Newsflash about oil&gas

Time: 2019-04-20 13:48:09Source:

1.MARKET WATCH: NYMEX crude for May settles at $64/bbl
 
Light sweet crude prices on the New York market gained to settle at $64/bbl on Apr. 18, marking the second time in 3 days that the benchmark has reached or broken above that level.
Brent crude oil for June also rose to settle just under $72/bbl for the second time in 3 days.
 
2. Baker Hughes: US rig count down 10 units to 1,012
 
The US drilling rig count dropped 10 units to reach 1,012 rigs working for the week ended Apr. 18, according to Baker Hughes data. The count is down 1 unit from the 1,013 rigs working this time a year ago.
Baker Hughes released its rig count data a day early because of the Good Friday holiday Apr. 19.
 
3. IOCs recorded high reserve replacement, low F&D costs in 2018, analysis shows
 
With 2018s 10-Ks and 20-Fs now filed to the US Securities and Exchange Commission, details on integrated oil companies (IOCs)’ reserve replacement and finding and development costs (F&D) have been displayed.
According to an analysis by Simmons Energy, an energy investment banking firm, major themes from 2018 data include impressive organic reserve replacement (a group average of 153%), leading to F&D costs of $8.20/boe, a multi-year low. The related companies include ExxonMobil, ConocoPhillips, Chevon, Equinor, BP, Shell, and Total. 

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