Energy Recap: Oil Rig Count Increases, A New Survey Examines The State Of Credit Lines In The Oil Patch
Welcome to the latest edition of the Energy Recap. This week, we wanted to pass along some interesting data taken from a new energy survey by Haynes and Boone, titled “Borrowing Base Redeterminations Survey: Fall 2016.” According to the firm, the survey seeks to “get a better idea of what lenders, borrowers (producers) and others are expecting regarding upcoming borrowing base re-determinations in light of the price uncertainty in the commodity market.”
We’ve included a couple of key graphs from the survey here, but make sure to click on the above link to check out the entire thing.
Energy Articles of Note
“Chinook Energy: This Undiscovered Montney Gem Has Potential To Triple” By Value Digger
“Bakken Update: OPEC Screwed Up, And Is Forced To Agree To An Understanding That Provides Little Relief To The Oil Markets” By Michael Filloon
“Shell: Shareholders Are Lucky” By Brandon Dempster
Energy Sector Bankruptcies for the Week Ended Oct. 7, 2016
Here’s a list of the most recent bankruptcy announcements in the energy sector:
– Privately-held Murphy Energy filed for Chapter 11 on Thursday, Oct. 6.
Also, we wanted to note that on Tuesday, Oct. 4, SandRidge Energy (NYSE:SD) emerged from Chapter 11 bankruptcy and resumed trading of newly-issued common stock under the “SD” ticker symbol. And on Wednesday, Oct. 5, Arch Coal (NYSE:ARCH) announced that it has completed its restructuring and emerged from Chapter 11 bankruptcy.
Feel free to add anything that we might have missed in the comments section below.
U.S. Oil Rig Count
As per Baker Hughes, the number of active U.S. oil drilling rigs rose for the 15th straight week.
Weekly Natural Gas Storage Report and Summary
Natural Gas Rig Count
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I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
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