose 34% to $116.9 billion. Analysts had expected profit of $2.13 on revenue of $124.4 billion, according to Thomson Financial. Shares of the company fell.

Just because oil prices remain above $100 per barrel doesn't necessarily mean everything is going Exxon's way. For one thing, high oil prices resulted in "significantly lower" refining margins, which pushed down downstream earnings by $746 million to $1.16 billion. Lower margins also pushed down profit in Exxon's chemical business by $208 million to $1.03 billion. Moreover, spending on capital and exploration projects soared 30% to $5.5 billion "as we continued to actively invest in projects to bring additional crude oil, natural gas and finished products to market."

The problem is that's proving to be difficult. For one thing, production at the company's oil wells dropped as did natural gas production in the Middle East, The U.S., Canada, South America and Asia. This is happening as surging demand from the developing world is keeping oil prices at record levels. Exxon is "having trouble raising production, and that's not a good sign,'' Leeb Capital Management's Stephen Leeb told Bloomberg News.

Continue reading No one will feel sorry for Exxon Mobil

No one will feel sorry for Exxon Mobil originally appeared on BloggingStocks on Thu, 01 May 2008 15:02:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>energyenergy stocksEnergyStocksFeaturedHillary ClintonHillaryClintoninthenewsoil companiesoil explorationoil pricesoil productionOilCompaniesOilExplorationOilPricesOilProductionXOMThu, 01 May 2008 15:02:00 EST<![CDATA[A ray of hope for oil supplies]]>http://www.bloggingstocks.com/2008/01/17/a-ray-of-hope-for-oil-supplies/http://www.bloggingstocks.com/2008/01/17/a-ray-of-hope-for-oil-supplies/http://www.bloggingstocks.com/2008/01/17/a-ray-of-hope-for-oil-supplies/#commentsFiled under: , , , ,

Oil field While many older oil fields are producing less than they used to, new discoveries of crude may make up for that. The Wall Street Journal reports, "Projects under way in Brazil, Saudi Arabia, West Africa, the Caspian Sea and the Gulf of Mexico will more than make up for natural declines from fields now in production."

If the information is accurate and oil demand falls due to an economic slowdown, prices for crude could drop over the next several years.

What is not clear is whether demand for oil in markets like China and India will continue to spike up. If the Chinese government is willing to underwrite the cost of gas and diesel for its industrial and consumer sectors, the use of oil in that country could continue to rise at an alarming rate.

Distorted demand, caused by the Chinese government, could be the wild card in oil pricing.

Douglas A. McIntyre is an editor at 247wallst.com.

A ray of hope for oil supplies originally appeared on BloggingStocks on Thu, 17 Jan 2008 08:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>crude oilCrudeOilinthenewsoiloil explorationoil suppliesOilExplorationOilSuppliesThu, 17 Jan 2008 08:30:00 EST<![CDATA[The profits aren't accidental for Occidental]]>http://www.bloggingstocks.com/2007/11/30/the-profits-arent-accidental-for-occidental/http://www.bloggingstocks.com/2007/11/30/the-profits-arent-accidental-for-occidental/http://www.bloggingstocks.com/2007/11/30/the-profits-arent-accidental-for-occidental/#commentsFiled under: , ,

Readers of this space know that a preferred sector given current U.S. economic and global growth conditions is the oil / oil services sector.

Further, a mild oil price pull-back does not change the sector's outlook, nor does it change the prospects for Occidental Petroleum (NYSE: OXY).

Occidental has what many analysts like: a geographically diverse reserve base, demonstrated production, substantial liquidity, and ample reserves.

Continue reading The profits aren't accidental for Occidental

The profits aren't accidental for Occidental originally appeared on BloggingStocks on Fri, 30 Nov 2007 16:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>gasoline pricesnatural gasnatural gas servicesOccidentalPetroleumoiloil explorationoil pricesoil servicesoil stocksOilExplorationOXYFri, 30 Nov 2007 16:00:00 EST<![CDATA[Exxon Mobil (XOM) signs Libyan offshore deal]]>http://www.bloggingstocks.com/2007/11/20/exxon-mobil-xom-signs-libyan-offshore-deal/http://www.bloggingstocks.com/2007/11/20/exxon-mobil-xom-signs-libyan-offshore-deal/http://www.bloggingstocks.com/2007/11/20/exxon-mobil-xom-signs-libyan-offshore-deal/#commentsFiled under: , , ,

The world's largest oil company, Exxon Mobil Corp. (NYSE: XOM) announced today that it has signed a 5 year agreement with the national oil company of Libya to explore its offshore potential.

Exxon Mobil stated that this agreement provides the company with exploration rights to "one of the most prospective unlicensed areas" located in the Libyan offshore area. The offshore exploration will take place approximately 110 miles off the Libyan coast, and the area is roughly 2.5 million acres. The water depth of the location ranges between 5,400 feet to more than 8,700 feet below sea level.

The Wall Street Journal (subscription required) reported that under the terms of the deal, Exxon Mobil will drill at least one well in the area, as well as pay a bonus to the Libyan government. Terms of the bonus were not disclosed.

Last year Libya ranked 8th in production among OPEC nations, and was removed from the U.S. list of countries that sponsored terrorism less than two years ago.

Michael Fowlkes has worked as a stock trader for seven years and spent the last two years working as an analyst for the online investment advisory service Investor's Observer. DISCLOSURE: Mr. Fowlkes owns and/or controls diversified portfolios of long and short stock and option positions that include holdings in XOM.

Exxon Mobil (XOM) signs Libyan offshore deal originally appeared on BloggingStocks on Tue, 20 Nov 2007 16:35:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Exxon MobilExxonMobilLibyaoiloil explorationOilExplorationXOMTue, 20 Nov 2007 16:35:00 EST<![CDATA[Pride International (PDE): Don't underestimate Pride]]>http://www.bloggingstocks.com/2007/09/13/pride-international-pde-dont-underestimate-pride/http://www.bloggingstocks.com/2007/09/13/pride-international-pde-dont-underestimate-pride/http://www.bloggingstocks.com/2007/09/13/pride-international-pde-dont-underestimate-pride/#commentsFiled under: , ,

Having just shed its land-based oil exploration division, Pride International Inc. (NYSE: PDE) is now focusing only on offshore drilling for oil. According to a recent report from Goldman Sachs, this move puts PDE's stock price in a position to grow significantly even while the report claimed the outlook is down for offshore drilling as a whole.

According to the Goldman report, PDE's assets have been undervalued by the market, and there's a potential for backlogs to grow and increase profitability. This report expects profits, which have been growing steadily along with revenues, to grow even more over the next year as costs come down.

It's not just the Goldman analysts who have been paying attention to this stock. PDE has recently undertaken contracts to build two new drill ships, which will give the company much more range to seek out profitable drilling areas, and the company is widely seen as a potential acquisition target. Meanwhile, getting out of Latin America frees the company from dealing with leaders like Hugo Chavez or Evo Morales.

Continue reading Pride International (PDE): Don't underestimate Pride

Pride International (PDE): Don't underestimate Pride originally appeared on BloggingStocks on Thu, 13 Sep 2007 08:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>featuredGSHilary on StocksHilaryOnStocksOil explorationOilExplorationPDEstocks to buyStocksToBuyThu, 13 Sep 2007 08:30:00 EST<![CDATA[Marathon picks up big stake in Canadian oil sands]]>http://www.bloggingstocks.com/2007/07/31/marathon-picks-up-big-stake-in-canadian-oil-sands/http://www.bloggingstocks.com/2007/07/31/marathon-picks-up-big-stake-in-canadian-oil-sands/http://www.bloggingstocks.com/2007/07/31/marathon-picks-up-big-stake-in-canadian-oil-sands/#commentsFiled under: , , , , , ,

There was a big acquisition announced today [subscription required] in the world of oil and gas, as Marathon Oil Corp (NYSE: MRO) is picking up Canada's Western Oil Sands Inc. for $5.56 billion, plus assumed debt of $650 million.

The deal is going to give Marathon Oil a huge presence in one of the world's largest crude oil reservoirs, the Athabasca Oil Sands Project. The deal, which is scheduled to finalize during the fourth quarter of this year, is going to give Marathon control over 300,000 gross acres of oil sands.

There are lots of hopes riding on the future of oil coming out of the Canadian oil sands. While the cost of getting that oil out of the ground is much higher than the cost of normal oil exploration, there are several reasons why it is being viewed as very profitable. The primary reason is the close proximity that the area has to America, which is, after all, the world's largest consumer. Being the closest supplier to the world's largest consumer of oil puts companies in Canada in a very enviable position.

Continue reading Marathon picks up big stake in Canadian oil sands

Marathon picks up big stake in Canadian oil sands originally appeared on BloggingStocks on Tue, 31 Jul 2007 14:10:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>canadaCanadian oil sandsCanadianOilSandsinthenewsMarathon Oil CorpMarathonOilCorpmergersmroNYSE: MRONyse:Mrooil explorationOilExplorationWestern Oil SandsWesternOilSandsTue, 31 Jul 2007 14:10:00 EST